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:
- Important News for Residential Letting Agents in Ireland – This is an important ruling for many reasons, estate and letting agents cannot ignore it. In practice, I robustly disagree that insisting on references from potential tenants is contrary to human rights and it will likely pose many challenges for letting agents, who are engaged ostensibly to find the best possible tenants for their landlord clients: https://propertydistrict.ie/important-news-for-residential-letting-agents-in-ireland/
- Crowdfunders out in Force to buy West Cork island https://amp.irishexaminer.com/breakingnews/ireland/crowdfunders-out-in-force-to-buy-west-cork-island-945153.html
- Access to land is a barrier to simpler, sustainable living. Public housing could offer a way forward https://theconversation.com/amp/access-to-land-is-a-barrier-to-simpler-sustainable-living-public-housing-could-offer-a-way-forward-121246
- New ‘Returning to Ireland’ resource to help Irish expats on their journey home https://www.thejournal.ie/expats-resources-coming-home-citizens-information-4777042-Aug2019/?amp=1
- Nearly 100 State buildings managed by Office of Public Works lying idle around the country https://www.thejournal.ie/vacant-state-properties-ireland-4762378-Aug2019/?amp=1
- SCSI concerned Help-to-Buy scheme not addressing the high costs of construction in Ireland – #Budget2020 Submission ow.ly/GJYc50vBN6Z or read the full submission here: ow.ly/k7RH50vBN6Y
- Licence fee’s replacement may be linked to local property tax https://www.irishtimes.com/news/ireland/irish-news/licence-fee-s-replacement-may-be-linked-to-local-property-tax-1.3991007?mode=amp
- TDs criticise granting of €14m contract to construction company caught up in ‘defective schools’ controversy – Independent.ie https://amp.independent.ie/incoming/tds-criticise-granting-of-14m-contract-to-construction-company-caught-up-in-defective-schools-controversy-38415129.html
- Kingspan sets carbon positive target https://www.theconstructionindex.co.uk/news/view/kingspan-sets-carbon-positive-target
- No Hollywood ending: Los Angeles property listed for $1bn sells at $100,000 https://www.theguardian.com/us-news/2019/aug/21/los-angeles-billion-dollar-lot-sold
- Welcome to housing Twitter, the shoutiest debate on the internet https://www.fastcompany.com/90384931/welcome-to-housing-twitter-the-shoutiest-debate-on-the-internet
- Unmortgage – the scheme that helps you buy a home without a mortgage https://www.idealhome.co.uk/news/unmortgage-232552/amp
- IKEA and Queen of Sweden adapt modular BoKlok housing for the elderly https://www.dezeen.com/2019/08/20/ikea-boklok-prefabricated-silviabo-elderly-housing/amp/
- Study reveals desire for more unconventional properties – PropertyWire https://www.propertywire.com/news/uk/study-reveals-desire-for-more-unconventional-properties/
- Investors in Grand Designs host’s eco-homes face huge financial losses – Independent.ie https://m.independent.ie/life/home-garden/investors-in-grand-designs-hosts-ecohomes-face-huge-financial-losses-38429984.html
- US investors still largest buyers of Dublin offices – Independent.ie https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/commercial-property/us-investors-still-largest-buyers-of-dublin-offices-38424951.html
- Related: Anyone with an interest in Dublin’s office market won’t want to miss the next Bisnow Europe event at Dublin Airport Central with U+i, Hubspot, Turner & Townsend, Trinity College Dublin, Equiem, Kellogg’s, Coady Architects and mac-group:
RISE & SHINE: THE FUTURE OF DUBLIN’S WORKSPACE INDUSTRY https://propertydistrict.ie/rise-shine-the-future-of-dublins-workspace-industry/
- Also, for anyone with an interest in the future of digital planning and digital construction, the next CitA #TechTrend talk is taking place on Wednesday the 28th at the Bank Of Ireland Work Bench at Grand Canal: ‘Emerging Technologies Transforming Urban Planning’, featuring:
– Hrishikesh Ballal – Geodesignhub
– Nicholas Polley – 3D Design Bureau
– Stuart Doherty – Ordnance Survey Ireland
Attendance is free but booking essential: https://lnkd.in/dhVT897
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@caroltallon.com.
(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!)
Architect Humour!
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). 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.
Sustainable apartment living for Ireland summary
A new report on sustainable apartment living in Ireland was launched recently by the Housing Agency and Clúid Housing. Apartment living in Ireland has increased over the last few years and, according to the report, the number of apartments in Ireland has increased by 85% between 2002 and 2016.
We were joined in studio to discuss the report findings and proposed reforms by:
- David Rouse, Housing Agency
- Fiona Dunkin, Cluid Housing
- Paul Mooney, Report Author
- Des McCabe, Apartment Owners Network
You can link to the full report here: https://www.housingagency.ie/sites/default/files/2019-06/HA19011%20OMC%20report%20p1-100%20onlineV3.pdf
Listen back to this episode here: https://anchor.fm/ipropertyradio/episodes/Property-Matters–August-20th-2019—Owners-Management-Companies-Special-e52n9i
*Listen back to all #PropertyMatters episodes here: https://anchor.fm/ipropertyradio
Email the Property Matters team at hello@iPropertyRadio.com
PLACEMAKING
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- Westport garden has been sold for €500,000 | PLACEengage https://placeengage.com/westport-garden-has-been-sold-for-e500000/
- Why placemaking matters: ‘Words fail me,’ thousands of euro worth of damage done to new social houses in Carlow https://www.carlowlive.ie/news/home/472003/words-fail-me-thousands-of-euro-worth-of-damage-done-to-new-social-houses-in-carlow.html
- Co-living residents may fall outside rental protections https://www.irishtimes.com/news/social-affairs/co-living-residents-may-fall-outside-rental-protections-1.3990143?mode=amp This is the lead news story in The Sunday Business Post today, by Killian Woods.
- In the Sunday Independent today, Joe O’Reilly (Chartered Land & Suirside Developments) becomes the latest Irish developer to enter a co-living consultation with An Bord Pleanala (re: 28 units to alongside the 408 BTR apartments on Parkgate Street in Dublin 8). This is also covered by The Sunday Times today.
- Dún Laoghaire seeks new plan to regenerate harbour and town https://www.irishtimes.com/news/environment/d%C3%BAn-laoghaire-seeks-new-plan-to-regenerate-harbour-and-town-1.3994334?mode=amp
- Proposal for 11-storey apartment complex in south Dublin likely to face opposition https://www.thejournal.ie/donnybrook-apartment-proposal-4774826-Aug2019/?amp=1
- Mid Louth celebrations at 100 new homes https://m.independent.ie/regionals/argus/news/mid-louth-celebrations-at-100-new-homes-38416541.html
- Locals may go to High Court to block big housing project for Magee Barracks site, meeting hears https://www.kildarenow.com/news/home/472915/locals-considering-court-action-to-block-big-housing-project-for-magee-barracks-site-meeting-hears.html
- Cavan village in bid to attract new families https://www.rte.ie/amp/1069935/
- In The Sunday Business Post today, Roisin Burke reports that Bulloch Harbour locals (led by Pat Kenny) have now lodged legal proceedings to have the planning decision in favour of Richard Barrett/Bartra’s proposed development examined by the courts. I have no doubt that we will return to this over the coming weeks and months.
OTHER PROPERTY NEWS
- Colm McCarthy has an opinion piece in the Sunday Independent today, ‘We must make sure what the Government builds is proved to be worth public money’. He is calling for “an effective system of cost-benefit analysis” for major projects on foot of two recent, high-profile, capital programme overruns (National Children’s Hospital and the National Broadband Plan). He objects to “project champions [who] continue to mark their own homework” and goes on to say that “Since the demands on the public capital programme will always exceed the available resources, the selection of bad projects is not a victimless crime”.
- The lead business story in the Independent today reports that ‘Cherrywood facing ‘severe delays’ over €62m funding gap’: https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/irish/cherrywood-facing-severe-delays-over-62m-funding-gap-38432976.html
- Also in the Sunday independent today, Dan White has a feature on Ireland’s private rental sector. The most recent Daft.ie report shows that rents have risen an average of 6% nationwide over the past 12 months. Professor Ronan Lyons is quoted in the feature “…And things are not going to get any better any time soon…”. Rents in Ireland are now 35% above previous peak or pre-crash prices.
- Donal Lynch: ‘Frank McNamara and Theresa Lowe, and their ‘unbelievable deal’’ – Independent.ie https://m.independent.ie/opinion/columnists/donal-lynch-frank-mcnamara-and-theresa-lowe-and-their-unbelievable-deal-38433862.html
- One of the lead business stories in The Sunday Times today (by Gavin Daly) reports that Glenveagh Properties “aims to find an institutional buyer for 1,200 apartments” it is building in the Docklands. (More Glenveagh news below, including the departure of Justin Bickle).
- Also in the Times, Sean Pollock looks at how Collen Construction will mitigate against possible shortages and delays caused by Brexit.
- The property supplement in The Sunday Times today has features on Sligo Town and, separately, a look back at 20 years of Grand Designs with Kevin McCloud.
- Social housing body Tuath gets €120m to deliver 2,000 homes | BusinessPost.ie: Tuath already has 5,000 homes under management and this is set to increase to 7,000 by 2022. https://www.businesspost.ie/news/social-housing-body-tuath-gets-e120m-deliver-2000-homes-450805
- Also in The Sunday Business Post: Google plans sports facility add-on at Boland’s Mill site; Davy seeks to raise another €50 million to expand Dublin property portfolio; and Judge is Garrett Kelleher’s long-standing US case will enter judgement of $15.17m against Kelleher is settlement is not reached by the end of September.
- Almost 40% of surveyors expect Dublin house prices to fall https://www.irishtimes.com/business/construction/almost-40-of-surveyors-expect-dublin-house-prices-to-fall-1.3993279?mode=amp
- The Irish For: Rising rents mean many prospective tenants are giving Dublin a goodbye ‘cíos’ https://www.thejournal.ie/readme/the-irish-for-dublin-4779683-Aug2019/?amp=1
- College living: the pitfalls of buying property for your children https://www.irishtimes.com/life-and-style/homes-and-property/college-living-the-pitfalls-of-buying-property-for-your-children-1.3991977?mode=amp
- Average monthly rents hit record level – report https://www.rte.ie/news/2019/0820/1069774-record-rent-level-report/
- Rising number of tenants refusing to leave homes https://www.irishtimes.com/news/social-affairs/rising-number-of-tenants-refusing-to-leave-homes-1.3992211?mode=amp
- Negative mortgage rates? Don’t expect the Irish to follow the Danes https://www.irishtimes.com/business/personal-finance/negative-mortgage-rates-don-t-expect-the-irish-to-follow-the-danes-1.3990778?mode=amp
- Banks use time limit to challenge tracker mortgage complaints to Ombudsman https://www.thejournal.ie/tracker-mortgage-ombudsman-4772094-Aug2019/?amp=1
- Decision to end grants under SEAI scheme is reversed https://www.rte.ie/amp/1069653/
- WATCH: Auctioneer allays fears after work stops at Limerick housing development https://www.limerickleader.ie/video/planning/438529/watch-auctioneer-allays-fears-after-work-stops-at-limerick-housing-development.html
- Value of development land sold rises to almost €500m in first half https://www.irishtimes.com/business/commercial-property/value-of-development-land-sold-rises-to-almost-500m-in-first-half-1.3993989?mode=amp
- Sustainable Apartment Living For Ireland | Construction BUSINESS http://www.constructionbusiness.ie/sustainable-apartment-living-for-ireland/
- Ires gets planning permission for 428 new apartments in Dublin – Independent.ie https://amp.independent.ie/business/commercial-property/ires-gets-planning-permission-for-428-new-apartments-in-dublin-38425746.html
- Western counties hit hardest by jump in commercial property vacancies – Independent.ie https://m.independent.ie/business/commercial-property/western-counties-hit-hardest-by-jump-in-commercial-property-vacancies-38424935.html
- Dún Laoghaire council to build affordable homes for sale near Foxrock https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/news/social-affairs/d%C3%BAn-laoghaire-council-to-build-affordable-homes-for-sale-near-foxrock-1.3990107?mode=amp
- Naas Shopping Centre is to be finally sold off https://www.leinsterleader.ie/news/news/472083/naas-shopping-centre-is-to-be-finally-sold-off.html
- Housing development planned for Roscrea – Tipp FM https://tippfm.com/news/housing-development-planned-roscrea/
- Glenveagh spends €31m on sites capable of delivering 650 homes – Independent.ie https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/personal-finance/property-mortgages/glenveagh-spends-31m-on-sites-capable-of-delivering-650-homes-38429547.html
- Glenveagh’s Interim Results 2019 are now available here: https://bit.ly/33SeIPQ
- Appeals board overrules inspector to give go-ahead for 450 build-to-rent apartments In Dublin https://amp.breakingnews.ie/ireland/appeals-board-overrules-inspector-to-give-go-ahead-for-450-build-to-rent-apartments-in-dublin-945091.html
- Plans lodged to construct 759 homes in Arklow http://wicklownews.net/2019/08/plans-lodged-to-construct-759-homes-in-arklow/
- Meath Chronicle – 228-unit housing proposal for Ratoath https://www.meathchronicle.ie/news/roundup/articles/2019/08/22/4178568-228unit-housing-proposal-for-ratoath/
- Mastercard seeks bigger Dublin office amid rapid expansion https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/financial-services/mastercard-seeks-bigger-dublin-office-amid-rapid-expansion-1.3995411?mode=amp
- Up to €19m of commercial lots for online auction – Independent.ie https://amp.independent.ie/business/commercial-property/up-to-19m-of-commercial-lots-for-online-auction-38424956.html
- German fund Patrizia acquires €52.5m docklands development https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/german-fund-patrizia-acquires-52-5m-docklands-development-1.3991919?mode=amp
- Former CIE chairman strikes deal to manage $100m Sotheby’s portfolio – Independent.ie https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/former-cie-chairman-strikes-deal-to-manage-100m-sothebys-portfolio-38432992.html
- Wind farm’s €100m sale brings big guns to the bidding table https://www.irishtimes.com/business/energy-and-resources/wind-farm-s-100m-sale-brings-big-guns-to-the-bidding-table-1.3994349?mode=amp
- Investment of €9bn may be needed to power data centres https://www.irishtimes.com/business/energy-and-resources/investment-of-9bn-may-be-needed-to-power-data-centres-1.3994500?mode=amp
- City planners tighten rules to avoid tower downdraughts | Construction Enquirer https://www.constructionenquirer.com/2019/08/20/city-planners-tighten-rules-to-avoid-tower-downdraughts/
- Fusion21 seeks contractors for £250m UKframework https://www.theconstructionindex.co.uk/news/view/fusion21-seeks-contractors-for-250m-framework
- Laser protection for overhead lines https://www.theconstructionindex.co.uk/news/view/laser-protection-for-overhead-lines
- 5,000 tonne crane ready for work https://www.theconstructionindex.co.uk/news/view/5000-tonne-crane-ready-for-work
- Graham completes first Dounreay concrete pour [ – with video] https://www.theconstructionindex.co.uk/news/view/graham-completes-first-dounreay-concrete-pour-with-video
THE AGILE AGENT
GETTING IRELAND’S PROPERTY MARKETPLACE DIGITAL BY DEFAULT
The Agile Agent is a 12-month digital transformation programme for independent Irish estate agents and auctioneers, which runs from September – August. This programme will be delivered by a multi-disciplinary Irish and UK team and will go beyond proptech adoption to help agents get their industry digital by default.
To get involved and for free Proptech Prompts, please
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 *
- Don’t miss CitA’s ‘Emerging Technologies Transforming Urban Planning’, on Wednesday morning at BOI Grand Canal – Attendance is free but booking essential: https://lnkd.in/dhVT897 (image above)
- To BIM, or not to BIM? That is the Question! | BIMIreland.ie | Ireland’s Only Dedicated BIM Exclusive Resource http://www.bimireland.ie/2019/01/07/to-bim-or-not-to-bim-that-is-the-question/ (image below)
- Tesla to Launch Solar Roof Business in Europe Next Year https://www.bloomberg.com/amp/news/articles/2019-08-18/tesla-to-launch-solar-roof-business-in-europe-next-year
- “Beyond expectations”: Construction startup Ynomia bags $3.6 million from the investors of its dreams – SmartCompany https://www.smartcompany.com.au/startupsmart/news/construction-startup-ynomia-investors/
- The future of construction is digital – take a glimpse https://www.autodesk.co.uk/campaigns/ciob-reimagining-future-of-construction/paper?mktvar002=1066899&utm_medium=social-pd&utm_source=linkedin&utm_campaign=emea-aec-digital-construction&utm_id=1066899
- What the Biggest Ever Funding Round in TeX Software Means for the Real Estate Industry | Propmodo https://www.propmodo.com/what-the-biggest-ever-funding-round-in-tex-software-means-for-the-real-estate-industry/
- Better.com, A Digital Mortgage Disruptor, Raises $160 Million In Latest Funding Round https://www.forbes.com/sites/elisabethbrier/2019/08/19/bettercom-a-digital-mortgage-disruptor-raises-160m-in-latest-funding-round/amp/
- Fifth Wall Hosts Its First Asia Proptech Conference https://medium.com/fifth-wall-insights/fifth-wall-hosts-its-first-asia-proptech-conference-d5cfd4c7358a
- This German proptech startup secures €13M, wants to create first digital ecosystem around housing | Silicon Canals https://siliconcanals.com/news/startups/this-german-proptech-startup-secures-e13m-wants-to-create-first-digital-ecosystem-around-housing/
- Berlin-based proptech COSI raises €5 million seed to combine the best of boutique hotels and AirBnB | EU-Startups https://www.eu-startups.com/2019/08/berlin-based-proptech-cosi-raises-e5-million-seed-before-launch-to-combine-the-best-of-boutique-hotels-and-airbnb/
- Modular smart-home startup Blokable raises $23M, plans new California manufacturing facility https://www.geekwire.com/2019/seattle-housing-startup-blokable-raises-23m-plans-new-california-manufacturing-facility/
- Aecom makes breakthrough with 3D-printed graphene arch https://www.theconstructionindex.co.uk/news/view/aecom-makes-breakthrough-with-3d-printed-graphene-arch
- Over 600 startups active in smart buildings sector | asmag.com https://www.asmag.com/mobile/article_detail.aspx?aid=30420
- PropTech Today: Can €19 million disrupt an entire sector? https://www.estateagenttoday.co.uk/breaking-news/2019/8/proptech-today-can-19-million-disrupt-an-entire-sector
- Proptech and the proper use of technology for house sales prediction https://www.kdnuggets.com/2019/08/proptech-technology-house-sales-prediction.html
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/