If you missed last week’s round-up, which was the busiest of the quarter, you can catch up here: https://propertydistrict.ie/category/sunday-property-review/
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…
- The BIG story today: Dublin skyline rises – 22 storeys: The site includes Tara House, 2-16, Tara Street, Dublin 2 (3794/18) http://www.pleanala.ie/casenum/302980.htm
- More coverage: After a two-year planning battle, Johnny Ronan’s Dublin skyscraper has been given the green light https://www.thejournal.ie/skyscraper-dublin-ronan-4580201-Apr2019/?amp=1
- I was genuinely delighted to see our very own PLACEengage .com featured in Forbes magazine this week: What Problem Are You Solving, And Why Is It Important? https://www.forbes.com/sites/angelicakrystledonati/2019/03/31/startuplife4-what-problem-are-you-solving-and-why-is-it-important/amp/
- On Wednesday I had the great fortune to chair the ‘Impact of Immersive Technologies on Construction’ CitA Technology Trend Event and present the use cases for Virtual Reality and Augmented Reality across the built environment, alongside the talented Sean Roche of D3D and the man driving innovation across Dublin City Council, Jamie Cudden. Presentations available from CitA (Construction IT Alliance).
- I also had the privilege of chairing one of the most interesting panel discussions on housing at the Executive Summit 2019 in the Clontarf Castle Hotel with the Housing Agency’s John O’Connor, developer Michael O’Flynn and global construction giant Shapoorji Pallonji’s Karen Muldowney. Here is a taste of the frank discussion: ‘Dysfunctional’ mortgage rules stopping people from buying homes https://www.irishtimes.com/business/economy/dysfunctional-mortgage-rules-stopping-people-from-buying-homes-1.3851018?mode=amp
- ‘Reality check’: What it’s like being a woman in the construction industry | IMAGE.ie https://www.image.ie/amp/life/work-woman-construction-industry-145810
- Dublin City Council favours radical new housing model https://www.irishtimes.com/news/social-affairs/dublin-city-council-favours-radical-new-housing-model-1.3846108?mode=amp
- Housing crisis: The Berlin solution and the Vienna model https://www.irishtimes.com/life-and-style/homes-and-property/housing-crisis-the-berlin-solution-and-the-vienna-model-1.3850647?mode=amp
- Here’s an interesting approach: Michelle Ho proposes retrofitting housing estates to densify cities https://www.dezeen.com/2019/04/05/michelle-ho-retrofitting-housing-estates-architecture-movie/
- Millennials are about to overtake Baby Boomers as the largest adult generation — and it could drastically alter the US housing market | Markets Insider https://markets.businessinsider.com/amp/news/millennials-baby-boomers-largest-adult-generation-alter-housing-market-2019-4-1028075982
- Quiz: can you identify these world cities from their density maps alone? https://www.theguardian.com/cities/2019/mar/19/quiz-identify-world-cities-density-maps-alone
- Affordable Housing Crisis Spreads Throughout World https://www.wsj.com/amp/articles/affordable-housing-crisis-spreads-throughout-world-11554210003
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!)
#PropertyMatters 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 (@iPropertyRadio). Seasoned political journalist and 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.
This week we were joined by Garry Connolly of Host in Ireland to breakdown the significant potential of the data centre sector in Ireland; Joe McGinley of Iconic Offices talked about the prevailing coworking trend and the importance of building community (and great design!); Will O’Reilly of Domavue joined us to talk about the rise of virtual reality or VR the Irish property market.
Email the Property Matters team at hello@iPropertyRadio.com
Public Consultation and Community Engagement
- Minister says ‘objection culture’ one of the big challenges to more housing #nimby to #yimby https://www.irishtimes.com/news/environment/minister-says-objection-culture-one-of-the-big-challenges-to-more-housing-1.3851084?mode=amp
- Local authorities to be assessed frequently, says planning regulator https://www.irishtimes.com/news/environment/local-authorities-to-be-assessed-frequently-says-planning-regulator-1.3851161?mode=amp
- Building firm in planning battle with Pat Kenny offers to reduce scale of development:
The Kennys stated: “We have no desire to object to every development proposal, but we seek only to have appropriate development in terms of scale and function.”
- Ballincollig residents say City Hall must respect their identity in boundary expansion project https://www.echolive.ie/corknews/Ballincollig-residents-say-City-Hall-must-respect-their-identity-in-boundary-expansion-project-4c86e47f-0a9d-4305-98b7-3671d63e386c-ds
- The Developer – Podcasts – Beyond shopping: What is the social value of the high street? https://thedeveloper.live/podcasts/beyond-shopping-what-is-the-social-value-of-the-high-street
- Why is Kilkenny city centre closing down? https://www.kilkennypeople.ie/news/home/373212/why-is-kilkenny-city-centre-closing-down.html
- Prime site in Limerick city ready for development in two years https://www.limerickleader.ie/news/home/373908/prime-site-in-limerick-city-ready-for-development-in-two-years.html
- Cork’s Derelict Sites: Change the law to stop people ‘sitting on properties’ https://www.echolive.ie/corknews/Corks-Derelict-Sites-Change-the-law-to-stop-people-sitting-on-properties-e2e7aa75-ccc4-4bac-8445-0cc0cc8f2ee8-ds
- Plan for public park near Naas is approved https://www.leinsterleader.ie/news/news/374086/plan-for-public-park-near-naas-is-approved.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*
Other Property News
- The lead story in the Sunday Independent carries the headline ‘Property Tax: The new trap: Fears State pension hike will trigger first-time charges’. This comes as the changes/new valuations due to impact property tax have been deferred but exemption thresholds have not changed, which means that new pension increases will push many over the current exemption thresholds – it seems inconceivable that this will not be rectified before the local elections… This story is also covered by Michael Brennan in The Sunday Business Post today.
- Paschal Donohoe has an op-ed in the Independent headed ‘Sinn Fein’s ‘no consent’ Bill will cause nothing but more harm’. Listeners of Property Matters (iPropertyRadio.com) will have heard my co-host Bryan Fox cover this Bill and its likely impact on the arrears situation.
- Pat Davitt, chief executive of IPAV has an excellent article in the Independent today: ‘Paying rent in retirement is a train wreck waiting to happen’. I don’t always agree with the IPAV party line but this is the most sensible setting out of the current rental situation that I have read to date. Ireland has not introduced a viable income-generating investment alternative for people who wish to be lifetime renters as we see in other jurisdictions.
- The lead business story in the Independent today is the planning approval of the Tara Street tower (above). In the same supplement, Michael Cogley reports that the State is involved in “over half” of new housing being delivered. That includes Nama, AHB’s and local authorities, either through funding, building or purchasing.
- Samantha McCaughren writes that ‘Appetite for building materials break-ups returns focus to CRH’ and Cairn Homes has received planning to build 377 apartments on Griffith Avenue.
- Colin Coyle reports a less positive take on the Tara Street tower go-ahead on page 3 of The Sunday Times today.
- In the Business section of the Times, Brian Carey writes that there is ‘No wiggle room for builders and rental investors’, describing the institutional landlords as the “new ogre” of the property sector (this might explain the need for the new PR strategy for this sector); also, Gavin Daly reports that Cairn Homes plans 1,100 new homes across Dublin and Wicklow, while Emma Maye has received approval for two four-storey apartment blocks 500m from Foxrock Village.
- In the Property supplement of The Sunday Business Post, there is an interesting feature on the Dublin office market, as leases for the first three months of 2019 are up 66% on the same period in 2018. On the other hand, Aoife Brennan reports that property investment in down 42% for the same period.
- The CIS Round-Up reports the following: Bartra seeking approval for 80 million euro scheme in Dublin 24; Victoria Homes has submitted plans to An Bord Pleanala for 30 houses and 173 apartments at Glenamuck Road in Dublin 18; and John Sisk & Son has been appointed main contractor for the 120 million euro Social Housing PPP Bundle 1 (Old Nangor Road/Naas/Ayrfield/Finglas/Dunleer/Wicklow) – works due to start on site in May.
- Richard Curran: ‘Renters are most vulnerable in post-crash housing era’ https://amp.independent.ie/business/personal-finance/property-mortgages/richard-curran-renters-are-most-vulnerable-in-postcrash-housing-era-37980592.html
- The realities of renting: ‘We are watching our lives unravel’ https://www.irishtimes.com/opinion/the-realities-of-renting-we-are-watching-our-lives-unravel-1.3849626?mode=amp
- The changing face of Irish home ownership – who wins, who loses? https://www.irishtimes.com/news/ireland/irish-news/the-changing-face-of-irish-home-ownership-who-wins-who-loses-1.3850954?mode=amp
- Local Property Tax changes to be deferred by one year https://www.thejournal.ie/local-property-tax-deferred-4574108-Apr2019/?amp=1
- Up to 80,000 homes exempt from property tax until 2021 https://amp.irishexaminer.com/breakingnews/ireland/up-to-80000-homes-exempt-from-property-tax-until-2021-915832.html
- Dublin experiences one of greatest leaps in house prices since 2013 https://www.irishtimes.com/business/economy/dublin-experiences-one-of-greatest-leaps-in-house-prices-since-2013-1.3849506?mode=amp
- The average cost of a house in Dublin is now €383,000 https://www.thejournal.ie/daft-house-report-4569929-Mar2019/
- 80% surveyed in student accommodation in Dublin city are international students paying average €250 a week rent https://www.thejournal.ie/student-accommodation-8-4570199-Apr2019/?amp=1
- Social Housing: 45 Examples in Plan and Section https://www.archdaily.com/913999/social-housing-45-examples-in-plan-and-section
- Criticism over €300m PPP social housing contract https://www.rte.ie/amp/1040810/
- What sold for €440k in Grand Canal, D5, Dún Laoghaire and Stoneybatter https://www.irishtimes.com/life-and-style/homes-and-property/what-sold-for-440k-in-grand-canal-d5-d%C3%BAn-laoghaire-and-stoneybatter-1.3841644?mode=amp
- House prices up 72% in Cork city since low point of the recession https://www.echolive.ie/corknews/House-prices-up-72-in-Cork-city-since-low-point-of-the-recession-648b6b2b-3d83-4ddf-a2af-8c20b19ca159-ds
- Opinion: Ireland’s property rush risks repeat of crisis https://www.irishtimes.com/business/economy/opinion-ireland-s-property-rush-risks-repeat-of-crisis-1.3845318?mode=amp
- ‘I can afford to do things that I never dreamed I could’ – First look at Dermot Bannon’s pilot plan for older homes https://amp.independent.ie/life/home-garden/i-can-afford-to-do-things-that-i-never-dreamed-i-could-first-look-at-dermot-bannons-pilot-plan-for-older-homes-37979641.html
- ‘Cuckoo funds’ elbow young buyers out of housing market https://amp.independent.ie/business/personal-finance/property-mortgages/cuckoo-funds-elbow-young-buyers-out-of-housing-market-37973743.html
- One in 10 people spending over 60% of their income on rent in Ireland https://www.thejournal.ie/renting-in-ireland-4570930-Apr2019/
- Central Bank to scrap code of conduct for banks on the transfer of mortgages as it’s ‘not relevant’ https://www.thejournal.ie/code-of-conduct-for-banks-4571681-Apr2019/
- Landlords who evict tenants because they want to sell or renovate a property could face tough sanctions https://www.thejournal.ie/irish-government-new-rent-laws-april-2019-4577322-Apr2019/?amp=1
- Also, important news: Landlords who end tenancy to sell must sign contracts within nine months https://www.irishtimes.com/news/politics/landlords-who-end-tenancy-to-sell-must-sign-contracts-within-nine-months-1.3849873?mode=amp
- Hibernia Reit sells docklands building for €35.5m https://www.irishtimes.com/business/commercial-property/hibernia-reit-sells-docklands-building-for-35-5m-1.3845333
- Cairn seeks €90m for 280 apartments in Citywest https://www.irishtimes.com/business/construction/cairn-seeks-90m-for-280-apartments-in-citywest-1.3845998?mode=amp
- Dublin badly needs a 1,000-bedroom hotel, says Fáilte Ireland https://www.irishtimes.com/business/transport-and-tourism/dublin-badly-needs-a-1-000-bedroom-hotel-says-f%C3%A1ilte-ireland-1.3847367?mode=amp
- Brexit movers underpin record demand for offices https://amp.independent.ie/business/commercial-property/brexit-movers-underpin-record-demand-for-offices-37980555.html
- UL to purchase vacant Dunnes Stores site in Limerick https://www.rte.ie/amp/1040956/
- ‘Unauthorised’ wind farm told to cease operations https://www.irishexaminer.com/breakingnews/ireland/unauthorised-wind-farm-told-to-cease-operations-915605.html
- Sisk seals £184m Birmingham skyscraper deal | Construction Enquirer https://www.constructionenquirer.com/2019/04/01/sisk-wins-183m-birmingham-residential-skyscraper/
- City gripped by Brexit jitters ahead of construction sector report – business live https://amp.theguardian.com/business/live/2019/apr/02/city-pound-sterling-brexit-construction-pmi-christine-lagarde-imf-business-live
- UAE construction market said to be worth over $1trn https://www.arabianbusiness.com/construction/416868-284bn-construction-projects-said-to-on-hold-in-the-uae
Agile Agent – Digital Transformation for Independent Estate Agents
To get involved and for free Proptech Prompts, please
Proptech and Construction Innovation
- Are you an Irish-led or Ireland-based #proptech business? If so, please take five minutes to add or update your details to our internationally-shared listing here: SIGN UP: PROPTECH INNOVATORS and to keep up-to-date on all things tech and innovation for the planning, construction and property industries, head over to http://www.prop-tech.ie. Also, we are on a mission to get every Irish construction and property technology business registered on the global proptech database UNISSU. More details here:https://prop-tech.ie/global-proptech-data-platform-unissu-com-is-launched/
- The Danis Group: 3 Tips for Using Construction Data to Innovate On the Jobsite https://connect.bim360.autodesk.com/danis-construction-data?hs_amp=true
- Do WeWork’s Troubles Signal Co-Working Spaces Are a Bubble? https://insights.dice.com/2019/03/27/wework-troubles-co-working-bubble/amp/
- Want Your Seed-Stage Startup to Be Fundable? Check These 4 Boxes. https://www.entrepreneur.com/amphtml/331476
- A Game of Virtual Digital Assistants: the complex future of voice search and AI https://business.linkedin.com/en-uk/marketing-solutions/blog/posts/B2B-Marketing/2018/a-game-of-virtual-digital-assistants-the-complex-future-of-voice-search-and-artificial-intelligence?src=li-scin&veh=7010d000001KYeyAAGstaticGameofVirtualDigitalAssistants&cid=7010d000001KYeyAAG
- Xpanse AI is bringing data science to businesses at light speed https://www.siliconrepublic.com/start-ups/xpanse-ai-predictive-data-science
- Tenants worry smart-home tech could be abused by landlords
Worst case, landlords could use smart locks to track and harass residents. And what if you just want a key?
- PlaceTech | Women in PropTech to launch in London https://placetech.net/news/women-in-proptech-to-launch-in-london/
- PropTech: ‘Uber for Letting Agents’ moves outside of London
- Investing in people is key to your success – PropTech is neither a replacement or exception
- First UK Amazon Alexa Property Valuation Tool Is Launched https://www.todaysconveyancer.co.uk/main-news/first-uk-amazon-alexa-property-valuation-tool-launched/
- Bahrain construction news: Bahrain’s first proptech firm launched as Estater app unveiled – Products & Services – Construction Week Online https://www.constructionweekonline.com/products-services/180626-bahrains-first-proptech-firm-launched-as-estater-app-unveiled
- The Opportunity in Japanese PropTech | Propmodo https://www.propmodo.com/the-opportunity-in-japanese-proptech/
- One of Silicon Valley’s most famous VC firms says it will no longer be a VC firm — here’s why https://www.cnbc.com/amp/2019/04/02/andreessen-horowitz-says-it-will-no-longer-be-a-venture-capital-firm.html
- Rental proptech firm begins UK expansion following investment round – Property Industry Eye https://www.propertyindustryeye.com/rental-proptech-firm-begins-uk-expansion-following-investment-round/
- Blockchain trial “has potential to transform property market” – Legal Futures https://www.legalfutures.co.uk/latest-news/blockchain-trial-has-potential-to-transform-property-market
- The Construction Industry Needs a Robot Revolution https://www.wired.com/story/the-construction-industry-needs-a-robot-revolution/amp
New 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 will now appear as part of The Property Insider series, published by Oak Tree Press, the first three titles are now published and available here.
From 2019, 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/