Lack of employment prospects directly linked to lack of accommodation

The shortage of rental accommodation is the reason given by 4 out of every 10 employers for them not being able to recruit more staff and employers are also blaming the increasing rents for the loss of many of their existing  staff.   Recruitment firm Abrivia in conjunction with the business school at Trinity College Dublin  carried out a survey of 2500 workers and 500 business and the results confirmed that Irish business is being effected by the housing crisis.

This problem does not only concern Dublin. Lack of availability and the rising cost of living accommodation is a nationwide problem however 47% of workers outside Dublin would require an increase in salary of more that 20% to move to Dublin for work and the results of this survey showed that 8 out of 10 employers expect to increase wages by up to 5% in 2017. This is not good news for job hunters in Cork, Limerick, Galway or Waterford hoping to move to the capital city. People moving from Dublin because they can no longer afford to live there are finding very little accommodation available in Munster however 2017 should be a good year for Limerick if currently proposed construction in Limerick city and the suburbs of Annacotty and Mungret due to commence in late spring goes ahead.

Read more at Irish business Property Guide for 2017 – the opportunities and pitfalls

House prices are still cruising back towards their 2006 peak. (And you wondered why one of our main property websites is called Daft.) Thanks to a recent Daft report, we know that the average asking price for a property in Dublin ranges from €527,000 (south county) to €261,000 in the city centre. The latest Daft report also shows that average prices are far lower in the other cities. Cork is 247k, Galway is 248k and you can still probably get a place in Limerick on your credit card. The report shows that prices are rising sharply in these cities, so don’t hang about.

See more at the link below.

€463m paid over regarding Local Property Tax in 2016, over 95% of people complying.

€463m was paid in Local Property Tax to the Revenue last year, an average compliance rate of 97%.

This is similar to previous years.

Laois had the highest compliance, 99.8% of property owners paying, the lowest compliance was in Donegal, paying just over 92%.

Asset Property Services Auctioneers have this great 3 bed end of terrace for sale in Limerick.

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This is a great opportunity to acquire either a home or a good investment in Limerick City.

IPAV property newsletter Jan. 2017

Newsletter from Ireland’s leading Institute of Auctioneers, Estate Agents and Valuers.

Increase your homes selling price.

Government rent policy unfair for landlords

According to Pat Davaitt, the Chief Executive of the IPAV (Institute of Professional Auctioneers and Valuers) the Governments strategy for the Rental Sector is very unfair to landlords and will force many landlords to pull out of the market.  The most recent legislation introduced by the government is in actual fact punishing landlords who had not  increased the rents their tenants were paying  for some time.  The reasons for not doing so were mainly because they were concerned for their welfare and were happy to have a good tenant in place.  Auctioneers and Estate agents in Limerick and the Munster region agree that this has a lot to do with the drop in  recent rent levels. Read more in the Leitrim observer.




Limerick Riverside Development proposal – A welcome boost for the City

Limerick property developer Rudi Butler of Kirkland Investments has finally gotten the go ahead from Limerick City and County Council to build €40 million 14 storey office  block in the Bishop’s Quay area of Limerick City. The Planning permission which was delayed for several months was granted on 22nd December 2016 and the proposed development which is to include 150,000 square feet of office space, 42 luxury apartments, a restaurant and cafes is hoped to commence in March 2017.  The former ESB office on Cecil street  is due to be demolished  to make way for the new development but one of the conditions to be adhered to is that the areas surrounding the Bishop’s Palace at 104 Henry Street, a listed building dating back to 1775 must be conserved. This is good news for the Construction Sector in Limerick and Auctioneers and Estate Agents in Limerick will welcome the extra office space and living accommodation that will be made available. Read more in the Limerick post

Limerick expecting a surge of new homes for 2017

It is expected that the construction sector will receive a welcome boost if two much needed housing developments one to be located in Annacotty and the other in Mungret get the green light to go ahead in 2017. Applications were made in the final two weeks of 2016 to Limerick City and County Council for 201 Homes to be built close to the South Court Hotel and another 104 houses as well as a 35 Unit three storey complex in Annacotty which is proposed to include housing provisions for the elderly and a single storey creche facility.  With the escalating housing crisis in Limerick this news is being welcomed by first time buyers.  Read more in the Limerick Leader