Good morning all, this week’s Round-Up is coming to you earlier than usual – we have a lot to get through before 2018 draws to a close!
If you missed last week’s Sunday Property Round-Up, which was full of industry and tech/innovation news, you can catch up here: https://propertydistrict.ie/commercial-property-news/
Before we get started, I want to draw your attention to this positive news story:
- Unemployment drops to new post-crash low of 5.3% https://www.irishtimes.com/business/economy/unemployment-drops-to-new-post-crash-low-of-5-3-1.3719609?mode=amp
- Also, there is a Global Proptech conference taking place online until 20th December, you can register and check out the various keynote speakers and round-table discussions here: https://www.globalproptech.online/
As always, you might let me know if I have missed out on any relevant property news by emailing email@example.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!)
Sunday Read – Long awaiting changes to building heights
- Urban Development and Building Heights – now available
- Building height restrictions in towns and cities lifted https://amp.independent.ie/irish-news/news/building-height-restrictions-in-towns-and-cities-lifted-37604346.html
- Death of the semi-D as height limits scrapped https://amp.independent.ie/business/personal-finance/property-mortgages/death-of-the-semid-as-height-limits-scrapped-37606251.html
Public Consultation and Community Engagement
- Too little, too late or better late than never? ‘Supreme Court will hear Apple appeal in Galway’ https://www.rte.ie/amp/1015305/
- Macra na Feirme to carry out national consultation of members in wake of rural report https://amp.independent.ie/business/farming/rural-life/macra-na-feirme-to-carry-out-national-consultation-of-members-in-wake-of-rural-report-37597912.html
- Rejuvenating Ireland’s Small Town Centres – Meeting The Challenge: https://www.scsi.ie/insight/rejuvenating_irelands_small_town_centres
- This is an important insight into how planning objections work- I look forward to disrupting this in 2019: ‘Applegreen built a fuel station exactly where it said a rival’s plan would cause traffic chaos’ – Fora
- The Future of Planning is Collaborative | PLACEengage https://placeengage.com/the-future-of-planning-in-collaborative/
*PLACEengage: The future of speedy, successful placemaking for property developers is here – LAUNCHING JANUARY 2019!
Other Property News
- Green Party candidate and founder of New Beginning, Vincent P Martin, has a difficult opinion piece in the Sunday Independent today, writing that “Owning a home is now an impossible dream for ordinary working people. The young and the less well off are paying for our past sins – and this stops the growth of a dynamic society”. He points to the cruel absurdity of people [in Tallaght, for example] struggling to pay €2,016 to rent a three-bed home when the cost of servicing a mortgage for the same property would only run to €985 per month. Of course, that makes sense on a simplistic model, assuming 100% mortgages and ongoing State supports. But is that sustainably workable? Most likely not, but that does not mean that we must accept the status quo.
- Michael Cogley, writing in the business section of the Sunday Independent today reports that Maxol has been given the go-ahead to build 90 new homes on the site at Beech Road, Sandymount.
- Karl Deeter has a very Karl Deeter-esque (it’s a compliment!) column in the Independent stating that the keys to wealth are (1) education, (2) buying property and (3) getting married and staying married. I don’t even need to explain this further such is its simple genius. I guess, as Meatloaf would agree, two of out three ain’t bad…
- In the business section of The Sunday Times today, it is reported that the Central Bank wishes to install a 30-metre long “skybridge” between its offices in the Docklands.
- Also, in the Times, the number of home buyers who need to borrow the (non-exemption) maximum of 3.5 times their income has jumped from 21% to 27% over the past two years.
- There is a great feature on Iconic Offices and interview with the company’s chief Joe McGinley on page 4 of the business section. Iconic Offices has been a leading light in the co-working movement in Ireland and to say that the team there raised the bar in terms of sheer design innovation and offering is an understatement.
- In the Money section, Eithne Dunne has an in-depth feature on home insurance, which might be timely for many.
- In The Sunday Business Post today, Jack Horgan-Jones reports that An Bord Pleanàla has rejected efforts to keep the €100 million Player Wills site off the vacant site register [for levy].
- The property section of the SBP has an interesting year-end review of the market place by regular advertisers and key takeaways from the most recent summit/event, namely, “the solution lies in increasing urban density…”.
- Property experts predict steady but unspectacular property growth in 2019 https://www.irishtimes.com/life-and-style/homes-and-property/property-experts-predict-steady-but-unspectacular-property-growth-in-2019-1.3718587?mode=amp
- New homes supply only likely to start meeting demand by 2021, says Irish banking group https://www.irishexaminer.com/breakingnews/business/new-homes-supply-only-likely-to-start-meeting-demand-by-2021-says-irish-banking-group-889857.html
- Departments clash over changes to short-term rentals https://www.irishtimes.com/news/politics/departments-clash-over-changes-to-short-term-rentals-1.3717705
- Marlet acquires Apollo House site in deal worth more than €50m https://amp.independent.ie/business/commercial-property/marlet-acquires-apollo-house-site-in-deal-worth-more-than-50m-37588449.html
- KBC completes sale of €1.9bn of loans held by its Irish unit to Goldman Sachs https://amp.independent.ie/business/irish/kbc-completes-sale-of-1-9bn-of-loans-held-by-its-irish-unit-to-goldman-sachs-37588657.html
- EIB launching new scheme to build social housing alongside Government https://amp.independent.ie/business/irish/eib-launching-new-scheme-to-build-social-housing-alongside-government-37601137.html
- An Bord Pleanala gives green light to McKillen https://amp.independent.ie/business/commercial-property/an-bord-pleanala-gives-green-light-to-mckillen-37598737.html
- Facebook and Google top 2018’s big Dublin property deals https://www.irishtimes.com/business/commercial-property/facebook-and-google-top-2018-s-big-dublin-property-deals-1.3707158?mode=amp
- Thousands of modular homes now being built in the UK – PropertyWire https://www.propertywire.com/news/uk/thousands-of-modular-homes-now-being-built-in-the-uk/
- Property developers offer free flats to homeless people https://stv.tv/news/north/1433522-property-developers-offer-to-house-homeless-free-of-charge/
- Kennedy Wilson tops out with Elysian OPW let | Irish Examiner https://www.pressreader.com/ireland/irish-examiner/20181206/282196537028701
- It took 9 consecutive questions for bank execs to admit €1.3bn mortgage ‘vehicle’ won’t pay tax https://www.thejournal.ie/ptsb-pepper-sale-4380329-Dec2018/?amp=1
- Dublin gets wheels in motion for €9bn six-line, Madrid-influenced https://www.smartrailworld.com/dublin-gets-wheels-in-motion-for-9bn-madrid-influenced-six-line-metro?hs_amp=true
- The prefab house of the future is made from recycled, reusable, and sustainable materials https://inhabitat.com/the-prefab-house-of-the-future-is-made-from-recycled-reusable-and-sustainable-materials/
12-month digital transformation programme for independent estate agents and auctioneers across Ireland
Getting Ireland’s property marketplace digital by default
To get involved and for free Proptech Prompts, please
**Also, please note that I will be delivering an Agent Agile keynote address online to estate agents globally on December 13th, 2018 – link to reserve your spot: https://online-global-proptech.iseated.com/session/23853
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, the national resource website for innovators, investors and mentors or email firstname.lastname@example.org .
- PropTech in Ireland 2018 via FUTURE:PropTech https://futureproptech.co.uk/blog/overview-of-the-irish-proptech-sector-2018
- Digital estate agency Emoov enters administration and Shares in Purplebricks — which are listed on London’s junior market — are down 64 per cent since a peak in January to 177p. https://www.ft.com/content/2eaef058-f739-11e8-af46-2022a0b02a6c
- Also, Lots of insights here about the B2C market, and not just property… #proptech
eMoov learned the hard way what it costs to win – Episode 1 – Medium https://medium.com/@episode1/emoov-learned-the-hard-way-what-it-costs-to-win-9a4d37446653
- 95% of property valuations will be completed accurately online by 2023 #proptech https://thenegotiator.co.uk/property-valuations-andrew-baum/
- KPMG Global PropTech Survey 2018 (just in case you missed it the first time around!):
– 73 percent see digital and technology innovation as an opportunity. A further 25 percent see it as both an opportunity and threat.
– 93 percent believe “Traditional real estate organizations need to engage with PropTech companies in order to adapt to the changing global environment”.
– 66 percent do not have a clear enterprise-wide vision and strategy when it comes to digital and technology innovation.
- Some interesting points here, but don’t forget that startups need access to testing environments – sometimes the greatest cost to the agent is time but the payout can be huge!
‘Why the best #PropTech isn’t expensive…’
- PlaceTech | Concrete VC: “Construction tech will dominate the market” https://placetech.net/analysis/concrete-vc-construction-tech-will-dominate-the-market/
- Google’s Drone Delivery Trial Shows Why Finland Is a Perfect Testing Ground for PropTech | Propmodohttps://propmodo.com/googles-drone-delivery-trial-shows-why-finland-is-a-perfect-testing-ground-for-proptech/
- Opinion: residential leasing is on the front line of disruption – ArabianBusiness.com https://www.arabianbusiness.com/property/409009-residential-leasing-is-the-front-line-of-disruption
- Industrial lights are really dull – and that’s given birth to a whole new industry https://fora.ie/lighting-as-a-service-industry-ireland-4364387-Dec2018/
- Via JLL; Drones are an increasingly common sight in the skies from building maintenance to goods delivery – and this is just the start. View the slideshow to see how fresh thinking is taking them to the next level: http://jll.link/6049EGvtx
- Smart city device shipments expected to grow from 202 million in 2017 to 1.4 billion by 2026 https://bit.ly/2BNNcc8#SmartCity
- Don’t forget to register for the Global Proptech conference taking place online until 20th December, link here: https://www.globalproptech.online/
Crowd-sourcing: New Facebook Group for Irish Property Buyers & Investors
As many of you might know, my annual property book The Irish Property Buyers’ Handbook (since 2011) has undergone a rebrand for 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.
For the first time, the 2019 edits will be crowd-sourced and will include 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/