All of the broadsheets are particularly light on industry coverage today. Unsurprisingly, Budget 2020 and Brexit dominates. Rather than waste time on speculation of the kite-flying variety today, next week we will examine the confirmed changes and the impact of those changes for the industry, and indeed for home buyers and sellers. We know that the help-to-buy scheme is likely to be retained and further funds will be made available for social housing. Surprisingly, there is little analysis from the appearance of An Bord Pleanala before the Dail’s public accounts committee earlier this week… There is a special feature on the Shannon region in The Sunday Business Post that will be of interest to those investing locally.
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:
- “At every other proptech conference or event, the speakers share views, criticisms and recommendations for and about the real estate industry; in my experience, Proptech Riga 2019 is the first event to turn this on its head and invite proptech detractors to the main stage, asking what traditional real estate professionals think of proptech. It was divisive, it got heated in parts, but it was deeply compelling…”
- Bisnow Dublin: Rise & Shine: The Future of Dublin’s Workspace Industry https://propertydistrict.ie/bisnow-dublin/
- From Antony Slumbers: “A long read for you on a Sunday – the future of retail real estate.”
- If you want to hear more from Antony Slumbers, sign up for the following Dublin Techstars Startup Week & Proptech Ireland event: Use Cases For Artificial Intelligence in Real Estate: https://www.eventbrite.ie/e/71815687655 Tickets are free for strictly limited!
- Politicians must be more responsible on high-density housing, senior planner says https://www.irishtimes.com/business/construction/politicians-must-be-more-responsible-on-high-density-housing-senior-planner-says-1.4034398?mode=amp
- Pleanála’s appeals delayed by fast-track planning system https://www.irishtimes.com/news/ireland/irish-news/plean%C3%A1la-s-appeals-delayed-by-fast-track-planning-system-1.4039396?mode=amp
- Hospitality’s future is looking colorful https://blog.exporeal.net/en/mixed-use-properties-and-hotel-hybrids/?utm_campaign=prjctr&utm_medium=socialPost&utm_source=li&utm_term=prjctr&utm_content=180130mh1004#
- Was it worth paying €41.7bn to bail out Irish banks? https://www.irishtimes.com/business/financial-services/was-it-worth-paying-41-7bn-to-bail-out-irish-banks-1.4036792?mode=amp
- Construction inefficiency ‘holding Ireland back’ – Taoiseach tells CIF conference – Independent.ie https://m.independent.ie/business/irish/construction-inefficiency-holding-ireland-back-taoiseach-tells-cif-conference-38556200.html
- ‘You broke the construction industry’: Varadkar hits back at Martin over housing criticism https://www.irishexaminer.com/breakingnews/ireland/you-broke-the-construction-industry-varadkar-hits-back-at-martin-over-housing-criticism-954435.html
- A successful climate plan must also tackle the housing crisis https://www.theguardian.com/commentisfree/2019/oct/01/a-successful-climate-plan-must-also-tackle-the-housing-crisis
- Construction on hold as builders wait for Brexit uncertainty to clear https://www.thetimes.co.uk/article/construction-on-hold-as-builders-wait-for-brexit-uncertainty-to-clear-9scmg2kvm
- Innovations in inclusive housing – TechCrunch https://techcrunch.com/2019/05/13/a-market-map-of-the-housing-startup-space/amp/
- Modern Methods of Construction in a reordered world:
“The term “contractor” is misleading. As contractors become less likely to enter a contract to deliver a whole project and delivery becomes a genuinely collaborative exercise, the term “constructor” is perhaps more appropriate.”
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 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!)
Property Matters: 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 (www.iPropertyRadio.com). Seasoned political 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.
On Property Matters this week we revisited the issue of vacant homes in Ireland and what action local authorities are taking.
*Listen back to all #PropertyMatters episodes here: https://anchor.fm/ipropertyradio
Email the Property Matters team at hello@iPropertyRadio.com
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- ‘We’re terrified the bulldozers will move in’: Locals fight to save animal habitat in Dublin park https://www.thejournal.ie/dodder-valley-park-habitat-football-pitches-4835289-Oct2019/
- Councillors urged to approve O’Devaney Gardens plan https://www.rte.ie/news/dublin/2019/1003/1080940-odevaney-gardens-development-plan/
- Council seeks operator to create ‘tourist attraction’ at Dublin’s Fruit & Vegetable Market https://www.thejournal.ie/smithfield-market-dublin-4836772-Oct2019/
- In the property supplement of The Sunday Business Post today, Jll’s Uilliam Blythman asks ‘Can co-living be a cure for loneliness?. ’He writes that “Living with others in buildings with communal spaces could re-frame the Irish concept of community”.
*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
- Mark Tighe in The Sunday Times today reports that RTE celebrity architect Dermot Bannon is being sued – along with the project builder, engineer and Coco Television – over a Dublin house extension (this is the most recent of four High Court actions against the architect).
- In the business section of The Sunday Times today: the IDA spent €15.7m on the fit-out of its Park Place HQ; Glenveaghgets planning for 15-storey PRS tower on East Road (north docks); Urban LIfe Developments (Laurence Goodman Jr) made €4.9m profits last year; property editor Linda Daly writes that ‘Shunning property porn won’t help the homeless’.
- In The Sunday Business Post today Killian Woods quotes senior civil servant, Robert Watt, as he refers to the poor land use across Ireland and calls for the State to “tax vacant sites properly”.
- Roisin Burke reports that ‘Over half a dozen developers to bid on €125m Irish Glass Bottle site’, including Marlet (Pat Crean), Ballymore (Sean Mulryan), Michael O’Flynn, Hines, Castethorn, Starwood and Glenveagh.
- Killian Woods has an excellent feature on page 16 of The Sunday Business Post looking at some of the hurdles to speedy and viable property development, quoting on-the-groud experts Fiona Cormican of Cluid, James Benson of CIF and John Downey of Downey. Significantly, the ESRI has revised downwards its estimate of new homes expected to be completed this year from 23,500 to 21,500.
- Also in the SBP, WeWork, despite a turbulent few weeks, has agreed to lease further office space in and around the capital.
- Ideology the ‘only obstacle’ to social and affordable housing, say protesters https://www.irishtimes.com/news/social-affairs/ideology-the-only-obstacle-to-social-and-affordable-housing-say-protesters-1.4038058?mode=amp
- University of Limerick students fall victim to housing crisis https://www.limerickleader.ie/news/home/483703/university-of-limerick-students-fall-victim-to-housing-crisis.html
- I Struggled To Leave My Abusive Partner Because Of The Housing Crisis https://www.refinery29.com/en-gb/domestic-abuse-housing-crisis
- Mortgage rules – time for common sense https://www.irishtimes.com/opinion/letters/mortgage-rules-time-for-common-sense-1.4037927?mode=amp
- Five common first-time buyer challenges, and how to deal with them | JOE.ie https://www.joe.ie/life-style/first-time-buyer-challenges-682957ii
- Property groups want Help To Buy tax break expanded beyond first-time buyers https://www.irishtimes.com/business/commercial-property/property-groups-want-help-to-buy-tax-break-expanded-beyond-first-time-buyers-1.4035397?mode=amp
- RTB orders landlord to pay €13,000 to family after illegal eviction https://www.thejournal.ie/rtb-landlord-eviction-4833348-Oct2019/
- Celebrities drawn into legal action over Dublin luxury flats https://www.irishtimes.com/news/ireland/irish-news/celebrities-drawn-into-legal-action-over-dublin-luxury-flats-1.4039509?mode=amp
- Banks accused of keeping variable rates ‘artificially’ high https://www.irishtimes.com/business/financial-services/banks-accused-of-keeping-variable-rates-artificially-high-1.4035060?mode=amp
- Ireland ‘paying a price’ in bid to tackle housing crisis https://www.breakingnews.ie/ireland/ireland-paying-a-price-in-bid-to-tackle-housing-crisis-953972.html
- ‘Overlooked’: Calls for ‘housing crisis’ among disabled people to be addressed in Budget https://www.thejournal.ie/housing-crisis-among-disabled-people-4832520-Oct2019/
- Vulture funds perform a U-turn as mortgage-to-rent market opens up – Independent.ie https://m.independent.ie/business/personal-finance/property-mortgages/vulture-funds-perform-a-uturn-as-mortgagetorent-market-opens-up-38546221.html
- 25-storey apartment development for The Sextant site has been accepted for fast-track planning https://www.echolive.ie/corknews/25-storey-apartment-development-for-The-Sextant-site-has-been-accepted-for-fast-track-planning-813e17eb-e7f2-4c77-b4a2-932db6103b54-ds#.XZNWe4vR4it.linkedin
- Kildare zoning issue in Rathangan housing plan refusal https://www.kildarenow.com/news/home/483305/kildare-zoning-issue-in-rathangan-housing-plan-refusal.html
- Elmpark Green office block in Dublin 4 seeks €50m https://www.irishtimes.com/business/commercial-property/elmpark-green-office-block-in-dublin-4-seeks-50m-1.4036231?mode=amp
- Grade A office space at 6 Pembroke Row to let at competitive €55 per sq ft https://www.irishtimes.com/business/commercial-property/grade-a-office-space-at-6-pembroke-row-to-let-at-competitive-55-per-sq-ft-1.4032331?mode=amp
- Grafton Group sells UK plumbing and heating business for €75m – Independent.ie https://m.independent.ie/business/irish/grafton-group-sells-uk-plumbing-and-heating-business-for-75m-38554822.html
- IPUT granted permission for €75m centre in Carrickmines https://www.irishtimes.com/business/commercial-property/iput-granted-permission-for-75m-centre-in-carrickmines-1.4038782?mode=amp
- Linesight launches Building Taller in Ireland report https://www.linesight.com/en-gb/news/linesight-launches-building-taller-in-ireland-report/
- In the business section of the Sunday Independent today – Kildare man’s building firm earns €52m with bespoke basements for London elite – Independent.ie https://m.independent.ie/business/commercial-property/kildare-mans-building-firm-earns-52m-with-bespoke-basements-for-london-elite-38565743.html
- Tesla launches new construction company in China https://archinect.com/news/article/150162663/tesla-launches-new-construction-company-in-china
- Abbey subsidiary Kingscroft wins Foxrock planning appeal https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/construction/abbey-subsidiary-kingscroft-wins-foxrock-planning-appeal-1.4040551?mode=amp
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.
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 HERE: *PROPTECH INNOVATORS and STARTUPS *
- “Are we antagonising the industry with our proptech jargon and hashtags?”
Lessons from Proptech Riga 2019 – PropTech Ireland
Read more: https://prop-tech.ie/proptech-riga-2019/
- Excellent concept and upcoming event from @_aechive Check out: Introduction to AecHIVE https://www.youtube.com/watch?v=_sIU4QK5H1c
- In Connected magazine, inside The Sunday Business Post, there is a feature on page 35 about Digital Construction and how demand for better quality is driving the adoption of ICT across the industry.
- RICS Webinar – PropTech What’s Changed https://view.pointdrive.linkedin.com/presentations/6fd52da2-8829-4f51-b625-fa2d249d4b14?auth=aaf2c0d5-c60f-442a-a07b-99925c969a85
- New JLL Technologies Group to Be Led by Mihir Shah and Yishai Lerner | Markets Insider https://markets.businessinsider.com/news/stocks/new-jll-technologies-group-to-be-led-by-mihir-shah-and-yishai-lerner-1028563174
- 5G and digital transformation are the biggest worries for businesses today https://www.itproportal.com/news/5g-and-digital-transformation-are-the-biggest-worries-for-businesses-today/
- Interesting article by @jamesdearsley, many #startups will identify with this… #PropTech Today: Agents should capitalise on pivoting companies https://www.estateagenttoday.co.uk/breaking-news/2019/10/proptech-today-agents-should-capitalise-on-pivoting-proptech-companies
- What’s The Big Deal With JLL Technologies? https://www-forbes-com.cdn.ampproject.org/c/s/www.forbes.com/sites/angelicakrystledonati/2019/10/03/whats-the-big-deal-with-jll-technologies/amp/
- Adam Neumann’s Side Bet Selina Seeks $500 Million Property Fund https://www.bloomberg.com/news/articles/2019-10-02/adam-neumann-s-side-bet-selina-seeks-500-million-property-fund
- Global Proptech Investment Hits Record High in First Half of 2019 https://www.nreionline.com/technology/global-proptech-investment-hits-record-high-first-half-2019
- Antwerp-based proptech ZapfloorHQ raises €1 million for its coworking space management platform | EU-Startups https://www.eu-startups.com/2019/10/antwerp-based-proptech-startup-zapfloorhq-raises-e1-million-for-its-coworking-space-management-platform/
- Proptech partners to refine IoT buildings data for everyday use – Business Insider https://www.insider.co.uk/news/proptech-partners-refine-iot-buildings-20395334
- Retail PropTech – Technology to Drive Future Mall Profitability https://www.bbntimes.com/en/financial/retail-proptech-technology-to-drive-future-mall-profitability
- CoStar CEO on Company’s Push Into Hospitality, Its Product Roadmap and, of Course, WeWork | Propmodo https://www.propmodo.com/costar-ceo-on-companys-push-into-hospitality-its-product-roadmap-and-of-course-wework/
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/