Carrick-on-Shannon Auctioneer appointed Senior Vice-President of IPAV

Fintan McGill, Managing Director of DNG McGill Carrick-on-Shannon and Longford, has been appointed as Senior Vice-President of IPAV, the Institute of Professional Auctioneers & Valuers, which represents more than 1,500 auctioneers, valuers and estate agents nationwide.

Speaking ahead of the organisation's national conference to be held in Limerick on Friday (14th June) he said he was proud to take on the role and proud of the organisation's achievements.

“In auctioneering we’re involved in the biggest financial decisions individuals and families make in their lives, as well as businesses,” he said. “Our institute, along with our education partner TU Dublin, plays a crucial role in educating and guiding existing practitioners and those entering the profession.”

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On housing policy he said increasing housing supply is paramount. While progress has been made, much remains to be done.

“The last decade has seen the introduction of much regulation, particularly around rent controls. International experience would indicate such controls should only be short-term because of their adverse impacts, such as reducing housing supply and over time, the lack of proper maintenance of rental properties,” he said. “The International Monetary Fund, among others, has recommended the removal of rent caps.”

Mr McGill said home ownership rates have fallen dramatically with Ireland now having one of the biggest gaps in Western Europe between younger and older generations. He pointed to Economic and Social Research Institute findings that nearly 80% of people over age 40 own their own homes but just a third of adults under age 40 do.

“This is a very worrying trend. It’s absolutely crucial that public policy supports people to achieve their aspirations of home ownership,” he said.  “Major delays and blockages in planning, infrastructure, approval processes and financing remain.

“In this regard the recent Housing Commission report must be taken seriously and considered urgently by Government. It’s important that solutions are found to these long standing impediments to progress,” he said.

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In addition to his new role as Senior Vice-President of IPAV Mr. McGill is a member of the National Association of Realtors (NAR) in the USA.

He said increasingly international buyers are playing an active role in the market.

IPAV introduced the ‘Blue Book’ European valuation standards to Ireland in 2013. This is the valuation standard recognised by the Irish Central Bank and the European Central Bank for which it holds default status over all other valuation standards in the event of any valuation conflict arising.