The Housing Agency and Institute of Public Administration annual two-day Housing Practitioners Conference took place in Kilkenny earlier this week. I was delighted to take on the role of MC and endeavored to take notes etc, however, the sessions were so intensive and insight-ladden that it will take me a few more days to summarise the key insights from a stellar line-up of speakers that included the Housing Minister, senior Housing Department officials, the new Planning Regulator, heads of AHBs and of various local authorities, together with private sector contributions from Sherry Fitzgerald and the CIF. If you want an immediate overview, check out the hashtag #HousingPractitioners2019 across social media platforms (particularly Twitter).
If you missed last week’s round-up, 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:
- 10 ways cities are tackling the global affordable housing crisis https://www.weforum.org/discom?bobulate=fsoL80ct0YigL5fmpIIDpVEJZ%2F%2FPj78AapyU9S2WkWcIYjqUcfrGMH%2F8ZQgU%0AWf%2B4w6DVoDDfSNkzAdseIvYpeg%3D%3D%0A&utm_campaign=5bf67dc6d76cc00001001364&utm_content=5d0a97fa2cc604000175ce94&utm_medium=smarpshare&utm_source=linkedin
- Dutch plan for housing crisis https://amp.irishexaminer.com/breakingnews/business/dutch-plan-for-housing-crisis-935064.html
- 19 new Rent Pressure Zones across 11 counties comes into effect | Buyers Broker International https://buyersbrokerinternational.com/2019/07/19-new-rent-pressure-zones-across-11-counties-comes-into-effect/
- Construction sector output ‘falls at steepest rate since 2009’ https://news.sky.com/story/amp/construction-output-falls-at-steepest-rate-since-2009-11754992
- World’s Tallest Modular Buildings Completed https://www.archdaily.com/920329/worlds-tallest-modular-buildings-completed
- Queensland to ban all combustible cladding https://www.theconstructionindex.co.uk/news/view/queensland-to-ban-all-combustible-cladding
- Solus completes first retail drone delivery of bulbs https://www.rte.ie/amp/1059908/
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!)
#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.
#PropertyMatters hosts Bryan Fox & Carol Tallon are joined in studio by Emma Hayes of Property District to discuss projects open for public consultation through PLACEengage.com; Trevor Kelly, public loss assessor and property claims expert at Insurance Claim Solutions highlights the need to evaluate and vary your property valuation at insurance renewal stage; Des McCabe of the Apartment Owners Network talks about the proposed reform of OMCs in Ireland.
Email the Property Matters team at hello@iPropertyRadio.com
Public Consultation and Community Engagement
- First application for development of Ringsend glass bottle site https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/news/social-affairs/first-application-for-development-of-ringsend-glass-bottle-site-1.3946969?mode=amp
- Two Wicklow towns in the running to be crowned Ireland’s most enterprising town http://wicklownews.net/2019/07/two-wicklow-towns-in-the-running-to-be-crowned-irelands-most-enterprising-town/
- Mortgage approvals up 10% as nearly 5,000 given green light in May https://www.irishtimes.com/business/economy/mortgage-approvals-up-10-as-nearly-5-000-given-green-light-in-may-1.3946800?mode=amp
- Much-opposed Housing development at Bulloch Harbour in Dalkey gets go-ahead https://www.irishtimes.com/news/environment/housing-development-at-bulloch-harbour-in-dalkey-gets-go-ahead-1.3944131?mode=amp&__twitter_impression=true In the Sunday Independent today, Samantha McCaughren reports that ‘Over 250 objections lodged against Bulloch Harbour’
- Horgan’s Quay in Cork is mixing historic roots with new beginnings
- Should Dublin get a high-rise skyline? Maybe, but not to solve the housing crisis https://www.thejournal.ie/dublin-high-rise-housing-4707824-Jul2019/
- How Silicon Docks is killing Dublin [I don’t agree with most of this but there are many interesting and important points] https://www.irishtimes.com/business/technology/how-silicon-docks-is-killing-dublin-1.3945722?mode=amp
- Dublin Docklands: is the area a victim of too much success? https://www.irishtimes.com/news/social-affairs/dublin-docklands-is-the-area-a-victim-of-too-much-success-1.3946946?mode=amp
- The PostPlus section of The Sunday Business Post today leads with an interesting feature on ‘Galway’s Traffic Blues: Galway’s much-vaunted ring road was touted as a magic bullet to solve the city’s congestion woes. But after years of development and an outlay of €30 million, it’s still a long way from coming to fruition’.
*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
- There are several relevant opinion pieces in the Sunday Independent today: On page 18, Marc Coleman writes about ‘Why relaxing the 10pc deposit rule would be a good thing for families’ as “for first-time buyers, even Mayo, Galway and Roscommon are now out of bounds”.
- Also, Paul Cunningham suggests that ‘There are ways out there to fix bad mortgages: The mortgage to rent scheme has been revitalised and can help people stay in their own homes’; while Elis O’Hanlon asks ‘Is this the end of the middle class? Being unable to buy your own home is a personal disappointment, but also a political time bomb’.
- The lead business story in the Independent today reads ‘Developers curtail home building as prices start to fall: Planning permissions and land sales are slowing down…’ This tallies with what we (Property District) and our industry clients have been saying since December 2018/January 2019, having noticed a ‘stretching’ of credit days needed since September 2018. In fact, one local builder from County Cork expressed a view to me last March that the industry was already in recession, “we just don’t know it yet..”.
- Lousie McBride reports on the ‘Huge rise in credit unions entering mortgage market: More than 110 credit unions now provide home loans, with debit cards the next step...’
- Also in the business section of the Sunday Independent today, Samantha McCaughren writes that ‘Our fast-track planning system is working at cross purposes’. Since the introduction of this new system in 2017, it has attracted plenty of criticism, both from inside and outside the industry (it’s public consultation process is tokenistic at best); however, despite the power struggles between the local authorities and An Bord Pleanala, and indeed between the Bord and local communities, the system was needed and did – in the main – do what it was intended to do.
- In the business section of The Sunday Times today, Gavin Daly reports that Greybirch (Kelly family) has lodged planning for an eight-storey hotel on the south quays, opposite Liberty Hall: the O’Callaghan Collection hotel group has received approval to build a five-storey office block next to the Davenport hotel in Dublin 2; and Kelland HOmes and Durkan Estates have lodged plans for more than 600 homes in Saggart.
- Michael Brennan, in The Sunday Business Post. reports that ‘Varadkar signals an extension to the first-time buyers’ grant’. [FINALLY – although I really must clarify that this is not a “grant’, it is a tax rebate only – this is quite an important distinction]
- The property section of the SBP has a great feature on green buildings, in Ireland and internationally, and the “second wave of property sustainability” that is well worth reading today.
- Finance Ireland plans €290m mortgage securitisation to fund new lending https://www.irishtimes.com/business/financial-services/finance-ireland-plans-290m-mortgage-securitisation-to-fund-new-lending-1.3946894?mode=amp
- Valid concerns raised on docklands housing, says Dublin city chief https://www.irishtimes.com/news/social-affairs/valid-concerns-raised-on-docklands-housing-says-dublin-city-chief-1.3946946?mode=amp
- Property price growth continuing to cool nationally – Independent.ie https://amp.independent.ie/business/personal-finance/property-mortgages/property-price-growth-continuing-to-cool-nationally-38268583.html
- House prices up outside Dublin but pace slows https://amp.irishexaminer.com/breakingnews/ireland/house-prices-up-outside-dublin-but-pace-slows-933923.html
- 19 new Rent Pressure Zones across 11 counties https://www.rte.ie/amp/1059622/
- Call for 1% cap on ‘unsustainable’ rent increases for three years https://www.irishtimes.com/news/politics/oireachtas/call-for-1-cap-on-unsustainable-rent-increases-for-three-years-1.3944555?mode=amp
- Murphy – RTB now has power and means to police Rent Pressure Zones | Newstalk https://www.newstalk.com/news/murphy-rent-pressure-zones-878143
- No plans yet for Carlow to follow Kilkenny into Rent Pressure Zone https://kclr96fm.com/no-plans-yet-for-carlow-to-follow-kilkenny-into-rent-pressure-zone/
- Housing bodies warn of impact on social housing funding https://www.rte.ie/news/politics/2019/0702/1059770-housing-bodies-warn-of-impact-on-social-housing-funding/
- Majority of revenue on Airbnb comes from rentals which will be hit by new laws https://www.thejournal.ie/scraped-data-suggests-that-most-airbnb-revenue-comes-from-renting-full-homes-for-more-than-90-days-4700461-Jun2019/?amp=1
- Housing charity welcomes new regulations on short-term lets https://amp.irishexaminer.com/breakingnews/ireland/housing-charity-welcomes-new-regulations-on-short-term-lets-933962.html
- Residential Tenancies Board given new powers to address improper conduct by landlords https://amp.irishexaminer.com/breakingnews/ireland/residential-tenancies-board-given-new-powers-to-address-improper-conduct-by-landlords-934262.html
- Co-living space called The Orphanage an eye-popping insult to those living in a housing crisis | JOE.ie https://www.joe.ie/amp/news/co-living-space-called-orphanage-674331
- Understanding the Help-to-Buy Scheme – Victoria Homes http://www.victoriahomes.ie/2019/07/03/understanding-help-buy-scheme/
- Ulster Bank to sell €900m in mortgages https://www.irishtimes.com/business/financial-services/ulster-bank-to-sell-900m-in-mortgages-1.3944331?mode=amp
- Dublin City Council to CPO half-built apartment scheme in north Dublin suburb https://www.dublinlive.ie/news/dublin-news/dublin-city-council-cpo-drumcondra-16510096.amp
- Druids Glen sells for €45 million http://wicklownews.net/2019/07/druids-glen-sells-for-e45-million/
- Retails of the city – Portfolio goes on market for €11.75m – Independent.ie https://m.independent.ie/business/commercial-property/retails-of-the-city-portfolio-goes-on-market-for-11-75m-38276065.html
- UK profits up for BAM as it targets further growth https://www.theconstructionindex.co.uk/news/view/uk-profits-up-for-bam-as-it-targets-further-growth
- Slow MMC housing uptake risks 300,000 homes target | Construction Enquirer https://www.constructionenquirer.com/2019/07/03/slow-mmc-housing-uptake-risks-300000-homes-target/
- Britain’s oldest building company ‘ceases trading’ | Construction Enquirer http://www.constructionenquirer.com/2019/07/03/britains-oldest-building-company-goes-bust/
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.
Q3. March – May 2019 Agile Agent check-in now available HERE:
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: PROPTECH INNOVATORS and STARTUPS
- AI in Construction Can Improve Insights and Save Lives [Video] https://www.autodesk.com/redshift/ai-in-construction/?utm_source=LinkedIn&utm_medium=brandsocial&utm_campaign=RSBrandOG&utm_content=ai-in-construction&linkId=69736804
- PlaceTech | How Dublin’s tech boom has changed the city https://placetech.net/analysis/how-dublins-tech-boom-has-changed-the-city/
- Beechbrook announces new €35m fund for Irish SMEs https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/financial-services/beechbrook-announces-new-35m-fund-for-irish-smes-1.3943953?mode=amp
- Proptech Innovator Suggests Incremental Improvements To Legal Technology https://www.todaysconveyancer.co.uk/main-news/proptech-innovator-suggests-incremental-improvements-legal-technology/
- Deciding between Venture Capital vs. Strategic Real Estate Capital (from someone in the middle) https://medium.com/@safiaziz/deciding-between-venture-capital-vs-strategic-real-estate-capital-from-someone-in-the-middle-c95e2406f472
- CEO warns real estate industry has reached its ‘technology intersection’ | eliteagent.com https://eliteagent.com/ceo-warns-real-estate-industry-has-reached-its-technology-intersection/
- ONE WAY TO BEAT THE INDUSTRY BLUES… https://www.estateagenttoday.co.uk/sponsored-content/2019/7/one-way-to-beat-the-industry-blues
- New app aims to tackle problems with on-site BIM adoption | BIM+ http://www.bimplus.co.uk/news/new-app-aims-tackle-problems-site-bim-adoption/
- Estate agent Purplebricks to exit US market https://www.bbc.com/news/live/business-48800231
- East Coast Love: PropTech Startups Pick NYC Over West Coast https://news.crunchbase.com/news/east-coast-love-proptech-startups-pick-nyc-over-west-coast/?utm_source=linkedin&utm_medium=website&utm_campaign=SocialSnap
- WeWork: the ‘hypothetical’ company at the heart of the property market https://amp.ft.com/content/0e426c90-8c45-11e9-a1c1-51bf8f989972?__twitter_impression=true
- Data is king at Mipim Proptech Europe 2019 | Online | Property Week https://www.propertyweek.com/news/data-is-king-at-mipim-proptech-europe-2019/5103392.article
- Council Post: What The Surge Of VC Interest In Real Estate Tech Means For The Industry https://www.forbes.com/sites/forbesrealestatecouncil/2019/07/05/what-the-surge-of-vc-interest-in-real-estate-tech-means-for-the-industry/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/