Budget 2018 main points: everything you need to know

Housing and property:

*The Government is allocating more than €1.8 billion for housing next year with the Minister saying some 3,800 new social houses would be built in 2018 by the local authorities and approved housing bodies.

* Mr Donohoe said there would be an additional €149million for the Housing Assistance Payment, which would enable an additional 17,000 households to be supported and accommodated next year, and a €116 million spend on homelessness, up by €18 million on this year.

*The Minister said he was providing a further €500 million for direct building which he hoped would lead to an additional 3,000 new build social houses by 2021 in addition to the existing 47,000 target.

*A new agency, Home Building Finance Ireland, is being created to use Nama’s experience and provide cheap loans to developers. It will be funded by monies from the Irish Strategic Investment Fund (ISIF) to the value of €750 million.

*Mr Donohoe said the stamp duty on non-residential property was lowered to 2 per cent to stimulate the market and “it worked” and now it is being increased to 6 per cent from midnight tonight.

He said this was still well below maximum rate of 9 per cent charged between 2002 and 2008. A stamp duty refund scheme will be available to house builders subject to certain conditions.

*The controversial help to buy scheme of grants for first time buyers, which offers an income tax refund of up to €20,000 for buyers of newly built homes, is being retained.

https://www.irishtimes.com/business/budget-2018/budget-2018-main-points-everything-you-need-to-know-1.3250539

House prices to rise for up to 10 years – property report

House prices are shooting up by €2,000 a month and are now almost 12pc higher than they were a year ago.

Property price rises in Dublin are back outpacing the rest of the country, according to the latest report from property website Daft.ie, and it warned that prices will continue to rise for the next five to 10 years unless drastic action is taken.

The surge in prices is tempting more people to sell, with the number of properties being listed for sale continuing to rise.

More than 6,000 properties were listed for sale in May, the highest monthly total since the middle of 2008.

But it is nowhere near enough to meet demand, housing experts said.

The latest evidence of the ongoing surge in prices comes as the Government said it is reviewing the help-to-buy scheme, a move that prompted fears of a rush to buy in the coming months.

The national average list price during the second quarter of the year was €240,000,

This was 11.7pc higher than a year previously.

Prices are rising at a rate of €2,000 a month nationally, Daft.ie said.

For the April to June period there was a rise of 4.3pc in prices, which matched the rise in the first quarter.

https://www.independent.ie/business/personal-finance/property-mortgages/house-prices-to-rise-for-up-to-10-years-property-report-35880338.html

Phase 2, Old Dublin Road, Limerick. 4 house types to choose from. “Walk the site video”.

Following the sale of site A at the location, Asset Property Services Estate Agents are delighted to bring site B to the Limerick market. This fantastic and unique opportunity will be a one off house(spp) constructed by local building contractors Northvale Development’s and there are 4 house types to choose from giving the buyer great options.

Option A, 3100 sq. ft. 5 Bedroom
Option B, 2500 sq. ft. 4 Bedroom
Option C 2200 sq. ft. 4 Bedroom
Option D 2050 sq. ft. 4 Bedroom

See architect’s impressions of house types below.

The home will be a 4 bedroom detached property measuring 2050sq ft – 3100sq ft depending on chosen option and will be situated on a generous c.0.6 acre site.
Mains natural gas heating, block built, completed to builders finish, high construction specification, same to be in strict compliance with current building regulations.

The Architect has yielded maximum potential out of the property’s southerly aspect by placing much expansive glazing at this side of the home.The property will be set well back in the site in line with the neighbouring property.

Boundary screening is part of the specification to ensure maximum privacy and comfort of living. A residential clause(pressure zone) applies to this sale.

Photographs attached highlight the property’s great location for local amenities such as University of Limerick, Supervalu, Plassey Business Park, Lisnagry National School/Post Office, Castletroy College, Newtown Centre & Annacotty Village are all within easy access from the site. The location also benefits from the M7 Motorway network providing ease of access to Raheen, Shannon, Cork, Dublin.

These home designs are value for money given the high specification of today’s building regulations and generous size site. Taking into account their modern design, easy access to many amenities such as great schools (primary & secondary) and its convenient location between Castletroy and Castleconnell, the home will surely suit a growing family.

Please contact Asset Property Services to register your interest: 061 279423.

Option A:

c.3100 sq ft. 5 Bedrooms. €515,000.

Old Dublin Road Site B Option A

Option B:

c.2500 sq ft. 4 Bedrooms. €460,000.

Old Dublin Road Site B Option B

Option C:

c. 2200 sq ft. 4 Bedrooms. €435,000.

Old Dublin Road Site B Option C

Option D:

c. 2053 sq ft. 4 Bedrooms. €420,000.

Old Dublin Road Site B Option D

Anger as Government defeats the Anti-Evictions Bill

An AAA – PBF bill put before the Dail was narrowly defeated yesterday. The final vote count was 51 51 and the casting vote by Ceann Comhairle Seán Ó Fearghail resulted in support for the Government.  Home Sweet Home the housing campaign who were responsible for taking over Apollo House in Dublin last month condemned the Government for voting down the bill claiming that this decision would result in many more people nationwide becoming homeless.

The bill sought to amend the Residential Tenancies Act 2004 in a number of ways. For example it would have removed the sale of property as a grounds for terminating a tenancy.

This has not only happened in Dublin but in  Limerick also  Read more at the Journal.ie

http://www.thejournal.ie/anti-evictions-bill-home-sweet-home-3195635-Jan2017/?utm_source=twitter_self

20 towns set to get rent caps after price review

Towns in Limerick and Waterford are not expected to see rent caps introduced following the outcome of the Housing Agency’s review but could be designated as pressure zones in a future audit. The minister was criticised when he introduced his rent strategy as only areas in Dublin and Cork were designated as pressure zones.

Fianna Fáil housing spokesman Barry Cowen said he would insist on almost 40 towns being selected as the rent zones.

To see our list of rentals in Limerick go to

http://assetpropertyservices.ie/rentals/

 

http://www.independent.ie/business/personal-finance/property-mortgages/20-towns-set-to-get-rent-caps-after-price-review-35382569.html

Building in Limerick on the Up

According to the latest edition of GeoView Residential Buildings Report Limerick has the fourth highest number of residential units under construction. In the last quarter of 2016 there were 4910 buildings classified as under construction nationwide of which 315 were in Limerick city and county.  The national average price for a house is reported to be €239,095.00 but  if Dublin is not included the average house price countrywide is €167,615.00.  The average property price in Limerick alone is €151,497.00.  Limerick Auctioneers and Estate Agents welcome the much needed construction in Limerick as demand for residential property is at an all time high.

Sale of 4 Unit suburban shopping centre in Limerick yields 8.85% profit

Rosedale Shopping Centre  located in the busy suburb of  Dooradoyle in Limerick has been sold to a private investor for €1.36 million making a net profit of 8.85% for the owner of the split level complex.

A private investor has bought Rosedale Shopping Centre in Dooradoyle, Co Limerick. The centre was developed in 2006 by a local businessman Shane Fitzgerald and the four units are currently occupied by  Dooradoyle Pharmacy, Dooradoyle Medical Centre, Super Bites Take Away and a Centra Convenience Store which is the largest tenant. Read more in the Irish Times

http://www.irishtimes.com/business/commercial-property/four-unit-shopping-centre-in-co-limerick-sold-for-1-36m-1.2939984