Irish property market news and insights – by the industry, for the industry
I hope everyone had (is having?) a great Christmas break. This is the final Sunday Property Round-Up for 2019 and, as expected, industry news was very light this week. 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:
- Four graphs show how key economic trends affected people in Ireland in 2019 https://www.irishtimes.com/business/economy/four-graphs-show-how-key-economic-trends-affected-people-in-ireland-in-2019-1.4123693?mode=amp (image below)
- Top 10 Irish business (and property) stories of the decade: https://www.irishtimes.com/business/economy/top-10-business-stories-of-the-decade-1.4119566
- Majority of people in Ireland want to allow Irish citizens abroad to vote in presidential elections https://www.thejournal.ie/irish-citizens-abroad-presidential-election-poll-4928170-Dec2019/
- Half of IDA site visits by firms to Dublin: Almost half of all site visits made in Ireland by multinationals looking to set up or expand operations were to the greater Dublin area. https://www.irishexaminer.com/breakingnews/business/half-of-ida-site-visits-by-firms-to-dublin-972207.html
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.
*Listen back to all #PropertyMatters episodes here: https://anchor.fm/ipropertyradio
We will be putting together our guest and content line-up for the New Year schedule shortly, all suggestions welcome! Email the Property Matters team at hello@iPropertyRadio.com
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- ‘Toxic opposition’ to home developments from locals delays new building, warns housing chief
- As a serial ‘opt rural’-er (not a word), I am so excited by this placemaking initiative from Clare County Council – ‘Opt Rural’ Pilot Project To Be Developed In Clare – Clare FM http://www.clare.fm/news/clare-county-council/opt-rural-pilot-project-developed-clare/
- Kilkenny Group objects to Goodman family’s plan for Dublin office block https://www.irishtimes.com/business/retail-and-services/kilkenny-group-objects-to-goodman-family-s-plan-for-dublin-office-block-1.4123072?mode=amp
- ‘This will save lives’: Planning permission granted for Ireland’s first injecting centre https://www.thejournal.ie/merchants-quay-ireland-injection-centre-permission-4946922-Dec2019/
- Make a move to Dundrum: well-connected suburb with a lot of shops https://www.irishtimes.com/life-and-style/homes-and-property/make-a-move-to-dundrum-well-connected-suburb-with-a-lot-of-shops-1.4117993?mode=amp
- “At least 200 new city, county and local plans will be produced over the next six years” We need to get public consultation right. The community is not a problem to be solved but rather a collective resource to be leveraged (placemaking PLACEengage.com)
*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
- Irish Construction Data 2020: A pilot project will be kicking off in the early new year to collect Irish construction projects data in order to build industry big data. Property District is partnering with Dr. Houssem Jerbi and the team at Smart PMO to use AI (Artificial Intelligence) to develop industry collective intelligence to improve Irish construction. The predictive data analytics will help de-risk projects through reducing delays and cost-overruns.
This is an industry first for Irish construction, providing participating organisations with new, unique insights and the opportunity to benchmark individual project/organisation data against the market, essentially revealing the strengths and weaknesses of live projects and optimising projects KPIs. I will be sending an email to contractors and cost/project managers shortly, if you are interested in getting involved in this pilot project in 2020 please email email@example.com.
- Message from Ballymore company page : ‘We have acquired the 52.6-acre Harbour Point site, the former Bray Golf Club, close to Bray town centre, Ireland. Bounded on two sides by the River Dargle and the sea the site is within walking distance of Bray train station and Dart services and has the potential to deliver 1400 new homes.’
Sean Mulryan, Chairman & Group Chief Executive of Ballymore, welcomed the announcement by saying: “At Ballymore, we believe that community spirit and a shared identity brings more value to a development than bricks and mortar. I was particularly attracted to Bray, a long-established community of young families, professionals and outdoor enthusiasts with several local schools and sports clubs nearby. Our Harbour Point development will complement and enhance these elements for the benefit of the local community”. www.ballymoregroup.com
- New housing project laws unlikely to be introduced before Easter https://www.irishexaminer.com/breakingnews/ireland/new-housing-project-laws-unlikely-to-be-introduced-before-easter-972054.html
- The only way is up as Cork skyline set to change beyond recognition in years ahead | IrishExaminer.com https://amp-irishexaminer-com.cdn.ampproject.org/c/s/amp.irishexaminer.com/breakingnews/specialreports/the-only-way-is-up-as-cork-skyline-set-to-change-beyond-recognition-in-years-ahead-972189.html
- 2019: The year in UK construction headlines https://www.theconstructionindex.co.uk/news/view/2019-a-year-in-construction-headlines
- Clarence Hotel gets planning permission to double rooms https://www.irishtimes.com/business/commercial-property/clarence-hotel-gets-planning-permission-to-double-rooms-1.4125370?mode=amp
PROPTECH, MMC & CONSTRUCTION INNOVATION
- 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 *
- OnTheMarket raises £3.4m and buys into PropTech firm https://www.estateagenttoday.co.uk/breaking-news/2019/12/onthemarket-raises-3-4m-and-buys-into-proptech-firm
- Showcase your BIM data in the Building Viewer https://www.esri.com/arcgis-blog/products/js-api-arcgis/3d-gis/showcase-your-bim-data-in-the-building-viewer/
- Proptech Witnessed a Watershed Year in 2019, Will it Maintain? | GlobeSt https://www.globest.com/2019/12/26/proptech-witnessed-a-watershed-year-in-2019-will-it-maintain/
- Seven Proptech VCs Reflect On 2019 https://www.forbes.com/sites/angelicakrystledonati/2019/12/27/seven-proptech-vcs-reflect-on-2019/#494df7a87365
OTHER PROPERTY NEWS
- House prices drop over a year for the first time since crash: The price of an average house has fallen nationally over a year for the first time since the economic recovery kicked in, the Q4 Irish Independent/REA Average House Price Index has found.
The average nationwide price of a three-bedroom semi-detached house, Ireland’s most typical home type, has fallen in value by 0.6pc over the past year. This follows a 4.6pc annual rise in values in 2018.
The average family home nationally now costs €234,704 – a slight drop of 0.1pc on the Q3 figure of €235,009.
- Leo Varadkar says he isn’t ashamed of his government’s housing record https://www.thejournal.ie/leo-varadkar-housing-4946902-Dec2019/
- ‘We just can’t afford to live in Dublin’ #housing https://www.bbc.com/news/world-europe-50420548
- In the Business Post today, Aiden Corkery follows up on a social housing story that broke several months ago: Councils owed €228m in rents and loan arrears – Local authorities are being ‘actively encouraged’ to increase collection levels of both:
- An Post targets 10% share of Irish mortgage market – Chief executive David McRedmond feels the strength of the semi-state company’s brand will help it to make inroads into the market:
- Housing body Clúid secures tranche of 62 apartments in Cork – The deal will see families and single people on Cork City Council’s housing list offered affordable housing on the south side of the city: https://www.businesspost.ie/commercial/housing-body-cluid-secures-tranche-of-62-apartments-in-cork-d032dda0
- Concern In Clare Over Rebuilding Ireland Home Loan Discrimination – Clare FM http://www.clare.fm/news/housing/concern-clare-rebuilding-ireland-home-loan-discrimination/
- Substandard housing: A dozen Dublin landlords lose Hap payment https://www.irishtimes.com/news/ireland/irish-news/substandard-housing-a-dozen-dublin-landlords-lose-hap-payment-1.4123160?mode=amp
- Figures show Dublin has 4,663 short-term lets, but only 13 landlords have applied for permission https://www.breakingnews.ie/ireland/figures-show-dublin-has-4663-short-term-lets-but-only-13-landlords-have-applied-for-permission-971888.html
- ‘Cappuccino Sessions’ to co-working spaces – This Mayo bar is reimagining the Irish pub – Independent.ie https://m.independent.ie/life/travel/ireland/cappuccino-sessions-to-co-working-spaces-this-mayo-bar-is-reimagining-the-irish-pub-38803439.html
- Luxurious Luggala top of the pile in 2019 – The gorgeous Wicklow lodge, owned by the Guinness family for more than eight decades, changed hands for €25 million earlier this year:
- Knight Frank’s Adrian Trueick opines: Another bountiful year for commercial property sector – The sale of the St Stephen’s Green Shopping Centre to Davy for €175.5 million was undoubtedly the highest-profile retail investment of the year, but it was far from alone in being a huge deal:
- Ireland’s largest building sold to South Korean investors for €160m https://www.irishtimes.com/business/commercial-property/ireland-s-largest-building-sold-to-south-korean-investors-for-160m-1.4123694?mode=amp