Unsurprisingly, the broadsheets today are dominated by the presidential race (which thankfully, comes to its rather inevitable conclusion this week) and Brexit – on this, Brendan O’Connor’s ‘Idiots Guide to Brexit’ in the Sunday Independent is quite funny as it is, in his own words, written not for idiots, but by an idiot. This is not a dig at the writer, he simply points out that the majority of us are ‘idiots’ when it comes to understanding Brexit. I couldn’t disagree with that.
Before we get stuck into the industry news below, here are a few special bits I don’t want you to miss:
- Who’s ready to crowdfund a bus-home conversion?!
Ever wanted to own your very own Dublin Bus? Now’s your chance… | JOE.ie https://www.joe.ie/amp/life-style/dublin-bus-purchase-644912
- This is not from a social gossip perspective but for a sense on where value is being generated within the industry today:
What do Ireland’s biggest builders and landlords earn? https://www.irishtimes.com/life-and-style/homes-and-property/what-do-ireland-s-biggest-builders-and-landlords-earn-1.3665531?mode=amp
- I have been researching the origins of offsite construction or offsite manufacturing for housing, thinking it started as a WW1 response but apparently not… (Thank you Brendan Wallace of Fifth Wall for digging this out!)
How Sears Kit Homes changed housing: https://www.curbed.com/2018/10/16/17984616/sears-catalog-home-kit-mail-order-prefab-housing
- ‘Local Hero’: A new documentary revisits a Kildare farmer’s battle with the state #IDA #IPO http://www.thejournal.ie/local-hero-a-new-documentary-revisits-a-kildare-farmers-battle-with-the-state-4291711-Oct2018/#comments
- You might be forgiven for thinking that this is a tenuous link to property or proptech but it gives a good insight into how the banking industry is starting to use data – this will have a major impact when it comes to predicting when people are ready to buy their first home, trade up or perhaps invest i.e. the banks’ algorithms will know the would-be buyer is ready before the person knows it him or herself. Seriously, re-read that last bit until the massive scale of opportunity sinks in:
Bank of Ireland prepares for the Netflix-style future of banking https://www.siliconrepublic.com/enterprise/bank-of-ireland-data-science
If you missed last week’s Sunday Property Round-Up, which was packed with industry and proptech news, you can catch up here: https://propertydistrict.ie/sunday-property-round-up-october-14th-2018/
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!)
Sears Home Kits
The 10 top emerging trends that will shape real estate in 2019 – Curbed
The Agile Agent
Getting Ireland’s property marketplace digital by default
As most of you will be aware, our ‘ Agile Agent’ 12-month digital transformation programme for estate agents and auctioneers across Ireland kicked off nationwide last month. As we are only taking one estate agency from each geographical area (to avoid any competitive conflict), we will be sharing free monthly ‘Proptech Prompts’ for non-participating agents so that they can start their own in-house digital transformation (sign up below).
Calling all proptech innovators, startups and businesses:
Most importantly, we are hosting an invite-only proptech showcase of innovations and new technologies for participating estate agents in Citywest this October (limited access in the afternoon for non-participating agents). Email me or any of the Property District team for further details.
To get involved and for free monthly Proptech Prompts, please
Other Property News
- Properties by the Beechwood Luas stop are, on average the most expensive on the Green Line. View our new interactive Luas House Price Map and Neighbourhood Guides.https://bit.ly/2Oj4hRn
- First-time buyers pay out €157 more every month than eurozone averagehttps://amp.independent.ie/business/personal-finance/property-mortgages/firsttime-buyers-pay-out-157-more-every-month-than-eurozone-average-37424470.html
- Consumers ‘bamboozled’ by financial products – ESRI https://www.irishtimes.com/news/ireland/irish-news/consumers-bamboozled-by-financial-products-esri-1.3664487?mode=amp
- Families to save as mortgage market shake-up challenges existing lendershttps://amp.independent.ie/business/personal-finance/property-mortgages/families-to-save-as-mortgage-market-shakeup-challenges-existing-lenders-37436472.html
- Dilosk to buy Leeds Building Society’s €182m Irish mortgages https://www.irishtimes.com/business/financial-services/dilosk-to-buy-leeds-building-society-s-182m-irish-mortgages-1.3669534?mode=amp
- Finance Ireland to enter mortgage market with Pepper purchase https://www.irishtimes.com/business/financial-services/finance-ireland-to-enter-mortgage-market-with-pepper-purchase-1.3667827?mode=amp
- Finance Ireland expected to float after mortgage move https://m.independent.ie/business/personal-finance/latest-news/finance-ireland-expected-to-float-after-mortgage-move-37436268.html
- House sales to UK buyers climb as ‘Brexit refugees’ outbid Irish-based homebuyers – Independent.ie https://www.independent.ie/business/brexit/house-sales-to-uk-buyers-climb-as-brexit-refugees-outbid-irishbased-homebuyers-37419711.html
- Ireland — And Dublin — Best Bets For Rented Residential Investors in Europehttps://www.bisnow.com/dublin/news/capital-markets/ireland-and-dublin-best-bets-for-buy-to-let-investors-in-europe-93885?be=Ashley.Perry%40liv-group.co.uk&utm_source=Newsletter&utm_medium=email&utm_campaign=mon-15-oct-2018-000000-0400_dublin-re
- Vast majority of apartments need bigger sinking funds https://www.irishtimes.com/business/commercial-property/vast-majority-of-apartments-need-bigger-sinking-funds-1.3665606?mode=amp
- Deutsche seals deal for €300m Project Lee portfolio from Nama https://www.irishtimes.com/business/commercial-property/deutsche-seals-deal-for-300m-project-lee-portfolio-from-nama-1.3665857?mode=amp
- Finance Bill may bring in PRS stamp duty hike https://amp.independent.ie/business/commercial-property/finance-bill-may-bring-in-prs-stamp-duty-hike-37431258.html
- Entire 372-unit apartment scheme in Clongriffin sells for rental https://www.irishtimes.com/life-and-style/homes-and-property/entire-372-unit-apartment-scheme-in-clongriffin-sells-for-rental-1.3666471?mode=amp
- Potential conflict between cyclists and pedestrians cited as College Green plaza plans rejected http://www.thejournal.ie/dublin-college-green-4290815-Oct2018/?utm_source=twitter_short
- Dublin City Council plotting €200 million funding for ‘below market rent’ apartment blockshttp://www.thejournal.ie/ballymun-construction-apartments-4294855-Oct2018/?amp=1
- Limerick engineering firm make excellence award shortlist for work on Adare Manorhttps://www.limerickleader.ie/news/home/342023/limerick-engineering-firm-make-excellence-award-shortlist-for-work-on-adare-manor.html
- The right moves: Booming hotel sector demands best in design https://amp.independent.ie/business/commercial-property/the-right-moves-booming-hotel-sector-demands-best-in-design-37431247.html
- Niamh Horan, writing in the Sunday Independent today reports that Johnny Ronan has apparently vowed to appeal against the latest planning rejection of his envisaged Tara Tower in Dublin 2.
- Philip Ryan, also in the Independent today, reports that the issue of high interest rates being charged by Irish mortgage lenders will be a “key demand“ from FF during confidence and supply negotiations with FG. It is purported that Irish homeowners pay on average €2,500 per year in interest more than homeowners across the EU.
- In The Sunday Times today, Nick Webb writes in his Inside Track column that Marlay Nursing Home in Rathfarnham has been sold for €20 million+. Developer Oisin O’Buachalla owned a 60% stake and East Coast Bakehouse’s Michael Carey was listed among the remaining shareholders.
- In The Sunday Business Post today, FlexiGroup Ireland is apparently planning to finance Irish people who wish to live in log cabins. It remains to be seen what the planning authority will make of people proposing to live in these log cabins. Also, at a time when offsite construction and offsite manufacturing for construction is reaching new heights in the UK and Ireland, it is important not to confuse log cabins with modular-built homes.
- Also in the SBP, one of Ireland’s most respected property developers Michael O’Flynn has criticised the new Land Development Agency (LDA), saying that the agency is trying to “eliminate the role of the developer”. To this I assume that he is referring to the role of a private developer as opposed to AHBs.
- James MacCarthy-Morrogh of Coyne Research interprets the agency’s latest survey, which revealed that a higher number of people than previously estimated have been affected by the current housing crisis and 75% of all people surveyed believe that those in power are doing a “poor job“ at tackling the issues. One of the key takeaway points is that “people want the government to pay for housing, but don’t want to pay [for it] themselves“…
- In the property section of the SBP today, director at Cluid Housing Fiona Cormican has an interesting opinion piece asking why it takes so long to build social housing? She writes that a project can take an average of three years from start to finish, however, in theory this could be shortened by taking a more co-operative approach amongst all stakeholders. While this makes perfect sense, it requires a “cultural change“, which is never easy.
- Canals, boardwalks and houseboats: huge possibilities for new Tivolihttps://www.eveningecho.ie/corknews/Canals-boardwalks-and-houseboats-huge-possibilities-for-new-Tivoli-e6801431-3fac-4e2f-898b-5275ec5989a8-ds
- Major housing scheme in Cobh is shot down https://www.eveningecho.ie/corknews/Major-housing-scheme-in-Cobh-is-shot-down-0ac50557-6dc7-4a67-81e5-ce276b095dfa-ds
- American millionaire places bid on K Club in Kildare https://www.irishmirror.ie/lifestyle/homes-and-property/american-millionaire-virgin-media-owner-13444293.amp
- Here’s where to find the latest jobs in construction & engineering | JOE.ie #jobfairyhttps://www.joe.ie/amp/life-style/heres-where-to-find-the-latest-jobs-in-construction-engineering-643953
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: http://prop-tech.ie/proptech-innovators-ireland/ 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 .
- Property editor of The Sunday Times today, Linda Daly, writes about Ireland’s proptech industry, referring back to an original piece published in April of last year where we brought together some of the startups within this emerging sector (http://prop-tech.ie/sunday-times-introducing-proptech-new-game-changer/). It really has been a frustrating few years since the 2016 launch of Proptech Ireland. We launched in response to global trends and consumer demand, and then waited (and waited and waited…) for the industry to catch up, but catching up they are and this is great for consumers, the industry, the State and society as a whole. By the way, it is worth pointing out that it is significant to see print newspapers talking about proptech as it is a topic they have, in recent years, shown themselves to be quite terrified of. Also, many of their largest industry advertisers have been shying away from the topic. I know this to be true having written and published countless proptech articles over the past few years – the boundaries that editors were willing to push were very clearly defined. Thankfully, these are now broadening!
- South Dublin County Council is launching a new website tomorrow to give homebuyers more information about the local area, including information on childcare, education, health, recreation, retail and sporting facilities. It is seen as a tool for decision-making when people are looking to settle in an area. The new website ieis a great example of local authorities are trying to engage with the community so well done to the local authority there.
- Airbnb usage-tracking app aims to tackle housing crisis https://www.rte.ie/news/business/2018/1019/1005232-airbnb-usage-tracking-app-aims-to-tackle-housing-crisis/
- Lack of innovation makes real estate ripe for #proptech
- “Professionals in the real estate sector will have to adapt to new technologies sooner or later, and those who adapt sooner will benefit the most,” #proptech
- Proptech’s Focus on Top-Tier Markets Has Left the Door Open for Regional Competitors | Propmodo https://propmodo.com/proptechs-focus-on-top-tier-markets-has-left-the-door-open-for-regional-competitors/
- The Impossible Job: Security for Long-Tail Smart Home Devices https://medium.com/@cian_6116/the-impossible-job-security-for-long-tail-smart-home-devices-d87d21e3541
- Convene uses landlord partnership model to outclass WeWork https://techcrunch.com/2018/10/19/convene-uses-landlord-partnership-model-to-outclass-wework/amp/
- Gleeds launches construction app https://www.building.co.uk/news/gleeds-launches-construction-app-/5096089.article
- Getting the Green Light for Your In-House Drone Program #proptech #contechhttps://blog.dronedeploy.com/getting-the-green-light-for-your-in-house-drone-program-c2f18dfe60ea
- 7 Things You Should Consider Before Investing In A Proptech Startup https://www.forbes.com/sites/angelicakrystledonati/2018/10/18/7-things-you-should-consider-before-investing-in-a-proptech-startup/#1c18d8c57f32
- The Siri Of The Real Estate Industry: “by 2020, more than half of all searches will be voice-based” #proptech #contech #CREtech
- com http://realestatemogul.com/learn/rei-tech/the-siri-of-the-real-estate-industry?cid=13&a_aid=promote&subid1=mogul_elite&subid2=
- The Drum’s Diane Young in conversation with Gary Vaynerchuk on AI, brands and consumer https://www.thedrum.com/news/2018/10/17/the-drum-s-diane-young-conversation-with-gary-vaynerchuk-ai-brands-and-consumer
- Real Estate In 2030 Will Be Radically Different. Here Are The Skills You’ll Need To Survivehttps://www.bisnow.com/london/news/technology/real-estate-in-2030-will-be-totally-different-here-are-the-skills-youll-need-to-survive-94014
- Gavin Gallagher, founder of Proptech.TV compiled a global list of the top 10 Proptech influencers to follow – I was genuinely delighted to be included amongst some serious UK and US heavy-hitters: WATCH HERE: https://youtu.be/Xwuccn7wrkE
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/