Typical for this time of year, industry news and coverage is light – The Sunday Business Post carries the bulk of the industry news 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:
- Most interesting read of the week: ‘The lonely life of a Dublin crane operator: A view of the boom from above’ https://www.irishtimes.com/life-and-style/people/the-lonely-life-of-a-dublin-crane-operator-a-view-of-the-boom-from-above-1.3944354?mode=amp
- Dublin council depot sites could deliver over 1,000 homes – so why are we waiting? https://www.thejournal.ie/dublin-city-council-depots-housing-plan-4720086-Jul2019/
- Brand matters – Orphanage owners apologise for ‘tone deaf’ naming decision https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/life-and-style/homes-and-property/orphanage-owners-apologise-for-tone-deaf-naming-decision-1.3946687?mode=amp
- ‘The scale and complexity of our current housing crisis mean that we need to continue to be innovative and radical in our approach’ – VIEWdigital http://viewdigital.org/2019/07/02/the-scale-and-complexity-of-our-current-housing-crisis-mean-that-we-need-to-continue-to-be-innovative-and-radical-in-our-approach/
- Hand signals for when excavators are used as cranes: new code of practice https://www.theconstructionindex.co.uk/news/view/hand-signals-for-when-excavators-are-used-as-cranes-new-code-of-practice
- 2019 International Architecture Awards Winners Announced https://www.archdaily.com/920476/2019-international-architecture-awards-winners-announced
- Tech start-ups look to disrupt the affordable housing industry – The Washington Post https://beta.washingtonpost.com/realestate/tech-start-ups-look-to-disrupt-the-affordable-housing-industry/2019/07/11/6ca0a678-9f30-11e9-b27f-ed2942f73d70_story.html?outputType=amp
- Foreign investors have been made scapegoats for Ireland’s housing crisis https://www.irishtimes.com/opinion/foreign-investors-have-been-made-scapegoats-for-ireland-s-housing-crisis-1.3954089?mode=amp
- Sharing apprentices required in West of Ireland to increase wet trades – Construction Industry Federation https://cif.ie/2019/07/10/sharing-apprentices-required-in-west-of-ireland-to-increase-wet-trades/
- No Place For Old Men: Middle-Income Seniors Facing A Shortage Of Housing Options: https://www.bisnow.com/national/news/senior-housing/middle-income-seniors-facing-a-shortage-of-housing-options-99796
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!)
#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. Produced by Katie Tallon of Hear Me Roar Media.
*Listen back to all #PropertyMatters episodes here: https://anchor.fm/ipropertyradio
Email the Property Matters team at hello@iPropertyRadio.com
Also, I joined Pat Kenny on Newstalk to discuss the likely impact of a hard Brexit on Ireland’s property market, the growing BTR sector (social engineering by cuckoo funds – which I reject!), extension of the help-to-buy scheme and the likelihood of price drops:
Listen back here: https://www.newstalk.com/shows/pat-kenny-show-234857
Public Consultation and Community Engagement
- Developers reveal plans for Ireland’s tallest building at Port of Cork site … twice the height of Elysian Tower https://www.echolive.ie/corknews/Developers-reveal-plans-for-Irelands-tallest-building-at-Port-of-Cork-site-twice-the-height-of-Elysian-Tower-59c240f1-a221-4f81-9ccd-0416db5d7463-ds
- Construction begins on Galway’s €105m Bonham Quay https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/construction-begins-on-galway-s-105m-bonham-quay-1.3950279?mode=amp
- In Search of Place – StreetDots https://www.streetdots.co.uk/in-search-of-place/
- Social housing units planned for Knocklyon United are scrapped https://echo.ie/show/article/social-housing-units-planned-for-knocklyon-united-are-scrapped #publicconsultation #communityengagement
- Plans for over 250 homes on Hollystown Golf Club lands rejected as ‘substandard form of development’ https://www.thejournal.ie/housing-golf-course-4715436-Jul2019/?amp=1
- Bord Pleanála rejects ‘fast-track’ plans for 3,770 new homes https://www.irishtimes.com/life-and-style/homes-and-property/bord-plean%C3%A1la-rejects-fast-track-plans-for-3-770-new-homes-1.3952587?mode=amp
- Former Cork office block to undergo €10m conversion into local authority downsizing housing project https://www.irishexaminer.com/breakingnews/ireland/former-cork-office-block-to-undergo-10m-conversion-into-local-authority-downsizing-housing-project-935736.html
- One-way system proposed for Inchicore to save trees https://www.irishtimes.com/news/ireland/irish-news/one-way-system-proposed-for-inchicore-to-save-trees-1.3952956?mode=amp
- Dublin site that could provide 2,600 homes is bought by US group for over €120m https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/dublin-site-that-could-provide-2-600-homes-is-bought-by-us-group-for-over-120m-1.3954283?mode=amp
*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
- One of the lead stories in the Business section of The Sunday Times (by Niall Brady) reports: ‘Equity release back on for older homeowners’ – this comes on foot of “tweaked” Central Bank rules to allow equity releases for older homeowners.
- Co-living remains in the news; Brian Carey reports that Bartra will need to “shave off up to 20” beds from the Dun Laoghaire scheme in order to comply with An Bord Pleanala rules.
- Also in the Business section of The Sunday Times today: The Ireland Strategic Investment Fund (Isif) has committed €140m into Irish LIfe Investment Managers PRS fund; Cerberus Capital Management has offered to “halt” repossessions for up to 2,000 homeowners if the homeowners sign up for the State-backed long term tenancy scheme; Cormac Lucey writes that the ‘State has let us all down with its draconian stance on private rental market’.
- In the Sunday Independent, Marc Coleman opines that ‘Our €215bn debt doesn’t mean we can’t do social housing: As the homelessness crisis continues, voters will want results, even if it means State spending’.
- One of the lead stories in The Sunday Business Post today reports that ‘9 out of 10 Homes Fail Rental Standards’. This refers to 16,441 homes within the rent pressure zones that were randomly inspected by the local authorities – 90.3% failed to meet minimum housing standards.
- Also in the SBP today: ‘Social housing builds in Cork far outstrip new private homes’; Lorcan Sirr writes that ‘We need to put people before profits in our planning policy’; Press Up (Paddy McKillen Jnr and Matt Ryan) will redevelop Odessa nightclub as a boutique hotel; and it looks like a second round of bids for Green Reit is due later this month.
- What are the tips I need to know before buying my first home? https://www.homesandproperty.co.uk/property-news/legal-qa/first-time-home-buyer-guide-what-are-the-tips-i-need-to-know-before-buying-my-first-home-a131836.html?amp
- First time buyers: Top tips for attending house viewings https://www.dublinlive.ie/news/property/first-time-buyer-viewing-tips-16536329
- Mortgage cuts for all are now on the horizon – Independent.ie
- Claiming an exemption from property tax? Now you must prove it https://www.irishtimes.com/business/personal-finance/claiming-an-exemption-from-property-tax-now-you-must-prove-it-1.3952689?mode=amp
- My refurb plans seem light on detail, do we have to go back to the drawing board? https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/life-and-style/homes-and-property/my-refurb-plans-seem-light-on-detail-do-we-have-to-go-back-to-the-drawing-board-1.3947613?mode=amp
- Help-to-Buy: who it helps, who it doesn’t and will it be extended? https://www.irishtimes.com/business/personal-finance/help-to-buy-who-it-helps-who-it-doesn-t-and-will-it-be-extended-1.3950326?mode=amp
- A return to a ‘normal’ housing market is still some way off https://www.irishexaminer.com/breakingnews/business/columnists/a-return-to-a-normal-housing-market-is-still-some-way-off-935584.html
- Over €600,000 in vacant site levies paid in Dublin https://www.irishtimes.com/news/environment/over-600-000-in-vacant-site-levies-paid-in-dublin-1.3949470
- Wealthy business people urged to buy properties for homeless people https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/construction/wealthy-business-people-urged-to-buy-properties-for-homeless-people-1.3949547?mode=amp
- Institutional buyers ‘primary reason’ apartments being built https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/construction/institutional-buyers-primary-reason-apartments-being-built-1.3947505?mode=amp
- Not-for-profit aims to offer alternative to “vultures” https://www.rte.ie/amp/1061055/
- Core housing scheme delivers just 814 homes https://www.thetimes.co.uk/article/core-housing-scheme-delivers-just-814-homes-nhst6rzs2
- Retrofitting homes could ‘provide significant bundles of work’ amid fears up to 60,000 jobs could be lost in no-deal Brexit https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/jobs/retrofitting-homes-could-provide-significant-bundles-of-work-amid-fears-up-to-60000-jobs-could-be-lost-in-nodeal-brexit-38300670.html
- Green light for €350m city quarter at Wilton Park in Dublin 2 https://www.irishtimes.com/business/commercial-property/green-light-for-350m-city-quarter-at-wilton-park-in-dublin-2-1.3954974?mode=amp
- Growth in building activity slows, but housing steady https://www.rte.ie/amp/1060749/
- Planning refused for 413 homes in Wexford https://amp.breakingnews.ie/ireland/planning-refused-for-413-homes-in-wexford-936685.html
- Dublin Office Marketview Q2 2019 | CBRE https://www.cbre.com/report-download?PUBID=598f85f0-8dc6-4a42-a696-cf2a1815b5cc
- Irish construction activity slows as sentiment declines – similar to UK trends:
- South Dublin County Council Initiate €1 billion Investment Plan to kick-start Building of 4,500 New Homes – Construction Network Ireland http://www.constructionnetworkireland.com/south-dublin-county-council-initiate-e1-billion-investment-plan-kick-start-building-4500-new-homes/
- Many commercial sales have gone under the radar – Independent.ie https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/commercial-property/many-commercial-sales-have-gone-under-the-radar-38301008.html #offmarket
- Conditional €47m deal agreed for sale of vast Cork docklands site https://amp.irishexaminer.com/breakingnews/ireland/conditional-47m-deal-agreed-for-sale-of-vast-cork-docklands-site-935660.html
- Cork event centre doubts as building costs soar https://amp.irishexaminer.com/breakingnews/ireland/cork-event-centre-doubts-as-building-costs-soar-936160.html
- Interserve picked for £8m special academy build https://www.theconstructionindex.co.uk/news/view/interserve-picked-for-8m-special-academy-build
- Foundations specialist Aspin goes into administration | Construction Enquirer https://www.constructionenquirer.com/2019/07/11/foundations-specialist-aspin-goes-into-administration/
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.
*Q4. June – August 2019 Agile Agent coming shortly
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: PROPTECH INNOVATORS and STARTUPS
- Guest post by Paul McDonald, Sonitus Systems www.sonitussystems.com:
‘Tayto Park €14m rollercoaster refused due to noise impact on residents – PropTech Ireland https://prop-tech.ie/tayto-park-e14m-rollercoaster-refused-due-to-noise-impact-on-residents/‘
- What is an ibuyer service and how will it impact property buyers and sellers? – Resources – Unissu https://www.unissu.com/proptech-resources/what-is-an-ibuyer-service
- Some great news – Nick Webb, in The Sunday Times, reports that investors Fergus McLoughlin has invested in Irish proptech startup Snapfix (Paul McCarthy), which facilitates instant, photo reporting of maintenance issues for commercial and hospitality landlords.
- Halfway through 2019, proptech investment has already hit a record high https://therealdeal.com/national/2019/07/02/halfway-through-2019-proptech-investment-has-already-hit-a-record-high/
- The frustration behind proptech investment https://www.egi.co.uk/news/the-truth-behind-proptech-investment/
- Distributed teams are helping startups scale faster https://venturebeat.com/2019/07/06/distributed-teams-are-helping-startups-scale-faster/amp/
- Building a Startup That Will Last https://hbr.org/2019/07/building-a-startup-that-will-last
- Offsite housing? There’s an app for that https://www.building.co.uk/communities/offsite-housing-theres-an-app-for-that/5100482.article
- Shaping the future of construction with digital technology https://www.pbctoday.co.uk/news/bim-news/construction-digital-technology/59604/
- #Proptech Firms Expanding The Ways Developers Monitor People https://therealdeal.com/national/2019/07/08/china-goes-all-in-on-proptech-investment/amp/
- Revealed: Professionals reveal how they are benefiting from building information modelling – Building Products https://buildingproducts.co.uk/revealed-professionals-reveal-benefiting-building-information-modelling/ #BIM
- British 22-year-old’s ‘robot lawyer’ app raises $4.6m from Facebook backers https://www-telegraph-co-uk.cdn.ampproject.org/c/s/www.telegraph.co.uk/technology/2019/07/04/british-22-year-olds-robot-lawyer-app-raises-46m-facebook-backers/amp/
- The Property Tech Revolution Is Coming to Real Estate Investing | Fortune https://fortune.com/2019/07/10/real-estate-investing-technology-proptech/
- PropTech v Traditional: Auction houses fight for market share:
- Tenant Engagement’s Role in the Mixed-Use Real Estate Revolution | Propmodo https://www.propmodo.com/tenant-engagements-role-in-the-mixed-use-real-estate-revolution/
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/