Industry coverage is exceptionally light across all the broadsheets today. Before we get stuck into the general property news of the week, below are a few local and international stories that might be of particular interest:
- Draghi warns on property and financial bubble risks – Independent.ie https://m.independent.ie/business/world/draghi-warns-on-property-and-financial-bubble-risks-38609664.html
- Less parking can mean more housing. Here’s how – Combined with new mobility tools, new policies could reduce the need for parking in cities — and help make housing more abundant and affordable…
- Sean Conlon: not your ordinary property financier https://amp.ft.com/content/10b868da-d92a-11e9-9c26-419d783e10e8?__twitter_impression=true
- New Models for Active Adult Living – Urban Land Magazine https://urbanland.uli.org/planning-design/new-models-for-active-adult-living/?utm_source=Social&utm_medium=linkedin&utm_term=urban%20land%20institute&utm_content=576281a4-ee78-41ca-ab56-8a90f97dd614&utm_campaign=Urban%20Land%20Social
- Final 3 spaces left for our Dublin Techstars Startup Week & Proptech Ireland event with Antony Slumbers: Use Cases For Artificial Intelligence in Real Estate in the RDS Members Club on October 24th, book now: https://www.eventbrite.ie/e/71815687655
- Joint venture to build €1.5bn wind farm off Dublin coast https://www.irishtimes.com/business/energy-and-resources/joint-venture-to-build-1-5bn-wind-farm-off-dublin-coast-1.4051797?mode=amp
- ‘Five-star’ care home costing €92,000 a year ‘almost full’ – Independent.ie https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/irish-news/fivestar-care-home-costing-92000-a-year-almost-full-38603634.html
- Ireland by numbers: Country beset by property and income gap as times are a-changin’ but some ways still stubbornly the same – Independent.ie https://m.independent.ie/opinion/comment/ireland-by-numbers-country-beset-by-property-and-income-gap-as-times-are-achangin-but-some-ways-still-stubbornly-the-same-38606884.html
- Property Lending Barometer 2019 https://home.kpmg/ie/en/home/insights/2019/10/property-lending-barometer-2019-real-estate.html?utm_campaign=PostBeyond&utm_term=%23281400&utm_medium=Social&utm_source=LinkedIn&cid=soc_postbeyond_2019_RealEstate_PropertyLendingBarometer2019_ie_all
- Govt ‘a spectator’ in crisis, housing agency says https://www.rte.ie/news/ireland/2019/1018/1084135-homelessness/
- UK construction boosts R&D investment https://www.theconstructionindex.co.uk/news/view/uk-construction-boosts-rd-investment
- Prevent Inefficiencies: Why It’s Time for a Construction Health Check https://blog.plangrid.com/2019/10/construction-health-check/
- This Two-Story Tiny House Comes Complete With A Deck And 2 Bedrooms https://www.womenshealthmag.com/life/a29426103/prefab-shipping-container-tiny-house/
If you missed last week’s round-up, you can catch up here: https://propertydistrict.ie/category/sunday-property-review/
As always, you might let me know if I have missed out on any relevant property news by emailing firstname.lastname@example.org.
(Apologies in advance for any typos, it’s difficult to get good help on a Sunday. Also, I use voice to text dictation so just sound out anything that really doesn’t make sense in a strong rural accent and that should help!)
Property Matters: Ireland’s First Weekly Property Radio Show (& Podcast!):
Ireland’s first weekly property radio show, Property Matters, launched In January 2019 on Dublin South FM 93.9 and is now available internationally via iTunes and Spotify podcast (www.iPropertyRadio.com). Seasoned political broadcaster, Bryan Fox, and I (Carol Tallon) team up to deliver 60 minutes of industry chat with guests from the areas of planning, construction, property and proptech. Produced by Katie Tallon of Hear Me Roar Media.
We were joined in studio by Claire Penny, Commercial Director of Wia to talk about IoT (the internet of things), its potential to disrupt traditional industry players and its likely impact on the built environment.
l-r: Bryan Fox, Carol Tallon, Claire Penny
*Listen back to all #PropertyMatters episodes here: https://anchor.fm/ipropertyradio
Email the Property Matters team at hello@iPropertyRadio.com
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- A Beginner’s Guide to Coliving – The Class of 2020 https://theclassof2020.org/student-accommodation/a-beginners-guide-to-coliving/
- Plans to redevelop Dublin suburb into major mixed-use town centre unveiled https://uk.fashionnetwork.com/news/Plans-to-redevelop-dublin-suburb-into-major-mixed-use-town-centre-unveiled,1145770.html
- Senior Irish planners take fact-finding trip to London for housing insights https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/life-and-style/homes-and-property/new-to-market/senior-irish-planners-take-fact-finding-trip-to-london-for-housing-insights-1.4052698?mode=amp
- How is Wicklow PPN’s Community Wellbeing pilot driving change?
- Legal case begins over south Dublin harbour homes – Independent.ie https://m.independent.ie/irish-news/courts/legal-case-begins-over-south-dublin-harbour-homes-38595736.html
- Plans for more than 650 apartments to be built beside St Anne’s Park in Dublin https://www.thejournal.ie/planning-development-st-annes-park-raheny-dublin-4856073-Oct2019/
- Google gets green light for sports pitch on rooftop – despite opposition from local residents – Independent.ie https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/commercial-property/google-gets-green-light-for-sports-pitch-on-rooftop-despite-opposition-from-local-residents-38590776.html
- Minister yet to meet with developer over controversial plan for ‘affordable’ housing scheme at O’Devaney Gardens site – Independent.ie https://amp.independent.ie/irish-news/news/minister-yet-to-meet-with-developer-over-controversial-plan-for-affordable-housing-scheme-at-odevaney-gardens-site-38597735.html
- The Pat Kenny Show goes to Ireland’s youngest, fastest growing, and most diverse town – Balbriggan. | Newstalk https://www.newstalk.com/podcasts/highlights-from-the-pat-kenny-show/pat-kenny-show-goes-irelands-youngest-fastest-growing-diverse-town-balbriggan
*PLACEengage: The future of speedy, successful placemaking for property developers is here – Property developers and project owners ready Public Consultation are encouraged to contact the PLACEengage team for full details*
SOCIAL HOUSING NEWS
- 49 weeks for Cork City Council to re-let vacant social housing units last year https://www.irishexaminer.com/breakingnews/ireland/49-weeks-for-cork-city-council-to-re-let-vacant-social-housing-units-last-year-957366.html
- Year long turn around for county’s social housing once vacated – Galway Bay FM https://galwaybayfm.ie/galway-bay-fm-news-desk/year-long-turn-around-for-countys-social-housing-once-vacated/
- Kerry had highest social housing vacancy rate in 2018 | Radio Kerry https://www.radiokerry.ie/kerry-highest-social-housing-vacancy-rate-2018/
- Call for ‘very dilapidated’ council owned flat complex in Dublin to be pulled down https://www.irishexaminer.com/breakingnews/ireland/call-for-very-dilapidated-council-owned-flat-complex-in-dublin-to-be-pulled-down-956985.html
OTHER PROPERTY NEWS
- In the property section of the Sunday Independent today Aine Carroll of the CCPC answers the question of how to first-time buyers can boost their chances of getting a mortgage (track spending, determine borrowing capacity, have 10% deposit plus expenses saved etc).
- In the business section of The Sunday Times today, Gavin Daly reports that Galway businessman Edward McHugh is in talks with An Bord Pleanala to demolish the Docklands Innovation Park at East Wall Road in order to develop 340 apartments.
- The same journalist reports that the McGettigan hotel group is seeking permission for a 234-bedroom (room only) hotel on the site alongside its Bonnington Hotel in North Dublin.
- Also in the Times today, Niall Brady confirms that the finance minister has close a loophole that allowed beneficiaries to inherit a home tax-free, despite owning other residential properties.
- The same journalist reports that 17% of landlords in Ireland paid no tax in 2017 due to losses incurred or accrued.
- Eithne Dunne writes “now that many banks have softened their stance on fixed-term offers, it’s time for borrowers to take the 10-year leap of faith”, which makes sense if you only consider current players in the over-priced Irish mortgage market. But are they likely to be able to exclude new, low-cost players and mortgage disruptors for another decade? I’m not sure I would bet on that…
- On the front page of The Sunday Business Post today, Aiden Corkery reports on ‘Structural issues at Boland’s Mill site’. Apparently BAM has already begun an investigation into problems at the €300 million development. Significantly, there are suggestions that similar problems might exist at other building sites .This problem (which has not been clarified) is believed not to be “isolated to the site on Barrow Street or to BAM as a company”. A spokesperson for the Ronan Group Real Estate confirmed that they had experienced problems with concrete at the early stages of constructing the Salesforce tower but these problems were discovered in time. The article states that “It is understood the problem could have affected the building’s life sharts if it had gone undetected”.
- Political editor Michael Brennan has a great feature on page 16 about the Land Development Agency (LDA) – asking, ‘Can the LDA solve the housing crisis?’ The upshot is that the LDA has the potential to be a game-changer when it comes to facilitating (not necessarily delivering) affordable housing but it needs cross-party support, and this cannot be taken for granted .
- Also in the SBP, Killian Woods and Rachel Lavin investigate what reduced apartment sizes will mean in real terms and whether they will be fit for purpose as family homes, because, if not, continuing urban sprawl will be a consequence.
- In the property supplement of the SBP, there is another top 10 feature on how to secure a mortgage, nothing new: start early, establish limits, minimise borrowing, manage your money, review bank accounts , use a broker (turkeys/Christmas etc), plenty of viewings, plan ahead, budget for the extras and check eligibility for the help-to-buy scheme.
- Was the Government right to extend Help to Buy housing scheme? https://www.irishtimes.com/business/markets/was-the-government-right-to-extend-help-to-buy-housing-scheme-1.4051653?mode=amp
- Central Bank ‘not likely’ to loosen mortgage rules despite AIB’s call – Independent.ie https://m.independent.ie/business/personal-finance/property-mortgages/central-bank-not-likely-to-loosen-mortgage-rules-despite-aibs-call-38590778.html
- Fear of difficult tenants driving landlords away – RTB https://www.rte.ie/news/politics/2019/1015/1083511-landlords-rtb/
- Sean Mulryan plans Dublin’s tallest tower at Connolly Station https://www.irishtimes.com/business/commercial-property/sean-mulryan-plans-dublin-s-tallest-tower-at-connolly-station-1.4051295?mode=amp#.XaavLjK7WIQ.linkedin
- Developer reaches out instead of up in the Dublin docklands https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/developer-reaches-out-instead-of-up-in-the-dublin-docklands-1.4047661?mode=amp
- Investor buys fully let offices in capital for ‘around €20m’ – Independent.ie https://m.independent.ie/business/commercial-property/investor-buys-fully-let-offices-in-capital-for-around-20m-38602558.html
- ‘We’ve been hoodwinked,’ claims that Carlow did not need to increase Local Property Tax https://www.carlowlive.ie/news/home/485990/we-ve-been-hoodwinked-claims-that-carlow-did-not-need-to-increase-local-property-tax.html
- Record level of deals still on the cards despite rise in stamp duty – Independent.ie https://amp.independent.ie/business/commercial-property/record-level-of-deals-still-on-the-cards-despite-rise-in-stamp-duty-38602571.html
- Cairn Homes get approval for major Cork city housing development https://www.irishexaminer.com/breakingnews/ireland/cairn-homes-get-approval-for-major-cork-city-housing-development-958140.html
- Brexit uncertainty triggers first construction fall-off in six years https://www.irishtimes.com/business/construction/brexit-uncertainty-triggers-first-construction-fall-off-in-six-years-1.4049241?mode=amp
- Academic fears State agency could engage in ‘speculative development’ https://www.irishtimes.com/news/ireland/irish-news/academic-fears-state-agency-could-engage-in-speculative-development-1.4050370?mode=amp
- Revenues double at Gannon Homes – Independent.ie https://m.independent.ie/business/irish/revenues-double-at-gannon-homes-38595381.html
- Grafton Group warns of lower profit in 2019 https://www.rte.ie/news/business/2019/1017/1083938-grafton-group-profit-warning/
- Savoy Cinema owners object to Apollo House, Screen Cinema plans https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/savoy-cinema-owners-object-to-apollo-house-screen-cinema-plans-1.4054319?mode=am
- Bartra gets go-ahead for Boston Sidings high-rise scheme https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/bartra-gets-go-ahead-for-boston-sidings-high-rise-scheme-1.4054427?mode=amp
- Kennedy Wilson Opens New Dublin Office | Kennedy Wilson https://www.kennedywilson.com/2019/10/kennedy-wilson-opens-new-dublin-office
- Windfarms now powering 27pc of our electricity needs – Independent.ie https://m.independent.ie/business/irish/windfarms-now-powering-27pc-of-our-electricity-needs-38590562.html
- No win/no fee offer seeks to shake up construction litigation https://www.theconstructionindex.co.uk/news/view/no-winno-fee-offer-seeks-to-shake-up-construction-litigation
- Laing O’Rourke returns to profit | Construction Enquirer http://www.constructionenquirer.com/2019/10/17/laing-orourke-returns-to-profit/ This story is also covered in the business section of the Sunday Independent today.
THE AGILE AGENT
GETTING IRELAND’S PROPERTY MARKETPLACE DIGITAL BY DEFAULT
Join us on October 24th, 2019 at the RDS Members Club for a private masterclass with one of proptech’s most original thinkers, Antony Slumbers as we explore the changing trend of Space as a Service (SPaaS). Antony Slumbers is a renowned international speaker on a range of emerging technologies that are transforming the global real estate industry, including artificial intelligence (AI).
With more than two decades experience in software development and as a technology strategist in commercial real estate, Antony is also a member of the Leadership Board of CRETech, mentor at MetaProp RE200 and ranked as having the no.1 non-US commercial real estate blog. He was also listed as No. 7 in Duke Long’s Top 10 Most Influential Online Commercial Real Estate People in 2018.
This is a rare opportunity to hear some of Antony’s unique insights and be able to ask questions in a small group of like-minded individuals. Antony’s clients are developers, landlords, investors and property managers so he is well-experienced in real estate and how the industry is progressing.
Throughout the masterclass, Antony will advise attendees on how technology is redefining how we work, shop and live, and the opportunities and threats of a changing world. #SpaceAsAService was a term Antony coined back in 2014 noting the world moving from products to services, and from ownership to access, where we are becoming used to everything being available on-demand, and how the demand is for the real estate sector to follow suit.
The purpose of the Property District C-Suite Sessions is to give industry decision-makers an elevated view of emerging technologies so as to instruct the innovators within their teams.
Join us on the 24th October for this amazing opportunity to gain some major takeaways for your business and book your tickets here:
PROPTECH AND CONSTRUCTION INNOVATION
- From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based #proptech business sit? Pease take five minutes to add or update your details to our internationally-shared listing here: SIGN UP HERE: *PROPTECH INNOVATORS and STARTUPS *
- How to pick a startup board | Sifted
This is a genuinely helpful piece for #startups – since 2017 I’ve been approached to sit on six boards and declined all but one, for many of the reasons outlined here:
- BIM consultants and their role in digital transformation | Home | Construction Manager Magazine http://www.constructionmanagermagazine.com/insight/bim-consultants-and-their-role-digital-transformat/
- ConTechMap – powered by BUILTWORLD https://www.contechmap.com/
- Particularly relevant for #DigitalTransformation of real estate processes: The Two Big Reasons That Digital Transformations Fail
- The Future of Asian and Pacific Cities 2019: Transformative Pathways Towards Sustainable Urban Development | United Nations ESCAP https://www.unescap.org/publications/future-asian-and-pacific-cities-2019-transformative-pathways-towards-sustainable-urban
- Voice activated hard hats coming to sites | Construction Enquirer http://www.constructionenquirer.com/2019/10/15/voice-activated-hard-hats-coming-to-sites/
- Bleeperbike to remove services from Dún Laoghaire https://www.irishtimes.com/news/environment/bleeperbike-to-remove-services-from-d%C3%BAn-laoghaire-1.4051651?mode=amp
- Interior design startup Havenly raises $32 million – TechCrunch https://techcrunch.com/2019/10/15/interior-design-startup-havenly-raises/
- BAM showcases “world’s most extreme construction site” – News – GCR http://www.globalconstructionreview.com/news/bam-showcases-worlds-most-extreme-construction-sit/
- How Can Commercial Real Estate Players Decide Which Proptech Products Are Worth Their Time and Money? https://www.nreionline.com/technology/how-can-commercial-real-estate-players-decide-which-proptech-products-are-worth-their
- The wind of change in the estate agency industry https://www.estateagenttoday.co.uk/features/2019/10/the-wind-of-change-in-the-estate-agency-industry
- Venture funds have poured $24.6 billion into proptech so far this year. Deal sizes and the number of funding rounds are expected to keep growing. | Business Insider India https://www.businessinsider.in/finance/news/venture-funds-have-poured-24-6-billion-into-proptech-so-far-this-year-deal-sizes-and-the-number-of-funding-rounds-are-expected-to-keep-growing-/articleshow/71613545.cms
- Barry Sternlicht: WeWork went ‘off the rails’ but is a ‘real company’ https://www.cnbc.com/2019/10/18/barry-sternlicht-wework-went-off-the-rails-but-is-a-real-company.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
- Find My Agent: how home viewing is changing in Dubai – Arabianbusiness https://www.arabianbusiness.com/technology/430551-find-my-agent-is-this-the-future-for-real-estate-agents-in-dubai
- Embracing the Digital Revolution: Proptech Developments and the Impact on the Conveyancing Process | Today’s Conveyancer https://www.todaysconveyancer.co.uk/partner-news/embracing-digital-revolution/
- Tech Solutions in the Time of Rent Regulation | Propmodo https://www.propmodo.com/tech-solutions-in-the-time-of-rent-regulation/
- Proptech1 Ventures Opens In London, Expands Investment In UK – DealMakerz https://dealmakerz.co.uk/proptech1-ventures-opens-in-london-expands-investment-in-uk/