Irish property market news and insights – for the industry, by the industry
Before we get stuck into the general property news of the week, below are the local and international stories that might be of particular interest:
- Housing Shock is a valuable book. Buy, read and share it https://www.irishtimes.com/culture/books/housing-shock-is-a-valuable-book-buy-read-and-share-it-1.4324088?mode=amp
- Founder of property firm Hines has died aged 95 – Gerald D Hines founded the company which has more than 4,800 employees worldwide https://www.irishtimes.com/business/commercial-property/founder-of-property-firm-hines-has-died-aged-95-1.4337592?mode=amp
- ‘You couldn’t overstate the level of anxiety in the industry’ – Appeals blamed for costly backlog of felling licences https://amp.independent.ie/business/farming/news/you-couldnt-overstate-the-level-of-anxiety-in-the-industry-39474046.html
- Shared equity schemes will not deliver affordable homes: The only way to offer citizens homes at €160,000 to €250,000 is to build on public land and sell at cost https://www.businesspost.ie/ireland/comment-shared-equity-schemes-will-not-deliver-affordable-homes-093bc0c4
- The Heritage Council: *PARTICIPANTS NEEDED* for research investigating the issues that influence the success of conservation, maintenance or restoration works to farmhouses or cottages in the Republic of Ireland and Northern Ireland.The survey is being conducted by SPAB Ireland: https://lnkd.in/eT-Nufb
- What to Stream: “The City,” a Challenging Classic Documentary of Visionary Urban Planning https://www.newyorker.com/culture/the-front-row/what-to-stream-the-city-a-challenging-classic-documentary-of-visionary-urban-planning
- Portland Just Showed Vancouver How to Fix Its Housing Crisis | The Tyee https://thetyee.ca/Analysis/2020/08/28/Portland-Showed-Vancouver-Fix-Housing-Crisis/
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 carol@propertydistrict.ie.
(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!)
SUNDAY LISTEN
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). The team delivers 60 minutes of industry chat weekly with guests from the areas of planning, construction, property and proptech.
Produced by Katie Tallon of Hear Me Roar Media.
As #PropertyMatters takes a summer break, we have collaborated with Proptech Ireland (www.prop-tech.ie) for a Radio & Podcast Summer Series for August 2020.
Meet the people developing, shaping and financing proptech innovation in Ireland.
For the last in our iPropertyRadio Summer Series, in association with Proptech Ireland, we chat to Colin Stokes, Proptech buyer and investor in AskPorter.
Colin talks about his own business, Adiuvo, which manages the out-of-hours emergency calls for more than 600,000 rental properties across the UK, from the main base in Charleville, County Cork. The company has recently opened a call centre in the UK (on-boarding 21 new staff members during Covid-19!) and expanded into the US marketplace.
He also talks the process of evaluating proptech, as both a buyer and an investor – “We see beautiful ‘tech’ but sometimes they forget the ‘prop’..
Listen back here: https://ipropertyradio.com
Email the Property Matters team at hello@iPropertyRadio.com
PLACEMAKING
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- In the Business Post today: Planning rules must be adapted to fit the challenging economic climate – Residents and the economy in general would benefit from a more flexible and fast-moving system for building homes https://www.businesspost.ie/property-insight/planning-rules-must-be-adapted-to-fit-the-challenging-economic-climate-7e7e146c
- O’Rahilly house demolition supported by council https://www.irishtimes.com/culture/heritage/o-rahilly-house-demolition-supported-by-council-1.4336998?mode=amp
- Hellfire Club groups launch legal challenge to stop visitor centre https://dublinpeople.com/news/southside/articles/2020/08/24/hellfire-club-groups-launch-legal-challenge-to-stop-visitor-centre/
- Kiltyclogher Community Sensory Garden in North Leitrim announced as winners of Get Ireland Growing Community Growbox https://www.leitrimobserver.ie/news/home/568613/kiltyclogher-community-sensory-garden-in-north-leitrimannounced-as-winners-of-get-ireland-growing-community-growbox.html
- Major blow for campaigners as An Bord Pleanala grant permission for 657 apartment development in St Anne’s Park – There have been calls to revoke the fast-track Strategic Housing Development system following the decisionhttps://www.dublinlive.ie/news/dublin-news/major-blow-campaigners-bord-pleanala-18825752
- Cogent deal for Project Opera https://youtu.be/XzkdrQbvkts
- Planned redevelopment of Cork’s iconic Queen’s Old Castle site delayed – Planning notes for future Munster developments https://www.irishexaminer.com/property/developmentconstruction/arid-40038110.html
- Public asked to have say as new details on DART+ plans that add new routes and trains unveiled: It will see the length of track increased from 50km to 150km https://www.dublinlive.ie/news/dublin-news/public-asked-say-new-details-18830121
- Monkstown apartment scheme given green light: An Bord Pleanála has given the green light for a 290-unit residential development for Monkstown in south Dublin despite local opposition https://www.irishtimes.com/business/economy/monkstown-apartment-scheme-given-green-light-1.4341303?mode=amp
- Double setback for controversial Kildare housing plan: Kildare County Council’s Variation No.1, which effectively reduced its housing targets, challenged by both An Bord Pleanala and a judicial review https://www.businesspost.ie/legal/double-setback-for-controversial-kildare-housing-plan-411f3439
- No plans to progress old proposal for harbour – Independent.ie https://m.independent.ie/regionals/braypeople/no-plans-to-progress-old-proposal-for-harbour-39477718.html
- Pedestrianisation Trial In Malahide To End Next Month | www.98fm.com https://www.98fm.com/news/pedestrianisation-trial-malahide-end-next-month-1067970
- Watch: Historic bar demolished as debate on the future of Cork’s docklands ignites https://www.irishexaminer.com/news/munster/arid-40039781.html
*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*
CONSTRUCTION & DEVELOPMENT NEWS
- James Benson, Director with the IHBA: “With a new political landscape after the election, we felt it was time to get an in-depth analysis of housing affordability and supply. This report comprehensively examines the root causes of our current shortfalls in supply and affordability and identifies a range of solutions to tackle the issues in the short to medium-term.” https://propertydistrict.ie/eydkm-putting-affordability-at-heart-of-the-housing-system/
- Expert warns crash in Irish construction likely to be biggest on record – Ulster Bank’s Simon Barry says contraction in activity for the second quarter could exceed 30% https://www.irishtimes.com/business/construction/expert-warns-crash-in-irish-construction-likely-to-be-biggest-on-record-1.4337770?mode=amp
- ‘Turnkey’ approach is ideal for providing high volumes of houses at affordable prices https://www.irishtimes.com/business/commercial-property/turnkey-approach-is-ideal-for-providing-high-volumes-of-houses-at-affordable-prices-1.4335652?mode=amp
- Castlehaven pairs with developer Eastwise for 370 Dublin apartments – Specialist lender has lent €127.7m to various builders across eight projects since lockdown: https://www.irishtimes.com/business/agribusiness-and-food/castlehaven-pairs-with-developer-eastwise-for-370-dublin-apartments-1.4339482?mode=amp
- Credit unions back €300m fund for social and affordable homes – Scheme will provide ‘competitively priced’ funding to approved housing bodies to build 10,000 homes over the next ten years https://www.businesspost.ie/construction/credit-unions-back-300m-fund-for-social-and-affordable-homes-b403fb1d
- Nine in ten construction workers relied on government payments during lockdown – report https://amp.independent.ie/business/irish/nine-in-ten-construction-workers-relied-on-government-payments-during-lockdown-report-39476176.html
- 100,000 tonnes of concrete diverted from landfill for reuse – Waste concrete from building sites is recycled to make new construction materials, including for runways at Dublin Airport https://www.businesspost.ie/climate-environment/100000-tonnes-of-concrete-diverted-from-landfill-for-reuse-2859a9f4
- Ronan development arm hits back at Dublin City Council over Spencer Dock facility – Council claims Ronan Group’s proposed 152-unit shared living block would provide ‘poor standard’ of accommodation https://www.businesspost.ie/legal/ronan-development-arm-hits-back-at-dublin-city-council-over-spencer-dock-facility-0b7c011b
- Bartra could add 100 private homes to O’Devaney Gardens site – The development firm has entered consultations to develop 1,053 homes on the site near the Phoenix Park https://www.businesspost.ie/residential/bartra-could-add-100-private-homes-to-odevaney-gardens-site-e67db87a
- Amazon to build third Irish wind farm to meet climate pledge – The wind farm will bring the company’s renewable power capability in Ireland to around 229MW: https://www.datacenterdynamics.com/en/news/amazon-build-third-irish-wind-farm-meet-climate-pledge/
- A NEW 5,200sqm building project at TU Dublin Tallaght campus has this week been progressed by Government, and will proceed to tender ‘immediately’. http://www.echo.ie/tallaght/article/building-project-at-tu-dublin-proceeds-to-tender-immediately
- Georgian street saved from ‘overbearing’ hotel: Planners have refused permission for a seven-storey extension for the Iveagh Garden Hotel on Harcourt Street, one of Dublin city’s newest hotels, because of its impact on the street’s Georgian architecture. https://www.thetimes.co.uk/edition/ireland/georgian-street-saved-from-overbearing-hotel-2tcnjc8lb
- Development Of Proposed Dublin Airport Hotel May Not Proceed Due To Lack Of Meeting Rooms | Hospitality Ireland https://www.hospitalityireland.com/hotel/development-of-proposed-dublin-airport-hotel-may-not-proceed-due-to-lack-of-meeting-rooms-107027
- Council supports plans to replace home of 1916 leader with aparthotel https://www.breakingnews.ie/ireland/council-supports-plans-to-replace-home-of-1916-leader-with-aparthotel-1014877.html
- GAA secures planning for 200-bedroom hotel near Croke Park https://www.breakingnews.ie/ireland/gaa-secures-planning-for-200-bedroom-hotel-near-croke-park-1015003.html
- Toland says co-living flats could spread Covid-19 in Ballsbridge: One of the country’s best paid CEOs is fighting against plans for a 111-bed shared co-living space proposal for Ballsbridge in Dublin 4, saying it could spread the coronavirus. Kevin Toland, who is chief executive of baked goods company Aryzta, and his wife Aisling have lodged an objection against a proposed five storey development by Bartra Capital proposal for 98 Merrion Rd. https://amp.independent.ie/business/irish/toland-says-co-living-flats-could-spread-covid-19-in-ballsbridge-39479047.html
- Bartra submits fresh plans for 210-bedroom co-living development in Castleknock: Permission for the development was previously quashed by the High Court in June. https://www.thejournal.ie/bartra-co-living-castleknock-fresh-application-5181076-Aug2020/
- Also – Bartra Capital to spend €130m on four co-living sites in Dublin: Ballsbridge, Rathmines, Dún Laoghaire and Castleknock projects have faced opposition https://www.irishtimes.com/business/commercial-property/bartra-capital-to-spend-130m-on-four-co-living-sites-in-dublin-1.4340396?mode=amp
- Cautious welcome for 450 homes in Douglas https://www.echolive.ie/corknews/Cautious-welcome-for-450-homes-in-Douglas-a4207461-bcd2-4bdc-ac91-077cb2108b13-ds
- Iconic Cork building set to be demolished imminently https://www.echolive.ie/corknews/Iconic-Cork-building-set-to-be-demolished-imminently-46f9986d-e876-4f8d-98c2-118cce6b023b-ds
- ‘Future is bright’ – Developer plans €35m hotel development for Galway https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/commercial-property/future-is-bright-developer-plans-35m-hotel-development-for-galway-39486787.html
- An Bord Pleanála overturns refusal for Moycullen glamping cabins – Connacht Tribune https://connachttribune.ie/an-bord-pleanala-overturns-refusal-for-moycullen-glamping-cabins/
- Meath site available with planning granted for 63 houses | Business Post https://www.businesspost.ie/commercial/meath-site-available-with-planning-granted-for-63-houses-eac6b074
- Lack of parking scuppers renovation plans for stables at Oldtown House in Naas | Kildare Nationalist https://kildare-nationalist.ie/2020/08/26/lack-of-parking-scuppers-renovation-plans-for-stables-at-oldtown-house-in-naas/#.X0YO8Pdw2Ec
- Planning Permission Refused For 68 Homes In Derrinturn. | Kfm Radio https://kfmradio.com/news/26082020-0815/planning-permission-refused-68-homes-derrinturn
- Ballymahon residents to appeal planning decision for third occasion – Longford Leader https://www.longfordleader.ie/news/home/569037/ballymahon-residents-to-appeal-planning-decision-for-third-occasion.html
- Planning granted for 44-house development in Tipperary after appeal – Tipperary Live https://www.tipperarylive.ie/news/home/568488/planning-granted-for-44-house-development-in-tipperary-after-appeal-to-an-bord-pleanala.html
- Work to commence on Munster solar farms https://www.irishexaminer.com/business/economy/arid-40037642.html?type=amp
- Profit dips at Grafton but recovery at Woodies ‘extraordinary’ https://www.irishtimes.com/business/construction/profit-dips-at-grafton-but-recovery-at-woodies-extraordinary-1.4340115?mode=amp
- Olive Safety to double training revenues to €5 million by year-end https://irishtechnews.ie/olive-safety-to-double-training-revenues-to-e5-million-by-year-end/
- International Project of the Year: finalists John Sisk & Son: Center Parcs Longford Forest, Ireland https://www.constructionnews.co.uk/events/cn-awards/international-project-of-the-year-finalists-4-25-08-2020/
- Distilling and construction among sectors on industry finalists shortlist – Steel manufacturer and paint manufacturer also on EY Entrepreneur of the Year shortlist https://www.irishtimes.com/business/distilling-and-construction-among-sectors-on-industry-finalists-shortlist-1.4333364?mode=amp
PROPTECH, MMC & CONSTRUCTION INNOVATION
- Proptech Ireland is updating the database of 2020 Irish technology providers for the built environment – From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based proptech or MMC 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 *
- Dingle’s Standard Access has a sound way of opening doors | Think Business “Standard Access has built a growing company focused on the commercial environment through its Sonic Handshake technology that eliminates the needs for keys, fobs or key cards, relying instead on an encrypted app that is transmitted by sound. Combining state-of-the-art technologies, Standard Access has built a proprietary access control hardware system with a smart-lock, reader and hub to allow access using an app to send an encrypted burst of sound from your phone to unlock a door…” https://www.thinkbusiness.ie/articles/standard-access-door-technology-sonic-burst-encryption-dingle-kerry/
- Remote Working and Collaboration – BIM Consultant and Director at ArcDox Ralph Montague describes to BIMIreland.ie the ‘digital transformation’ we are witnessing – the rise of remote working and collaboration in the ‘age of pandemics’. http://www.bimireland.ie/2020/08/26/remote-working-and-collaboration/
- BidX1 to open platform to wider property industry https://www.rte.ie/amp/1161171/
- IoT Solutions for HVAC Systems | McKeon Group https://mckeon.ie/iot-solutions-for-hvac-systems/
- PropTech Today: start-ups win investor backing in changing world https://www.estateagenttoday.co.uk/breaking-news/2020/8/proptech-today-pandemic-shifts-investor-appetite-to-startups
- A memorandum of understanding (MoU) has been signed by warranty providers to introduce a minimum standard for assessing homes built using modern methods of construction (MMC) to boost lender confidence in new housebuilding techniques: https://www.insidehousing.co.uk/news/news/warranty-providers-reach-important-milestone-after-agreeing-standard-assessment-for-mmc-homes-67613
- With bases in Galway and London, Vision Built offers design, manufacture and installation of offsite building solutions to the Irish and UK markets. Vision Built Managing Director Brian Kennedy speaks with with Irish building magazine about the company’s use of Modern Methods of Construction (MMCs) to provide reliable, sustainable and cost-effective buildings for the future. https://www.irishbuildingmagazine.ie/2020/08/25/clear-vision/
- Proptech start-up raises £1.2m in seed funding https://www.propertywire.com/news/proptech-start-up-raises-12m-in-seed-funding/
- Mighty Buildings 3D-Prints Homes to Address Housing Crisis https://design-milk.com/mighty-buildings-3d-prints-homes-to-address-housing-crisis/
- Envisioning the New Normal: Real Estate + Technology: Part 4: Retail https://www.jdsupra.com/legalnews/envisioning-the-new-normal-real-estate-59623/
- Why 5G is racing ahead in Asia? China offers a look at what super-fast internet speeds can do https://www.jll.com.au/en/trends-and-insights/cities/why-5g-is-racing-ahead-in-asia
RESIDENTIAL PROPERTY NEWS
- In the Sunday Independent today: Property prices have held firm despite the impact of Covid-19, according to a new report published today exclusively in the Sunday Independent. Research by the Institute of Professional Auctioneers and Valuers (IPAV) shows that for the first six months of the year, prices fell nationally by as little as -0.7pc, reducing the average price to €262,312: https://amp.independent.ie/irish-news/property-prices-hold-firm-despite-challenge-from-pandemic-39488775.html
- In The Sunday Times today, Market Watch: Demand is through the roof but the affordability problem must be addressed https://www.thetimes.co.uk/article/market-watch-demand-is-through-the-roof-but-the-affordability-problem-must-be-addressed-mch56vkjz
- Covid does little to curb increase in house prices: The cost of housing has risen by 1.2 per cent across the country, despite the impact of Covid-19 https://www.breakingnews.ie/ireland/covid-does-little-to-curb-increase-in-house-prices-1015239.html
- 10% of property sales renegotiated with small reduction – About one in ten property sales was renegotiated due to Covid-19 with an average price reduction of 3%, a survey of over 260 estate agents carried out by the Society of Chartered Surveyors of Ireland shows: https://www.rte.ie/amp/1160873/
- People in Irish cities ‘can take 15 years’ to put house deposit together https://www.irishtimes.com/news/consumer/people-in-irish-cities-can-take-15-years-to-put-house-deposit-together-1.4339149?mode=amp
- Renters expected to fall into difficulty as wage supports are withdrawn – SCSI https://amp.independent.ie/business/personal-finance/renters-expected-to-fall-into-difficulty-as-wage-supports-are-withdrawn-scsi-39472510.html
- AIB begins issuing refunds to customers denied tracker mortgages https://www.irishtimes.com/business/financial-services/aib-begins-issuing-refunds-to-customers-denied-tracker-mortgages-1.4337774?mode=amp
- #PROPERTY WATCH: Here’s your chance to own your own 18th-century castle where Churchill stayed… https://www.leitrimobserver.ie/news/property/568769/property-watch-here-s-your-chance-to-own-your-own-18th-century-castle-where-churchill-stayed.html
- Dublin’s Seafield House Fit For Royalty Goes On The Market: Seafield House, a mid-18th century mansion, situated on the shores of the Malahide Estuary, is currently on the market and if it wasn’t for the price, we’d have it bought already… https://evoke.ie/2020/08/26/life-style/dublin-seafield-house
- Covid-19 drives golf club properties to the fore: Golf may have hit reputational rough here of late but K Club has sold five properties since January https://www.irishtimes.com/life-and-style/homes-and-property/covid-19-drives-golf-club-properties-to-the-fore-1.4339191
- Saudi Embassy buys €6.5m Glenageary Victorian as Dublin residence: Rathmore is a property with six bedrooms, a sizeable walled garden and a separate converted stable mews https://www.irishtimes.com/life-and-style/homes-and-property/saudi-embassy-buys-6-5m-glenageary-victorian-as-dublin-residence-1.4339201?mode=amp
- What will €265k buy in France, Spain, Portugal, Italy and west Dublin? https://www.irishtimes.com/life-and-style/homes-and-property/take-5/what-will-265k-buy-in-france-spain-portugal-italy-and-west-dublin-1.4333222?mode=amp
- Dublin Budget Buddy: Which properties can you buy in Whitehall, Glasnevin, Walkinstown and Ballsbridge for €300k? We look at a variety of houses and apartments to suit your budget https://www.dublinlive.ie/news/property/dublin-budget-buddy-properties-can-18844729.amp
- A detached 19th-century coastal villa in turnkey condition – Lilac Lodge at 54 Castlepark Road in Dalkey, a detached home with planning permission for a second-storey extension, is on the market for €1.5 million https://www.businesspost.ie/residential/a-detached-19th-century-coastal-villa-in-turnkey-condition-8726f132
- Passive impressive: The house that costs €300 a year to heat https://www.irishtimes.com/life-and-style/homes-and-property/passive-impressive-the-house-that-costs-300-a-year-to-heat-1.4339442?mode=amp
COMMERCIAL PROPERTY NEWS
- West hit hardest as more commercial buildings left empty https://www.thetimes.co.uk/article/west-hit-hardest-as-more-commercial-buildings-left-empty-7qfkrxx8s
- Commercial Vacancy Rate in Limerick Rises to 15.9% https://www.limerickpost.ie/2020/08/27/commercial-vacancy-rate-in-limerick-rises-to-15-9/
- Hotel brand launches with €16m investment: The company is also continuing with its plans to build a fourth Address hotel on Dublin’s Parnell Street. The new development includes almost 9,000 square feet of ground-floor commercial space. The investment will amount to €34m and is planned to open in 2022 as The Address Parnell. https://amp.independent.ie/business/commercial-property/hotel-brand-launches-with-16m-investment-39471839.html
- Eventbrite to depart Cork’s South Mall due to Covid-19 impact – Global ticketing and event firm to downsize but remain committed to Cork https://www.irishexaminer.com/property/commercial/arid-40038191.html?type=amp
- Warehouse and offices for rent in north west Dublin https://amp.independent.ie/business/commercial-property/warehouse-and-offices-for-rent-in-north-west-dublin-39481354.html
- Eason facing legal action from owner of landmark Galway branch https://amp.independent.ie/business/commercial-property/eason-facing-legal-action-from-owner-of-landmark-galway-branch-39484831.html
INTERNATIONAL PROPERTY NEWS
- Fancy working in paradise? Here’s how you can live the dream | Work & careers | The Guardian https://amp.theguardian.com/money/2020/aug/23/fancy-working-in-paradise-heres-the-chance-to-live-the-dresm
- UK Union urges HSE to share crane collapse lessons – The trades union that represents crane workers is urging the Health & Safety Executive (HSE) to clear ‘the cloud of suspicion’ hanging over some of its members. https://www.theconstructionindex.co.uk/news/view/union-urges-hse-to-share-crane-collapse-lessons
- UK Construction materials deal raises competition concerns https://www.gov.uk/government/news/construction-materials-deal-raises-competition-concerns
- Firms urged to find ‘middle ground’ on return to UK offices https://www.theguardian.com/business/2020/aug/26/firms-urged-to-find-middle-ground-on-return-to-uk-offices
- Manchester’s Co-Living Skepticism Meets Economic Reality https://www.bisnow.com/manchester/news/build-to-rent/coliving-round-2-105720
- Trio of UK contractors fined £250,000 after demolition death https://www.constructionenquirer.com/2020/08/27/trio-of-contractors-fined-250000-after-demolition-death/
- Where to invest in a buy‑to‑let property in the UK – Coronavirus has made many rethink their priorities, opening up new opportunities for investors https://www.thetimes.co.uk/article/where-to-invest-in-a-buy-to-let-property-in-the-uk-cp3dj957s
FACEBOOK GROUP FOR IRISH PROPERTY BUYERS & INVESTORS
Crowd-sourcing answers topical property questions:
As many of you might know, my annual property book The Irish Property Buyers’ Handbook (since 2011) was rebranded in 2018 and now appears as part of The Property Insider series, published by Oak Tree Press, the first three titles are now published and available here: https://www.amazon.com/Carol-Tallon/
From 2020, the publishers and I want to ensure the content remains topical and we are doing this by crowd-sourcing home buyer and investor queries, with crowd-sourced and editorial team answers.
Join the Facebook Group here to contribute: https://www.facebook.com/groups/IrishPropertyBuyers/