IRISH PROPERTY MARKET NEWS AND INSIGHTS – FOR THE INDUSTRY, BY THE INDUSTRY  

Before we get stuck into the general property news of the week, below are the local and international stories that might be of particular interest:

• Government to set up Commission on Housing to deal with housing issues in Ireland over the coming decades  https://www.thejournal.ie/commission-on-housing-darragh-obrien-5449131-May2021/ Also, The Minister for Housing, Local Government and Heritage, Darragh O’Brien TD, has today (Friday 28 May 2021) appointed Mr. John O’Connor as Chair designate of the Commission on Housing which will be established later this year  https://www.gov.ie/en/press-release/7f81d-minister-obrien-appoints-chair-of-the-commission-on-housing/#

 

• Big Read: Tall storeys – should we be aiming higher with our buildings? When Liberty Hall was constructed in the 1960s, it seemed that building up was the future. Then the high-rise vision faltered, with Johnny Ronan the latest developer to have his plans frustrated. John Meagher asks if we are too scared of heights https://m.independent.ie/news/big-read-tall-storeys-should-we-be-aiming-higher-with-our-buildings-40480476.html

 

• Minister for Housing Darragh O’Brien has rejected several Opposition proposals to change the way the Land Development Agency (LDA) works, saying they would “neuter” its ability to tackle the housing crisis. https://www.irishtimes.com/news/ireland/irish-news/proposals-to-alter-how-land-agency-will-work-rejected-by-minister-1.4574919?mode=amp

 

• Home truths: Darragh O’Brien on scaling up, battling local authorities and what institutional investors can’t do – We are not yet through Covid, and the housing crisis is already back on centre stage. In this extensive interview, Minister for Housing, Local Government and Heritage Darragh O’Brien talks about how he intends to turn things around: https://thecurrency.news/articles/48312/darragh-obrien-on-scaling-up-battling-local-authorities-and-what-institutional-investors-cant-do/

 

• “Totally frustrated”: Why fast-track planning schemes have turned into an “oxymoron”: SDZs were designated to deliver tens of thousands of homes, and have largely failed. Now fast-track SDHs, are also under threat from the increasing use of the courts by objectors, warns urban planner Tom Phillips.https://thecurrency.news/articles/48669/totally-frustrated-why-fast-track-planning-schemes-have-turned-into-an-oxymoron/

 

• Housing crisis analysis: Gabija Gataveckaite: ‘Why are opposition parties on our councils voting against housing-related development plans?’ https://m.independent.ie/irish-news/politics/why-are-opposition-parties-on-our-councils-voting-against-housing-related-development-plans-40477805.html

 

• Michael Clifford: Government limping on as if housing is not an emergency: Emergency powers have been extended to tackle the Covid-19 pandemic but the government remains unwilling to bring in powers which could lead to real change in the housing emergency. https://www.irishexaminer.com/opinion/columnists/arid-40300826.html

 

• Property industry group lobbied minister on co-living: Property Industry Ireland told Darragh O’Brien last December that ‘sudden changes’ to housing policy could deter foreign investors https://www.businesspost.ie/houses/property-industry-group-lobbied-minister-on-co-living-28e8480a

 

• O’Brien to delay ‘use it or lose it’ rule for planning: Department of Housing fears that cancelling planning permission could lead to delays in construction, as a new application could take up to a year to be granted https://www.businesspost.ie/houses/obrien-to-delay-use-it-or-lose-it-rule-for-planning-a1389cfc

 

• O’Dea quits as chairman of property fund and sells shares in firm: The long-serving Limerick Fianna Fáil TD says he will also sell his shares in Formation Group, following revelation of its links to bulk-buying of houses https://www.businesspost.ie/houses/odea-quits-as-chairman-of-property-fund-and-sells-shares-in-firm-5a848279

 

• €179m from Government ‘cash for visas’ scheme distributed to investment funds https://www.irishexaminer.com/news/arid-40296437.html?type=amp

 

• Our broken planning system holds development to ransom  https://m.independent.ie/opinion/comment/our-broken-planning-system-holds-development-to-ransom-40457381.html

 

• Dublin Port plans bridge to Poolbeg https://www.thetimes.co.uk/article/dublin-port-plans-bridge-to-poolbeg-fpnrh7djq

 

• *INSTITUTIONAL Funds Target Farms After Being Deterred By New Housing Bulk-Buy Limits   [*incorrect terminology removed] https://extra.ie/2021/05/24/news/irish-news/cuckoo-funds-farms/amp

 

• Fergus Finlay: The biggest housing scandal? The government knows how to fix it https://www.irishexaminer.com/opinion/columnists/arid-40297085.html?type=amp

 

• Institutional investors help renters by increasing supply without increasing demand. Pushing them out hurts renters – If Ireland’s most important objective in housing is to improve the availability and affordability of homes, the political discourse and policy changes of the past three weeks show that these aims are poised to be damaged further. https://thecurrency.news/articles/48224/institutional-investors-help-renters-by-increasing-supply-without-increasing-demand-pushing-them-hurts-renters/

 

• Fears of investment firms bulk buying homes ‘totally spurious’, says O’Brien: Comments come after councillors approve deal with developer for 1,200 homes in Donabate https://www.irishtimes.com/news/politics/fears-of-investment-firms-bulk-buying-homes-totally-spurious-says-o-brien-1.4576086?mode=amp

 

• Problems at Dolphin Trust were revealed in 2019, recording shows: Recording of meeting shows difficulties were evident long before Irish investors realised the gravity of the situation https://www.businesspost.ie/financial-services/problems-at-dolphin-trust-were-revealed-in-2019-recording-shows-5f34fb19

 

• Dublin conservation project wins top European award https://amp.rte.ie/amp/1223769/

 

• Event marks anniversary of Custom House Burning https://amp.rte.ie/amp/1223710/

 

• Stuart Neilson: ‘At Singer’s Corner in Cork, people are walking across a rectangular city design’: The Cork-based academic has brought his Asperger’s view of the world into his pieces on display at the Venice Architectural Biennale https://www.irishexaminer.com/lifestyle/artsandculture/arid-40297262.html

 

• Banks and property stocks drive Iseq higher https://www.irishtimes.com/business/markets/banks-and-property-stocks-drive-iseq-higher-1.4577288?mode=amp

  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  carol@propertydistrict.ie.   (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!)