It has been a busy week on the housing front, more than that, it has been an exceptionally interesting one. Below are some of the biggest industry stories of the week, including some exciting technology innovations and announcements. If you missed last week’s Sunday Property Round-Up, as always, you can catch up here: https://propertydistrict.ie/sunday-property-round-up-july-1st-2018/
Also, you might let me know if I have missed out on any relevant property news by emailing firstname.lastname@example.org.
*Before I start this week’s Property Round-Up, I want to share this impressive story from An Post:
An Post makes history by delivering parcel via drone: https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/irish-news/an-post-makes-history-by-delivering-parcel-via-drone-37088535.html
(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!)
The following Guardian article makes for uncomfortable reading, however, it would be foolhardy to pretend that the sector isn’t facing huge change…
7,000 estate agents at risk of going to the wall, says study – High street operators face ‘triple whammy’ of internet competition, falling prices and fee cuts:
The Agile Agent – getting Ireland’s property marketplace digital by default
It’s been almost two years in preparation so I am genuinely delighted to announce that ‘The Agile Agent’ 12-month digital transformation programme for Irish estate agents will kick off in September. 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. The ‘buddy system’ is something that we have been trialling amongst a few existing clients in an informal way and when it works, that is to say, when trust is formed and real sharing starts to happen, it is great for both agencies. By the way, this is something that I encourage all agents (and all businesses for that matter!) to try out, it can be a great resource, like an experienced but objective sounding board for your business.
For further details or to attend an information session please contact email@example.com
Thank you for the emails that we have received so far this week, everyone will be responded to over the next week.
Trending Property Story – Another exciting development for the Irish property industry!
- New housing data map could ‘revolutionise’ public understanding #proptech
- Dublin’s true social divide is revealed by housing map – New interactive resource shows the city’s social and economic divisions in stark detail: The Dublin Housing Observatory (DHO) “mapping viewer” illustrates starkly the capital’s east-west social and economic divide: https://www.irishtimes.com/news/social-affairs/dublin-s-true-social-divide-is-revealed-by-housing-map-1.3556676
- There’s More Wealth Along Dublin’s East Coast: https://www.98fm.com/Theres-More-Wealth-Along-Dublins-East-Coast
Other Property News
- Tenant-purchase scheme ‘must end to meet social housing demands’ – Report says scheme has significantly reduced number of council houses available for rent: https://www.irishtimes.com/news/social-affairs/tenant-purchase-scheme-must-end-to-meet-social-housing-demands-1.3553443
- Fast-track housing delivery ‘seriously wrong’, council chief says – Concern within Dublin City Council over two-year delay in housing projects: https://www.irishtimes.com/news/politics/fast-track-housing-delivery-seriously-wrong-council-chief-says-1.3552722
- Investment fund raided for housing: https://www.thetimes.co.uk/edition/ireland/investment-fund-raided-for-housing-brc22zqn2
- €28 million was paid in rent to landlords last month under the Housing Assistance Payment – Hap and Homeless Hap are a form of rental benefit payment to assist lower income households: http://www.thejournal.ie/housing-hap-4112275-Jul2018/
- Would you live in a house without a kitchen? You might be, very soon https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/life-and-style/food-and-drink/would-you-live-in-a-house-without-a-kitchen-you-might-be-very-soon-1.3553616?mode=amp
- Marlet sells Hollywoodrath site for over €15m to Archtree Developments – Marlet and its backers paid a mere €3.275m for site at the bottom of the market: https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/life-and-style/homes-and-property/marlet-sells-hollywoodrath-site-for-over-15m-to-archtree-developments-1.3553487?mode=amp
- Dublin crane count rises to 79 in July – July total is one off record set last December: https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/dublin-crane-count-rises-to-79-in-july-1.3550905?mode=amp
- House buyers sleep overnight for Limerick homes as €2m worth sell in half an hour: https://www.limerickleader.ie/news/home/322165/house-buyers-sleep-overnight-for-limerick-homes-as-2m-worth-sell-in-half-an-hour.html
- The CIF Top 50 Contractors were officially announced this week at an event held in the Iveagh Garden Hotel in Dublin. Congratulations to the #Top50 companies whose turnover rose to €6.72 billion over the last 12 months: https://cif.ie/cif-top-50-contractors/
- 2018 Initiative Ireland CEO Behind New €150 million Residential Property Finance Fund with Davy: http://www.constructionnetworkireland.com/initiative-ireland-ceo-behind-new-e150-million-residential-property-finance-fund-davy/
- ‘Completely misjudged’ or necessary investment? Private companies offer mortgage-to-rent scheme: http://www.thejournal.ie/private-mortgage-to-rent-4107662-Jul2018/
- ‘Forever renters’ have given up on dreams of buying a home: https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/personal-finance/property-mortgages/forever-renters-have-given-up-on-dreams-of-buying-a-home-37075372.html
- Green Reit leases 5 Harcourt Road to WeWork: https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/green-reit-leases-5-harcourt-road-to-wework-1.3552193?mode=amp
- Davy fund to lease Tallaght facility to ITT – Institute of Technology agrees to 20-year lease at €400,000 for 30,000sq ft building: https://www.irishtimes.com/business/commercial-property/davy-fund-to-lease-tallaght-facility-to-itt-1.3552652
- Marquee site in the Cork Docklands sells for €15m with potential for 1,000 new homes : https://www.eveningecho.ie/corknews/Marquee-site-in-the-Cork-Docklands-sells-for-15m-with-potential-for-1000-new-homes-6a02bce5-2cf0-4c9c-b494-13fcf5d1330a-ds
- Green light for €3m plan in heart of Limerick with development to deliver 100 jobs https://www.limerickleader.ie/news/home/321075/green-light-for-3m-plan-in-heart-of-limerick-with-development-to-deliver-100-jobs.html#.WzYsV7qZdbE.facebook
- With the PRS (private rented sector) or BTR (build-to-rent) sector in Ireland heating up, I wanted to share an Australian perspective: ‘Build-to-rent still elusive: Australia’s tax landscape makes it so‘: https://www.afr.com/real-estate/buildtorent-still-elusive-australias-tax-landscape-makes-it-so-20180702-h125xt
- Former CIÉ transport ship to be turned into €6.6m luxury hotel: https://www.irishtimes.com/business/transport-and-tourism/former-ci%C3%A9-transport-ship-to-be-turned-into-6-6m-luxury-hotel-1.3555417?mode=amp
- Dearbhail McDonald, writing in the Sunday Independent confirms that Michael Fingleton’s luxury hotel in Montenegro has now been sold for €10 million.
- Gene Kerrigan gives his unique take on the housing crisis in the Sunday Independent today writing “ politicians and academics tell us the housing crisis arises from a shortage of supply. There is no housing shortage whatever I’m on the wealthy.“ he goes on to say that “wealthy people are sitting on planning permission for 25,000 houses in Dublin, waiting for prices and conditions to be improved before they will build“.
- In The Sunday Times today Brian Carey reports that Zamano “Is to come under pressure to provide an update on plans to complete the reverse takeover of housebuilder“. The housebuilder in question is Seamus Ross and it is understood that Zamano had pledged to raise new capital through an underwritten issue of new shares to a new investor. Watch this space…
- Also, housing not-for-profit Forecastle Residential Homes is aiming to raise €1billion to develop affordable rental homes in Ireland – the group is calling on the State to “Dig deep for affordable homes“.
- Tom Lyons has an article on page 3 of The Sunday Business Post today reporting on Michael Smurfit‘s “sadness“ at the prospect of selling the K Club.
- Ian Guider, also in the SBP, writes that Hibernian Reit managers’ payments fell in 2017.
- The SBP reports that “trophy homes sales well up on this time last year: Top-and buyers are nearly all Irish returning for abroad to wear is like grew up in“. Sales in the €1 million+ category were up about 50 in the first half of 2018 compared to the first half of 2017.
Proptech and Construction Innovation
- 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 .
- 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: http://prop-tech.ie/proptech-innovators-ireland/
- It’s time for major housebuilders to embrace proptech too: http://www.propertyreporter.co.uk/features/its-time-for-major-housebuilders-to-embrace-proptech-too.html
- HOUSE THIS FOR A FIX?Meet the Louth brothers who believe they have found the answer to the Irish housing crisis – printing off 3D homes. Conor and Fintan McCormack, from Ardee came up with the idea for their revolutionary paper-printing 3D machine while they were both working in engineering in 2003: https://www.thesun.ie/news/2810065/3d-printing-irish-housing-crisis/
- Why Venture Capitalists Are Investing Billions Into Real Estate Technology #proptech : https://www-forbes-com.cdn.ampproject.org/c/s/www.forbes.com/sites/forbesrealestatecouncil/2018/06/27/why-venture-capitalists-are-investing-billions-into-real-estate-technology/amp/
- Excellent, relatable explanation of #blockchain in real estate by the multi-talented Dan Hughes: http://www.proptechfinder.com/blog/everything-you-need-to-know-about-blockchain-if-you-work-in-real-estate-37
- SimpliSafe home security locks down a $1 billion investment https://www-cnet-com.cdn.ampproject.org/c/s/www.cnet.com/google-amp/news/simplisafe-home-security-locks-down-a-1-billion-investment/
- The key talking points from Mipim Proptech Europe 2018: https://www.propertyweek.com/news-analysis/the-key-talking-points-from-mipim-proptech-europe-2018/5097366.article
- In a feature on online estate agency Moovingo, the SBP finally concedes that “perhaps one of the last bastions of traditional selling methods, the property industry is now undergoing a wave of modernisation and digitisation as the latest wave of technology is used to revolutionise real estate sales“ – welcome to the #proptech party!
*A little something extra:
Some personal development for the weekend – Napoleon Hill’s 17 Principles of Personal Achievement via SUCCESS Magazine: http://www.success.com/article/napoleon-hills-17-principles-of-personal-achievement
Property Insiders Guide
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.
GDPR for Irish Real Estate Businesses
Comprehensive Guide to GDPR Compliance for Irish Real Estate Businesses