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TOPIC • 22 November, 2018
PROPERTY
PROPERTY OF THE WEEK
CHARMING FAMILY HOME CLOSE TO ALL AMENITIES 72 RADHARC AN MHUILINN RATHWIRE KILLUCAN Co. WESTMEATH N91 X300 AMV: €195,000 An impressive three semidetached residence bedroom with low maintenance rear garden, entrance hall, lounge, kitchen, utility room, guest WC, master ensuite, and family bathroom. Eddie King Auctioneers are delighted to present to the market this perfect family home in pristine condition throughout, situated close to all amenities. This is a great opportunity for a first time buyer or a shrewd investor. This magnificent property is located opposite the new Killucan Primary School, with a local secondary school within walking distance. The property is in a maturing and well maintained estate in the picturesque Rathwire and Killucan area, located close to Mullingar, Kinnegad,
AUCTIONEERS
and the motorway to Dublin, just an hour’s drive away from the city centre. THE PROPERTY A beautiful entrance hall, with timber floor and carpeted stairs, leads to the lounge, kitchen, and guest WC on the lower level. The lounge also has timber flooring with feature fireplace. The spacious kitchen comes with tiled floor, fitted units at floor and eye level, fridge, dishwasher, freezer, oven, and hob. A utility room allows for extra storage space
with fitted units, and also contains a washing machine and dryer. Guest WC also contains a wash hand basin. Upstairs, there are three bedrooms, one master ensuite, and each has a walk in wardrobe and beautiful timber flooring. Family bathroom has tiled floor, WC, wash hand basin, and bath. To the rear of the residence, there is a patio yard and shed. The back yard is fenced and walled for privacy.
FEATURES All blinds are included in this sale. The property is heated with zoned oil fired central heating and also benefits from UPVC double glazing. There is also an alarm system fitted. The residence is situated in a modern development with energy efficient homes close to the primary school and M4 just five minutes away. LOCATION The property has room for ample parking. From the property, there is easy access to the M4 motorway just 70km from Dublin, perfect for a commuter. The residence is located in Rathwire Village with access to all amenities churches, including shops, schools, pubs, restaurants, and much more. Viewing of this property comes highly recommended. For more information on this property and many others like it, call Eddie King Auctioneers on 086-2235919, or visit daft.ie.
• SALES • LETTINGS • VALUATIONS Liam Connaughton 086 2467370 • Eileen McLoughlin 086 819 6800 Castle St., Mullingar 044 93 39933 • www. cmlauctioneers.ie 16 THE RISE, LAKEPOINT PARK, MULLINGAR, CO. WESTMEATH 3 bed Semi-Detached House in the Prime Residential Area of Lakepoint Park, with Easy Access to Motorways & Town Centre. This house is Pristine throughout and viewing comes highly recommended. €205,000 "MEADOW COTTAGE", CARRICK, DALYSTOWN, MULLINGAR, CO. WESTMEATH
€259,000
Luxurious 3 Bedroom Bungalow with Detached Garage on 1.26 Acre Site in Prime Location (Potential to obtain planning permission for a second house). In Excellent condition throughout and only 10km from Mullingar Town.
WE’RE SELLING...... ARE YOU? CML AUCTIONEERS are seeking all types of property for SALE or LETTING For a FREE VALUATION on your property – Call Liam on (086)2467370 or Eileen on (086) 8196800 • Office (044) 9339933
STARK AND GROWING GAP BETWEEN MORTGAGE AND RENT - BROKERS IRELAND Responding to the recent CSO house price figures indicating a continuing slowing in the rate of house price increases, 5.8pc in Dublin in the year to September and 10.8pc in the rest of Ireland, Brokers Ireland pointed to a growing gap between repaying a mortgage on a home and paying rent on a similar home. Rachel McGovern, Director of Financial Services at the organisation, said: “The rent and house price trajectories are going in opposite directions at this point. The divergence between servicing a mortgage and paying rent for a similar property is stark, with it being substantially more expensive to rent in almost every area of the country, even allowing for a 2pc increase in mortgage rates, as demonstrated in this week’s Daft.ie Rental Price Report for Q3 of 2018.” She said in some areas renting is almost double the price of servicing a mortgage. “The figures point to a truly dysfunctional market,” she said. “Studies show repeatedly that Irish people want to buy their own homes,” she said. “And buying a home
at an affordable price is, and has always been, the best way in which to grow personal wealth over the longer term. In this regard, comments on Tuesday (13 November) from Professor Tony Fahey of the School of Social Policy should serve as a stark reminder to all policy makers of the critical importance of home ownership,” she said. Brokers Ireland has already said that adjustments to the Central Bank mortgage lending rules are “needed and justifiable to address some market distortions.” They have called for the 90pc LTV (loan-to-value) to apply across the board to all borrowers and for the LTI (loan-to-income) threshold to be amended to 4.5 times gross income, in line with the UK. A release from Brokers Ireland stated, “Such changes would obviate the need for exemptions which have become critically important for many borrowers because the 3.5 times gross salary LTI threshold, along with the 80pc LTV that applies to second and subsequent buyers (SSBs) but not firsttime buyers, are too restrictive.
Davitt & Davitt
WE’RE YOUR LOCALS
Castlepollard, Collinstown, Streete, Finea, Coole, Fore, Crookewood, Lismacaffrey The Square, Castlepollard, Co. Westmeath T: 044 966 1000 E: jwalsh@sfdd.ie
Jennifer Walsh Sales Negotiator 086 3946428
Aidan Davitt
Managing Director 086 8235945 sherryfitz.ie PRSA: 01440
Properties required for buyers in the market this week Three and four bed properties in all areas of Mullingar, Collinstown, Delvin and Castlepollard
- Sherry Fitzgerald Davitt and Davitt 044-9340000 - Agent: John Coyne Estates 044 9362500 / 0872888363 - Eddie King Auctioneers - 044-9342707 - Sherry Fitzgerald Tom Fox - 044-9379988 CML Auctioneers require all types of property for cash and loan approved buyers and in particular cottages, apartments, three and four bedroom semi-detached houses.
- CML Auctioneers - 044-9339933
New to the Market
24 MOUNT PROSPECT, MULLINGAR Situated in a low-density development on the Dublin road, this luxury two bedroom apartment with excellent décor throughout is finished to the highest of specifications €239,950 -
Sherry Fitzgerald Davitt and Davitt - 0449340000 140 ARDLEIGH VALE, MULLINGAR Spacious three bed semi detached residence is exceptionally decorated and well maintained throughout and is located in a prime position.
€169,950 - Sherry Fitzgerald Davitt and Davitt - 044-9340000
KNOCKMANT, MULLINGAR Deceptive six-bedroom dormer bungalow set on approximately five acres, with three stables and a workshop.
€319,950 - Sherry Fitzgerald Davitt and Davitt - 044-9340000
2A CENTRAL PARK, MULLINGAR Spacious and exceptionally decorated twobedroom ground floor apartment with communal entrance located in an exclusive mature development.
€249,950 - Sherry Fitzgerald Davitt and Davitt - 044-9340000
‘PLACEMENT FEES’ COULD GIVE RISE TO CONFLICT OF INTEREST SAYS IPAV Placement fees by a Local Authority to letting agents could give rise to a conflict of interest where an agent is already engaged by the landlord of a particular property that may be the subject of such a fee, IPAV, the Institute of Professional Auctioneers & Valuers, has said. Pat Davitt, IPAV’s Chief Executive said his organisation has become aware in recent weeks of a Local Authority offering an incentive of €500 per property plus VAT to agents who
offer properties to rent for qualified tenants currently residing in emergency accommodation, when the tenant moves into the relevant property. “The HAP scheme makes a good and important social contribution and is badly needed in the current property crisis," he said. “This initiative by Local Authorities to incentivise letting agents speaks to the efforts they are making to secure properties for HAP recipients. “However, an agent has a binding contract
with those who engage them and can legally only act for that party in a transaction,” he said. If an agent who is acting for a landlord receives a placement fee offer from a Local Authority, such an approach would need to be declared to the relevant landlord. It is then up to the landlord to make the decision as to whether or not they are happy with the situation. “It is of course open to Local Authorities to engage letting agents directly to secure properties on their behalf,” he said.
In such instances no conflict of interest would arise, he added Mr Davitt said the current HAP scheme needs some further, simple and necessary amendments, which have been proposed by IPAV to the Minister for Housing and to other parties on many occasions. He said IPAV is happy to meet with any County Council, Government Department or Agency to discuss any aspect of HAP and help in any way it can to source properties in the current crisis.