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Housing market failing our young people – first woman President of IPAV

 

 

The current housing market is failing our younger generations, according to Ella Dunphy  of DNG Ella Dunphy, the first woman President of IPAV, the Institute of Professional Auctioneers & Valuers. She made her comments at the organisation’s AGM and annual conference at the Lyrath Estate Hotel, Kilkenny last Saturday.

  “It’s a market where those with the greatest financial resources have choice but those at middle and lower levels of income have little, and in some cases none at all,” she said.

  “What was once the ‘normal’ house buying populace, those in their 20s and 30s, are scattered between living with parents, ever-growing commutes, or involuntarily having to pay rents that in most cases exceed the price of mortgage repayments”.

  Ironically, she said, this “massive problem” has all decision makers agreed that the solution is a major increase in the supply of new homes.

  “We need to ask why our system seems incapable of answering that call to action, why it is failing our young people so badly,” she said. “Why it insists on dealing with the symptoms of the problem and driving private landlords in their droves from the rental market”. Ms. Dunphy said increasing the supply of properties and doing so rapidly is the only solution to the problem. “The only one that can create stability and prevent a future house price crash, and all the financial loss and psychological trauma that that would entail”.

  She said the Government’s recent Rebuilding Ireland Review of Delivery Costs and Viability for Affordable Residential Developments, identifies late in the day, some of the key issues the industry has known about for a number of years and has been pleading with decision-makers to address.

  The report states: ‘access to and the cost of finance for residential schemes remains a significant challenge, and is a substantial factor in development costs.’ It further states: ‘market lenders are generally supportive of a limited number of strong “bankable” developers and builders, which has the effect of limiting the number of housing providers with delivery capability at scale’.

  “We have made numerous submissions over several years to Government identifying the lack of availability of loans to SME builders and developers and recommending the provision of low costs loans”.

   “The question is when are we going to get such delivered?  When is the €750 million loan scheme announced in last October’s Budget going to be delivered,” she asked.

  From Kilkenny, Ms. Dunphy is the first woman President of IPAV in the organisation’s 50-year history.

 

 

Landmark Lanesboro filling station for sale

 

 

 

John Earley (FIPAV) of Property Partners Earley is this week offering new to the market a landmark two-bedroomed residential filling station and convenience shop known as Barnacor, Lanesboro, Co. Longford (on the main N63 Roscommon/Longford route) selling to all offers after €150,000.

  John Earley describes the property as “a most attractive filling station and residence standing on approx. 0.74 of an acre superbly located beside Lanesboro town and all amenities.

  “The property is situated only on the main N63 Roscommon/Longford route and is only approx. 1 km from the town centre. The said shop offers an area of approx 1,000 sq.ft. and is well appointed with modern equipment and facilities. The residence offers an overall area of approx. 800 sq.ft. and is in excellent condition throughout.

  “Externally the said property is serviced by a substantial forecourt with canopy, 2 fuel banks, car wash area, gas and fuel cage, fuel bunker, a secure storage shed with cold room and a substantial lock up yard way with palisade fencing surrounding same.

  “The joint auctioneers now invite immediate viewings and all offers after €150,000 to sell. Joint Selling Agents: Dalton Auctioneering, Longford. 043-33 41617”.

  For further details or to arrange a viewing, please contact John Earley (FIPAV) of Property Partners Earley, Roscommon on 090-6626579, email This email address is being protected from spambots. You need JavaScript enabled to view it. or log onto www.propertypartners.ie.

 

 

 

 

Offers over €65,000 invited for Stonecourt Duplex

 

 

David Diffley (MIPAV, TRV) of Property Partners Earley is this offering new to the market a quality two-bedroomed duplex apartment of c. 737 sq.ft. located at 1, Stonecourt, The Square, Roscommon.

  David describes the property as “a primely located duplex apartment located in the heart of Roscommon town in the popular Stonecourt complex. 
  “The property boasts spacious living accommodation throughout and with the benefit of free parking facilities at the front and rear of the complex. This is a quality investment property to come available and the auctioneers now invite immediate viewings and all offers after €65,000 to sell.”

  For further details or to arrange a viewing, please contact David Diffley of Property Partners Earley Roscommon on 090-6626579, email This email address is being protected from spambots. You need JavaScript enabled to view it. or log onto www.propertypartners.ie.

Large site with planning for two-storey house

 

For sale at Ballinagard Road, Roscommon is a large site with the benefit of full planning permission for a two-storey residence.  This site is on the books of Pat Hughes & Co., Abbey Street, Roscommon. The site is located in a much sought after area in Roscommon town. Offers in excess of €60,000 are being considered.   For further information or to make an appointment to view, contact the office on 090-6627003 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Four-bedroomed bungalow in prime location

 

At The Walk, Roscommon, Hughes & Company are offering for sale a four-bedroomed bungalow on a corner site with a large garage to the rear. Pat will accept offers in excess of €180,000 for this bungalow. For further information or to make an appointment to view, contact the office on 090-6627003 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

Attractive dormer bungalow in Roscommon

 

At Ardanagh, Roscommon, Hughes & Company are offering for sale an attractive dormer bungalow. The residence is finished to a high standard and located in a much sought after area.  For further information or to make an appointment to view, contact the office on 090-6627003 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

Bungalow in Kilrooskey area is great value

 

 

This week Hughes & Company, Abbey Street, Roscommon have for sale at Ballagh, Kilrooskey an attractive three-bedroomed bungalow on a circa 0.2 acre site. 

  The residence is situated approximately four miles from Roscommon town. While it is in need of modernisation, it is structurally sound. Pat will accept offers in excess of €65,000 for this property.

  For further information or to make an appointment to view, contact the office on 090-6627003 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

Receiver sales – properties selling below best bids, says IPA

 

 

IPAV, the Institute of Professional Auctioneers & Valuers, says properties are being withdrawn from auctioneers by receivers, often without their knowledge, and are being sold for lower prices than the original offers on the same properties.

  Pat Davitt, Chief Executive of IPAV, says this loss on value may have to be borne by the vendor in cases where lenders have not written down debt or are unwilling to do so.

   “The question that arises is, how much deeper is the debt level growing on those already exposed to heavy debt, and are they being forced by this practice into further unnecessary debt, even though their properties have gone into receivership,” he says.

  Mr. Davitt said auctioneers are legally obliged to get the best price the market can offer for vendors.

  A new survey of 133 IPAV auctioneers has shown that 57pc had properties withdrawn by receivers and placed for sale through other sales processes, despite having had a legally signed PSRA (Property Services Regulatory Authority) Sole Agency Agreement in place with the auctioneer.

  Roughly half are withdrawn without any notification to the auctioneer and many of these properties are already under offer when they are withdrawn. In documented instances some properties are sold for levels considerably less than the previously offered price.

  This issue raises a whole series of questions as to who benefits from this practice Mr. Davitt says: “Licenced auctioneers are regulated by the PSRA but the question that arises is, who regulates receivers.

  “In a number of cases if the property doesn’t sell it may afterwards be sold to a single bidder who may offer a knock-down price and succeed,” he says.

  Receivers are frequently dealing with large tranches of properties and there is an inclination to sell a range of properties in one go, he says.  

  “However, it means that someone who has genuinely made the best offer for the property may not secure it. They may find that unbeknownst to them and the acting auctioneer the property has been sold for a lower price”.

“Full steam ahead” for €233m Center Parcs!

 

 

Martin Dalby, CEO of Center Parcs, gave the first reveal and guided tour of the €233m construction site at Newcastle Wood that will be home to Ireland’s first Center Parcs forest resort when it opens in 2019. 

  “We are now at full steam ahead on the build to deliver Ireland’s first Center Parcs resort here in County Longford. In little over one year, the Irish forest we are standing in now will be ringing with the sound of children enjoying a woodland break and creating treasured family memories of their first Center Parcs break.

  “We now have 700 workers on site and spend levels on the construction project have reached €1million per week. We’re delighted to recently announce the awarding of supplier contracts worth €1million to family business Briody beds in Westmeath and Java Republic who will be our bespoke tea and coffee supplier,” he said.

  When operational, Center Parcs Longford Forest will employ up to 1,000 people in permanent jobs. It is estimated that Center Parcs will add approximately €32 million to Irish GDP per annum and €1bn over the next 20 years which would have a transformative impact on the midlands economy in particular.

   The resort will cater for up to 2,500 guests accommodated in up to 466 Lodges and 30 apartments, designed with families and the environment in mind. There will be more than 100 indoor and outdoor activities, a luxury spa, a range of restaurants, cafés and shops and the Subtropical Swimming Paradise complete with water rides.

‘One of the most exclusive residences in Roscommon’

 

 

It has been described by auctioneer Sean Naughten as “one of the most exclusive residences” in Roscommon Town.

  Now this magnificent 3,200 square foot five-bedroomed luxury house is on the market.

  Located at Golf Links Road, it is primely situated in a much sought after area. The residence is a mere three minutes’ walk from Roscommon Golf Club and five minutes’ walk from Roscommon Town centre.

  This property has many unique architectural designed features throughout such as spectacular dome ceiling, gallery landing, authentic arches, large bay windows and gothic centre arch. 

  Accommodation briefly consists of – ground floor: kitchen, dining room, living room, games room/bedroom, sitting room, large foyer hallway, cloakrooms, utility, bathroom and downstairs toilet and wash hand basin. First floor: four double bedrooms (two en-suite), large landing with feature dome ceiling and viewpoint over foyer below, bathroom and hot press. 

  This property is truly a spectacular family home and comes to the market in pristine condition. The property has many additional benefit both internally and externally. Benefits internally include Rayburn range in kitchen, OFCH, large master bedroom with walk-in wardrobe and large en-suite with his and hers sinks and large shower area.

  The property also has many benefits externally such as a large mature garden area to the front and rear, large garage with storage area overhead, decking area and solar panels.

  This property is located in a much sought after area of Roscommon and rarely does a property of this nature come to the market. 

Viewing is strongly advised and strictly by appointment only, with sole auctioneer. Price on application. For further details please contact Sean Naughton Auctioneers on 090-6625080 or This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 

 

 

 

 

 

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