Caden Grimes Estates

Residential & Commercial Property Sales & Lettings | Lettings Management | Accommodation Outsourcing | Corporate Relocation

Rents Break New Records In Dublin Property Yet Again

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Last quarter was 13th consecutive record breaking period

figures courtesy of Daft.ie

Average rents, and year-on-year change, as of the second quarter of 2019: 

  • Dublin: €2,023, up 4.5%
  • Cork: €1,366, up 7.9%
  • Galway: €1,297, up 9.1%
  • Limerick: €1,225, up 10.5%
  • Waterford: €1,013, up 10%
  • Rest of the country: €993, up 9.2%

Demand continues to far outstrip supply and on 1 May 2019, there were only 2,700 homes available to rent nationwide – the lowest number ever recorded.

New rent pressures zones came into effect in 19 locations last month, including areas in Waterford, Galway and Cork – counties which all experienced notable rent increases in the last quarter.  

Average mortgage much cheaper than average rent 

The average monthly rent in Irish cities is generally much higher than the monthly cost of a mortgage.

For example, the average mortgage in Dublin city centre is €1,488 per month, compared to the average monthly rent of €2,064 – that’s a 139% difference.

Caden Grimes Estates is a Dublin based Estate Agent licensed with the PSRA, licence 001883

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Clean Up Your Finances

You’d be amazed how much you’re giving away each month. A timely Tidy Up Tip from Morgan O’Connell

Caden Grimes Estates Is A Licensed Property Services Provider
PSRA #001883 Info@CGestates.ie 01 9014480

PSRA #001883
Info@CGestates.ie 01 9014480

https://cadengrimesestates.ie/2019/06/04/clean-up-your-finances/

Seven Deadly Questions When Choosing An Estate Agent

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Choosing an Estate Agent to sell your home is part skill and part intuition. You have to believe the agent is going to do his or her best to sell your home for the best price as quickly as is possible.
Trust is critical and so is communication.

1. The agent him/herself and the company they work for MUST be registered with the Property Services Regulatory Authority (PSRA). That’s a legal requirement. The PSRA also obliges the Agent and the Vendor to have a Letter of Engagement (contract) in place. www.psr.ie

2. Trust, as I say, is critical. If you believe in the agent, then it is likely that potential buyers will also. And it is remarkable how many agents don’t answer calls or don’t reply to emails and voice mails.

3. Local knowledge is good but remember an agent with a number of properties in your locality may have split loyalties.

4. What is the fee – you can expect to pay anything between 1 – 2% of the sale price, more than that is unnecessary. And get a clear picture of marketing charges – the sign board, brochures, advertising and photos. Online advertising has pretty much taken over from newspaper ads.

5. A good Estate Agent will gather details, not alone on the property itself, but also on the neighbourhood – transport, facilities such as schools, shops, sports grounds, new developments and so on – all of those things you will want to know when you are buying.

6. The Agent is obliged to tell a potential buyer about any issues (planning, structural, flooding etc) s/he knows of if asked.

7. Have your house as well presented as is possible for photos and for viewings. The old adage – “they can see past that” is not worth the risk. It lowers both the perception and therefore the bid value of your property.

Seven Deadly Questions When Bidding on a House

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Buying a home is tricky in this market – though some people actually enjoy the process. But for most it is time consuming and nerve wracking. Let’s assume you have your desired locations, your budgets and your finances in place.

Once those essentials are done, getting your thoughts in order is the best start for your weekend House Hunting Expedition.

1. Ask if the Agent if the house has been upgraded in recent years – knowing that the wiring, plumbing, heating, insulation are or aren’t up to scratch allows you assess the impact that will have on your budget. And don’t forget the Building Energy Regulation (BER) Certificate.

2. Find out what’s included in the sale and what may be bought. There may be some items of furniture that are ideally suited to the place, the integrated appliances may be available at a bargain price and might help your budget.

3. Is planning permission or architects exemption certificate in place for any extensions? If not that can really delay the sale.

4. What is the sellers’ status? Is their new house ready for them, are they sale agreed on it? Are they reliant on the proceeds of this sale to complete? The big question here is “when do they want to close”. Make sure that fits in with your plans.

5. Ask for a second viewing if you are interested. It is surprising what can be missed in one viewing. And drive around the neighbourhood, look at the condition of houses in the area. I always note the condition of the cars, it says a lot.

6. The agent is paid by the seller and is not your friend, that’s true. However – if s/he is a professional s/he will appreciate a buyer who knows what they are doing. Feel free to ask about the other bidders – are they mortgage approved first time buyers or are they in a chain. Knowing that helps you negotiate.

7. And don’t be afraid to put in an early bid, yes you can go low, but not so low as to be an insult. You don’t want the Agent or seller to think you are not a serious contender.

What happens when your bid is accepted? info@CGEstates.ie to request a copy of out First Time Buyers Sales Process Guide.

And our very best wishes to you, it’s a trying time and we wish you well.