Weekly Irish property market news and insights – for the industry, by the industry  

THANK YOU: A few quick notes before we start – the Property District offices in Dublin and Galway were closed last Monday due to a bereavement. Thank you to everyone who tolerated meetings and iPropertyRadio recordings cancelling at short notice. We – and I – genuinely appreciate your understanding.

TRAINING FOR SENIOR EXECUTIVES: On more positive news, our popular C-Suite Series is back this month (online and in-person at the RDS Members’ Club) and, for the first time, we are opening these up to non-clients. Our Q4 schedule will be circulated shortly via email – register your interest at info@propertydistrict.ie. 

RURAL IRELAND: There is a new group being set up for housing developers, property investors and estate agents trying or intending to deliver new homes, business premises or important infrastructure in rural Ireland – email in confidence to be included carol@propertydistrict.ie.

JOIN US: Last, but definitely not least, the Property District team is growing and we are currently recruiting a Graphic Designer & Visual Marketer for our Galway office, based in the heart of Connemara. Interesting clients, spectacular lunchtime walks and great coffee guaranteed!  Please share this with anyone who you think might be a good fit 🔗https://propertydistrict.ie/careers/

 

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:

 

• Ronan Lyons: The infantilisation of adults through (lack of) housing: New data gives empirical validity to the political anger felt by Ireland’s younger cohorts… “having more than twice as many adults living with their parents in just a decade” https://thecurrency.news/articles/126824/ronan-lyons-the-infantilisation-of-adults-through-lack-of-housing/

 

• Auctioneers call for ‘unprecedented measures’ to ease housing crisis: The Institute of Professional Auctioneers and Valuers say selling price inflation has slowed to just 2.05% https://www.irishtimes.com/business/2023/08/28/auctioneers-call-for-unprecedented-measures-to-ease-housing-crisis/

 

• Housing plans scuppered over wastewater issues https://connachttribune.ie/housing-plans-scuppered-over-wastewater-issues/

 

• Asset managers target Ireland’s rising number of affluent individuals: Strong economic growth has boosted prosperity and increased the demand for financial planning and investment advice https://www.ft.com/content/0e7cec34-5ffc-402c-8645-b72c6f36d7b3

 

• Land agency’s ‘targeted search’ for new head of finance continues: The hunt at the LDA continues after the preferred candidate for the job of chief financial officer at the state’s housing development bureau turned it down https://www.businesspost.ie/news/land-agencys-targeted-search-for-new-head-of-finance-continues/

 

• Firm owned by founders of Daft.ie earns €13.3m in dividend payouts over two-year period https://m.independent.ie/business/irish/firm-owned-by-founders-of-daftie-earns-133m-in-dividend-payouts-over-two-year-period/a16581542.html

 

• Would you consider renting a spare room to a student this year? Have your say. https://www.thejournal.ie/the-journal-poll-78-6154602-Aug2023/

 

• David McWilliams: Ireland’s ‘nepo-baby buyers’ are creating a two-tier housing system: Wealth perpetuates housing inequality, as those without parental financial backing struggle https://www.irishtimes.com/opinion/2023/09/02/david-mcwilliams-irelands-nepo-baby-buyers-are-creating-a-two-tier-housing-system/

 

• Unhappy bankers look to delay landmark accountability rules: Central Bank’s senior executive accountability regime framework may impact Ireland’s competitiveness and risk data breaches, bank representatives fear https://www.businesspost.ie/news/unhappy-bankers-look-to-delay-landmark-accountability-rules/

 

• Irish twice as likely as EU peers to use internet-connected devices – Number of people who use accessories such as smart watches or fitness bands more than doubled since 2020 https://www.irishtimes.com/technology/consumer-tech/2023/08/29/irish-twice-as-likely-as-eu-peers-to-use-internet-connected-devices/

 

If you missed last week’s round-up, you can catch up here: https://propertydistrict.ie/sunday-roundup/ 

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!)

 

SUNDAY LISTEN

We are excited to share the growth of iPropertyRadio! What started as #PropertyMatters, a 60-minute weekly show on Dublin South FM 93.9FM over 4 years ago, has now evolved into a global online station for the best construction, urban planning, property and proptech content. Check out our website, iPropertyRadio.com, brought to you by Hear Me Roar Media for live and recorded access to all the week’s built environment news. 

Do you want to have your industry podcast included or be a guest on our shows? Reach out to us at hello@ipropertyradio.com. Last year, we hit a massive 7.5 million digital impressions across our brands and this figure is growing – in June 2023, for the first time since we emerged from the pandemic lockdown, monthly ORGANIC digital impressions across Property District’s owned construction and real estate brands exceeded one million (*1,009,883*) – up from a monthly average of 765,876 in Q1! Huge thanks to all of you for your continued support!

 

Be sure to subscribe to the podcast and check out all of the other real estate and construction shows on  https://ipropertyradio.com/shows/

This week on iPropertyRadio… 

 

#Proptech Hot Seat

 

*VRX Architecture * 

 

In the iPropertyRadio.com Proptech Hot Seat with host Carol Tallon this week is Eric Gilligan, owner of VRX Architecture & Design. Eric discusses the creation of his app that does 3D exterior and interior renderings of plans, bringing your home to life before it is even built! Carol and Eric also talk about other various uses of this technology. 

Listen back to the full interview to hear about what the app gives to visitors of historical sites and other upcoming projects.: https://ipropertyradio.com/

Find out more information about VRX Architecture & Design here: https://www.facebook.com/VRXAD/ 

 

*Proptech Hot seat is sponsored by Proptech Ireland, the hub for innovators, investors and industry leaders.* https://prop-tech.ie/

 

Watch/ listen back: https://ipropertyradio.com/proptech-hot-seat/

 

Produced by Hear Me Roar Media https://hearmeroarmedia.com/

 

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

 

• 🚴 PLACEengage – Your Virtual Town Hall  is delighted to sponsor the ‘John Behan Memorial Cycle’ in  An Cheathru Rua, Connemara, 16th September 2023. I know we have lots of cycling enthusiasts in the industry so details of the planned routes (110 km and 65 km) and how to get involved are on the Club Rothaíochta Chonamara page 👉https://eventmaster.ie/event/YAyDcrOFjv    Bígí linn!

• Céard é Comhfhorbairt Áite? “Teastaíonn dea-áitíocht saineolaithe ildisciplíneacha freagraí a chur ar fáil, ach tugann áitíocht maith guth don phobal chun na ceisteanna cearta a chur ar bun.” 👉https://placeengage.com/ceard-e-comhfhorbairt-aite/ 

 

• Sordid streets of San Francisco a grim warning of what could happen to Dublin – Stripe co-founder John Collison’s warning about the state of the planning system here should be heeded as the root of the California city’s problems with soaring homelessness and crime rates is instructive for Dublin https://www.businesspost.ie/article/john-walsh-sordid-streets-of-san-francisco-a-grim-warning-of-what-could-happen-to-dublin/

 

• Public Consultation on the Draft Sustainable and Compact Settlement Guidelines for Planning Authorities https://www.gov.ie/en/consultation/451fc-public-consultation-on-the-draft-sustainable-and-compact-settlement-guidelines-for-planning-authorities/

 

• Electoral Commission review: New constituency carve-ups explained: The Commission recommended a new county boundary breach of Kilkenny https://www.irishexaminer.com/news/politics/arid-41215741.html

 

• They get more attention, but NIMBYs usually lose out in the end to YIMBYs: The Journal found a lot of objections against housing projects across Ireland – but most developments were cleared to go ahead anyway. https://www.thejournal.ie/impact-of-nimbys-on-irish-planning-permission-6152016-Aug2023/?

 

• Ibec calls for Government spending in Cork to keep up with population: The population of Cork city and suburbs is expected to grow between 105,000 and 125,000 people, an increase of between 50-60% by 2040 https://www.irishexaminer.com/business/companies/arid-41214394.html

 

• Over €87,000 spent upgrading underused Steward’s Lodge in Dublin’s Phoenix Park: House in Farmleigh Estate, refurbished for use as taoiseach’s residence by OPW, rarely used by office holders https://www.irishtimes.com/politics/2023/09/03/over-87000-spent-upgrading-underused-stewards-lodge-in-dublins-phoenix-park/

 

• Architects gather in Cork to ‘breathe life back into our cities’: ‘Cork city, along with other cities in Ireland, is suffering from dereliction and the eradication of the high street’ https://www.irishexaminer.com/property/homeandgardens/arid-41216509.html

 

• Planning appeal process is falling further behind: It can take up to two years to get planning permission for a house in rural Galway – not helped by An Bord Pleanála’s failure to tackle the backlog of planning appeals. https://connachttribune.ie/planning-appeal-process-is-falling-further-behind/

 

• Hollywood magic coming to North Wexford as Tara Studios to advance plans for Borleagh Manor – Information evening regarding plans for new studio to be held with local residents https://m.independent.ie/regionals/wexford/gorey-news/hollywood-magic-coming-to-north-wexford-as-tara-studios-to-advance-plans-for-borleagh-manor/a69095824.html

 

• ‘Unprecedented investment’ in midlands tourism announced https://www.westmeathindependent.ie/2023/08/29/unprecedented-investment-in-midlands-tourism-announced/

 

• New emergency housing facility in Midlands to open soon https://www.westmeathindependent.ie/2023/09/01/new-emergency-housing-facility-in-midlands-to-open-soon/

 

• 25 people now homeless across Cavan and Monaghan https://www.northernsound.ie/news/25-people-now-homeless-across-cavan-and-monaghan-221336

 

• 100 Refugees To Be Accommodated In Former Midlands Convent https://www.midlands103.com/news/midlands-news/100-refugees-to-be-accommodated-in-former-midlands-convent/

 

• Locals point way to a better future for Athlone’s westside – The new community spirit in evidence on Athlone’s westside is a hugely positive development https://www.westmeathindependent.ie/2023/08/29/locals-point-way-to-a-better-future-for-athlones-westside/

 

• Public consultation to be held for Ballybay to Castleblayney Greenway https://www.northernsound.ie/news/public-consultation-to-be-held-for-ballybay-to-castleblayney-greenway-221306

 

• Council to launch public consultation for Roscommon recreational developments https://www.shannonside.ie/news/council-to-launch-public-consultation-for-roscommon-recreational-developments-228912

 

• Mayo island’s masterplan set to be unveiled https://www.con-telegraph.ie/2023/08/28/mayo-islands-masterplan-set-to-be-unveiled/

 

• Decision due next month on development of new small craft harbour in Dingle https://www.radiokerry.ie/news/decision-due-next-month-on-development-of-new-small-craft-harbour-in-dingle-344977

 

• Pre-planning consultation for eco-sustainable short-term letting in Cahersiveen https://www.radiokerry.ie/news/pre-planning-consultation-for-eco-sustainable-short-term-letting-in-cahersiveen-344956

 

CONSTRUCTION, MMC & DEVELOPMENT NEWS

• Two of the biggest challenges Ireland faces are the chronic shortage of housing and climate change. While the Government has put substantial resources on the table to tackle these problems, our planning system is proving a major obstacle to progress https://www.irishtimes.com/business/economy/2023/09/01/irish-planning-system-is-essentially-a-multi-stage-obstacle-course/

 

• Access to skilled labour was the top worry of three quarters of construction firms here between April and June. Despite the talent crunch, 33% still managed to increase their turnover, with a similar proportion expecting it to continue to increase into Q3 https://www.rte.ie/news/business/2023/0830/1402541-talent-crunch-the-top-worry-for-construction-firms/

 

• CAO 2023: Points down for health courses but up for environment, construction and business https://www.irishtimes.com/ireland/education/2023/08/30/cao-round-one-tens-of-thousands-to-receive-offers-with-half-of-applicants-expected-to-secure-first-choice/

 

• High inflation and rising interest rates hit market for development land: Lisney report finds €86m in sales recorded in greater Dublin area in first half of 2023 compared to €279m in first half of 2022 https://www.irishtimes.com/property/commercial-property/2023/08/23/high-inflation-and-rising-interest-rates-hit-market-for-development-land/

 

• Skills shortages hindering builders; Plant hire contractors say Government ignoring pleas for aid with training https://www.irishtimes.com/business/2023/08/30/skills-shortages-hindering-builders/

 

• Ireland’s first electrical apprenticeship college unveiled at LMETB https://www.engineersireland.ie/Engineers-Journal/News/irelands-first-electrical-apprenticeship-college-unveiled-at-lmetb

 

• Multidisciplinary team appointed for Dublin’s landmark MetroLink programme, led by Turner & Townsend https://www.civilandconstruction.ie/2023/09/01/multidisciplinary-team-appointed-for-dublins-landmark-metrolink-programme/

 

• 8 of the biggest construction contract notices across Europe in August https://www.construction-europe.com/news/8-of-the-biggest-construction-contract-notices-across-europe-in-august/8031009.article

 

• Department of Education says aerated concrete material not used in Irish schools https://www.breakingnews.ie/ireland/department-of-education-not-aware-of-raac-materials-used-in-schools-in-ireland-1522006.html

 

• TD calls for civil servants to be ‘reined in’ over changes to concrete levy: Levy will take into account the ready-mix used in precast concrete https://www.irishexaminer.com/news/politics/arid-41215201.html

 

• Balbriggan residents oppose new €251m housing scheme https://www.breakingnews.ie/ireland/balbriggan-residents-oppose-new-e251m-housing-scheme-1520119.html

 

• Pat Kenny among parties bringing court challenge against planning for Dalkey nursing home: Newstalk host and three other Dalkey residents cite badger welfare in judicial review against decision to grant permission for 104-bed nursing home https://www.irishtimes.com/ireland/housing-planning/2023/08/30/broadcaster-pat-kenny-among-parties-challenging-planning-permission-for-dalkey-nursing-home/

 

• McGrath Group begins build of 50 high-end apartments on Kenilworth Motors site: Family-owned Irish property firm set to deliver mix of one- and two-bedroom units by first quarter of 2025 https://www.irishtimes.com/property/commercial-property/2023/08/23/mcgrath-group-begins-build-of-50-high-end-apartments-on-kenilworth-motors-site/

 

• Developer welcomes Cork City Council decision to grant planning for largest-ever residential scheme: Company hopes to begin construction work next year https://www.irishtimes.com/ireland/2023/08/28/developer-welcomes-cork-city-council-decision-to-grant-planning-for-largest-ever-residential-scheme/

 

• Multiple objections to Blackrock Rd residential development proposal: The site consists of two historic houses that date from the 1840s with associated large rear gardens and a historic access lane with the main development plot to the rear https://www.echolive.ie/corknews/arid-41213692.html

 

• Approval for additional apartments at existing complex in Ballybane https://galwaybayfm.ie/galway-bay-fm-news-desk/approval-for-additional-apartments-at-existing-complex-in-ballybane/

 

• Major Galway housing plan green light as much needed accommodation coming: It represents a huge boost for housing in the area https://www.galwaybeo.ie/news/ireland-news/major-galway-housing-plan-green-8710469#google_vignette

 

• High volume of objections to planned new housing estate in Athenry https://galwaybayfm.ie/galway-bay-fm-news-desk/high-volume-of-objections-to-planned-new-housing-estate-in-athenry/

 

• AN OBJECTION by Mary Immaculate College to student accommodation in Limerick has been described as “bizarre” and “mind-boggling”. Plans for a new 22-room, three-storey apartment block at Courtbrack Avenue near the city college were approved by council. https://www.limerickleader.ie/news/home/1283132/limerick-college-s-objection-to-student-accommodation-is-mind-boggling.html

 

• Limerick student village may not be ready for start of academic term https://www.limerickleader.ie/news/home/1283041/limerick-student-village-may-not-be-ready-for-start-of-academic-term.html

 

• New Limerick Special School to be built on grounds of existing secondary school. https://www.live95fm.ie/news/live95-news/new-limerick-special-school-to-be-built-on-grounds-of-existing-secondary-school/

 

• Summer 2023 has put a stop to sporadic water mains bursts in Granlahan with an Uisce Éireann project completed in the Roscommon village, situated close to the border with Mayo https://www.con-telegraph.ie/2023/08/31/out-with-the-old-in-with-the-new-for-west-of-ireland-village/

 

• Over sixty residential units under construction in Carlow for Ukrainian refugees https://www.carlowlive.ie/news/home/1283090/over-sixty-residential-units-under-construction-in-carlow-for-ukrainian-refugees.html

 

• Major housing development planned for Portlaoise https://www.leinsterexpress.ie/news/portlaoise-/1283362/major-housing-development-planned-for-portlaoise.html

 

• Fierce opposition to protected structure refurbishment and 24 apartments in Tullamore https://www.offalyexpress.ie/news/tullamore-tribune/1284244/fierce-opposition-to-protected-structure-refurbishment-and-24-apartments-in-tullamore.html

 

• Planning approved for 14 houses in Laois https://www.leinsterexpress.ie/news/local-news/1287198/planning-approved-for-14-houses-in-laois.html

 

• Illegal dumping of construction waste sparks fury in Offaly https://www.ireland-live.ie/news/offaly-live/1283900/illegal-dumping-of-construction-waste-sparks-fury-in-offaly.html

 

• Tipperary County Council examining major planning applications for housing in these towns https://www.tipperarylive.ie/news/home/1281424/tipperary-county-council-examining-major-planning-applications-for-housing-in-these-towns.html

 

• Five houses to be demolished in Louth to make way for 42 new units https://www.dundalkdemocrat.ie/news/local-news/1283228/five-houses-to-be-demolished-in-louth-to-make-way-for-42-new-units.html

 

• Plans for new mixed use development in Omeath – Mixed commercial & residential development on Main Street https://www.dundalkdemocrat.ie/news/home/1285682/plans-for-new-mixed-use-development-in-omeath.html

 

• Planning permission sought for 15 homes In Bultersbridge https://www.northernsound.ie/news/planning-permission-sought-for-15-homes-in-bultersbridge-221539

 

• Planning sought for 181 houses and apartments https://www.westmeathexaminer.ie/2023/08/28/planning-sought-for-181-houses-and-apartments/

 

• Major retail development plans for Kells submitted https://www.meathchronicle.ie/2023/09/01/major-retail-development-plans-for-kells-submitted/

 

• Landmark Dromineer hotel set for redevelopment as company signals intention to demolish it https://www.ireland-live.ie/news/tipperary-live/1287974/landmark-dromineer-hotel-set-for-redevelopment-as-company-signals-intention-to-demolish-it.html

 

• 10 emerging roles in the construction industry: As the construction industry continues to digitize and modernize, here are some relatively new roles trending in the space. https://www.geoweeknews.com/blogs/construction-engineering-roles-sustainability-inventory-coordinator

 

• Glass company claims picketing of its premises is unlawful: Unite members have twice protested outside Carey Glass premises in Nenagh, High Court told https://www.irishtimes.com/business/2023/08/29/glass-company-claims-picketing-of-its-premises-is-unlawful/

 

• Construction Glass Market Soars as Sustainable Building Trends Gain Momentum https://www.digitaljournal.com/pr/news/xherald/construction-glass-market-soars-as-sustainable-building-trends-gain-momentum

 

• CRH chief sells €3 million shares in building materials giant: Albert Manifold, who is one of the highest paid executives in Ireland, sold over 58,000 shares in the firm last week https://www.businesspost.ie/news/crh-chief-sells-e3-million-shares-in-building-materials-giant/

 

• John Paul Construction revenues rose by over a fifth last year to €507m https://m.independent.ie/business/irish/john-paul-construction-revenues-rose-by-over-a-fifth-last-year-to-507m/a121382623.html

 

• Fitzpatrick and Heavey Homes snap up Eurometals for €3m – Prime facility in Saggart, Dublin, made building materials company a perfect fit for residential development firm https://www.businesspost.ie/news/fitzpatrick-and-heavey-homes-snap-up-eurometals-for-e3m/

 

PROPTECH, ESG & CONSTRUCTION INNOVATION

 

• Proptech Ireland is updating the database of 2023 Irish technology providers for the built environment – From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based proptech  or MMC business sit?  Pease take five minutes to add or update your details to our internationally-shared listing here: SIGN UP HERE: *https://prop-tech.ie/register/ * and email product or service details to hello@prop-tech.ie

 

• Proptech Ireland: Ireland’s CONSTRUCTION and REAL ESTATE ESG technologies resource hub. Confused about how and where to start on your ESG journey? Contact us 👉https://prop-tech.ie

 

• Dublin drops out of top 10 start-up cities ranking in Europe https://www.siliconrepublic.com/start-ups/dublin-ireland-startup-ecosystem-ranking-startupblink-report

 

• Hottest Summer Ever And Water Crisis: Building A Sustainable Future https://www.forbes.com/sites/angelicakrystledonati/2023/09/01/the-hottest-summer-ever-and-the-water-crisis-building-a-sustainable-future/

 

• Tool To Achieving Efficiency, Efficacy and Bottom Line In Real Estate: Although other industries have long embraced innovations such as cloud storage, sensors, and mobile tech, the real estate sector has taken a little longer to start widely adopting tech https://www.news18.com/business/proptech-a-tool-to-achieving-efficiency-efficacy-and-bottom-line-in-real-estate-8558215.html

 

• New sustainability tools help businesses and cities map environmental information https://blog.google/products/maps/google-maps-apis-environment-sustainability/

 

• Bringing Legacy Firms And Startups Together To Solve The Proptech Puzzle https://www.forbes.com/sites/forbesbusinesscouncil/2023/08/28/bringing-legacy-firms-and-startups-together-to-solve-the-proptech-puzzle/

 

• Apartments at Kennedy Wilson’s Capital Dock secure WiredScore Platinum certification: Scheme in Dublin’s south docklands features dedicated telecommunications rooms to guard against data theft https://www.irishtimes.com/property/commercial-property/2023/08/23/apartments-at-kennedy-wilsons-capital-dock-secure-wiredscore-platinum-certification/

 

• PropTech Today – How can regulated open data sharing unlock the property transaction? https://www.estateagenttoday.co.uk/breaking-news/2023/8/proptech-today–how-can-regulated-open-data-sharing-unlock-the-property-transaction?source=newsticker

 

• What is ‘greenwashing’ in sustainable building practices? Smart building systems with real-time performance monitoring are key to creating accountability and ensuring on-ground realities match idealistic intentions https://www.constructionweekonline.com/business/insights/what-is-greenwashing-in-sustainable-building-practices

 

• EasyKnock, the first technology-enabled residential sale-leaseback platform, announced it has been selected as the winner of “Overall PropTech Solution of the Year” in the annual PropTech Breakthrough Awards https://www.businesswire.com/news/home/20230830392344/en/EasyKnock-Wins-the-2023-Overall-PropTech-Solution-of-the-Year

 

• Why Today’s Technology Providers Should Meet People Where They Work https://www.forbes.com/sites/forbestechcouncil/2023/08/28/why-todays-technology-providers-should-meet-people-where-they-work/

 

• Difficult real estate environment presents innovation opportunities, says Shadow Ventures partnerhttps://www.bizjournals.com/atlanta/inno/stories/profiles/2023/08/31/reddy-shadow-ventures-proptech-real-estate.html

 

 

 

ENERGY, CLIMATE & ENVIRONMENT 

• ‘2023 is a pivotal year’ – Ireland’s climate tsar on how to avert environmental disaster: Marie Donnelly, chair of the Climate Change Advisory Council, on rising sea levels and why she’s ‘cautiously optimistic about agriculture’ https://www.businesspost.ie/news-focus/2023-is-a-pivotal-year-irelands-climate-tsar-on-how-to-avert-environmental-disaster/

 

• End of an era: Why the IFSC risks turning into a fossil of Ireland’s corporate history: The area remains Ireland’s key financial centre, but its buildings are now 30 years old and not suitable for larger firms with ESG commitments https://www.businesspost.ie/article/end-of-an-era-why-the-ifsc-risks-turning-into-a-fossil-of-irelands-corporate-history/

 

• UrbanVolt raises €26m to fund European expansion – Irish energy business sells small majority stake https://www.irishtimes.com/business/2023/08/31/urbanvolt-raises-26-million/

 

• Up to 50,000 Dublin homes could be heated with energy from Poolbeg incinerator, Ryan says: State’s first large-scale district heating scheme could be ready to come into operation by 2025, according to Minister https://www.irishtimes.com/politics/2023/08/31/up-to-50000-dublin-homes-could-be-heated-with-energy-from-poolbeg-incinerator-ryan-says/

 

• Eirgrid says long-delayed electricity interconnector link to North is ‘critical’ for energy security: Just one 300MW line currently runs between the two parts of the island https://m.independent.ie/business/irish/eirgrid-says-long-delayed-electricity-interconnector-link-to-north-is-critical-for-energy-security/a1001835647.html

 

• Head to head: Does retrofitting your home pay off? Our climate objectives envisage that 500,000 dwellings should have undergone retrofitting by 2030. But can retrofitting deliver the promised savings? https://www.irishtimes.com/opinion/2023/08/29/head-to-head-does-retrofitting-your-home-pay-off/

 

• Do local communities need to see the light when it comes to solar farms? Data shows 60,000  homes in Ireland now have solar panels, when it comes to solar farms, though, some communities and local authorities are more reluctant to embrace the new tech https://www.irishexaminer.com/opinion/commentanalysis/arid-41212873.html

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• Splashing cash to help mortgage holders is not enough – we need more bank competition: Budget measures to help those struggling with soaring interest rates will not last long enough to solve the deep structural issues in the housing sector https://www.businesspost.ie/article/ian-guider-splashing-cash-to-help-mortgage-holders-is-not-enough-we-need-more-bank-competition/

 

• Ulster Bank has agreed a deal to sell its remaining residual portfolio of loans, worth almost €700m, as part of its exit from the Republic of Ireland. https://www.rte.ie/news/business/2023/0830/1402477-ulster-bank-agrees-deal-to-sell-most-remaining-loans/

 

• Housing Crisis Ireland: IPAV makes seven suggestions for Budget 2024 to improve young people’s home-ownership: Ireland has one of the highest rates of single adults living with their parents in Europe. https://www.buzz.ie/news/irish-news/young-people-property-ownership-ireland-30807061.amp

 

• More than 180 families made homeless in three months since lifting of eviction ban https://www.irishexaminer.com/news/arid-41217259.html

 

• Hail housing assists record number of people in 2022 – Mental health organisation’s chief executive warned about difficulty in meeting growing demand for services https://www.irishtimes.com/ireland/housing-planning/2023/08/28/hail-housing-assists-record-number-of-people-in-2022/

 

• Tax breaks for landlords are a terrible idea: There is little to no economic logic for giving tax breaks to landlords, and the people who need help – those providing new supply and those in rental accommodation – can be helped in other, more targeted ways https://thecurrency.news/articles/127020/stephen-kinsella-tax-breaks-for-landlords-are-a-terrible-idea-this-is-why/

 

• Two Cork ghost estates to be completed to provide much needed housing; Perfectly good houses have been empty for “many, many years”https://www.corkbeo.ie/news/two-cork-ghost-estates-completed-27631493#google_vignette

 

• Four Cork properties on the market starting at €195,000: First-time buyers can choose from cosy apartments in Midleton or city living on Cork’s Fair Hill https://www.irishexaminer.com/property/residential/arid-41214031.html  

 

• New West Cork homes to hit the market before year’s end under affordable housing scheme: Thirty-eight two and three-bed houses will be up for grabs https://www.corkbeo.ie/news/local-news/new-west-cork-homes-hit-27636360#google_vignette

 

• ‘Out of this world’ Galway cottage being sold as buyers flock to grab priceless home: Like something from a fairytale or Lord of the Rings https://www.galwaybeo.ie/culture/out-world-galway-cottage-being-8714266 

 

• County Sligo abandoned apartment complex just being left to rot – The Mill apartments in Ballisodare have been vacant since 2007 https://m.independent.ie/regionals/sligo/news/county-sligo-abandoned-apartment-complex-just-being-left-to-rot/a1405351871.html

 

• ‘‘The location, the sea, the Aran islands, the Cliffs of Moher, it’s a spectacular setting’ – A German businessman has embraced the landscape and local materials in the construction of a new development in Furbo, Co Galway https://www.irishtimes.com/property/interiors/2023/09/02/the-location-the-sea-the-aran-islands-the-cliffs-of-moher-its-a-spectacular-setting/

 

• Ryanair boss Michael O’Leary’s company buys beachside home from nuns in Co Wexford for more than €1m https://m.independent.ie/irish-news/ryanair-boss-michael-olearys-company-buys-beachside-home-from-nuns-in-co-wexford-for-more-than-1m/a784007976.html

 

• Mayo three-bedroom house prices up 3.3 percent in a year: Three-bedroom houses in Mayo fetch over €200,000 in the first six months of 2023 https://www.mayonews.ie/news/home/1283089/mayo-three-bedroom-house-prices-up-3-3-percent-in-a-year.html

 

• TUS calls on local property owners to open homes to students https://www.shannonside.ie/news/tus-calls-on-local-property-owners-to-open-homes-to-students-228770

 

• Hozier applies for new guest house and gym in his country manor https://www.thetimes.co.uk/article/hozier-applies-for-new-guest-house-and-gym-in-his-country-manor-ssznnqzpk

 

• Eleven people refused social house offers in Longford https://www.ireland-live.ie/news/longford-live/1284409/eleven-people-refused-social-house-offers-in-longford.html

 

• Shrewsbury Road home on the market for only the second time in over 90 years for €6.5m – Unlike other properties in the area steeped in stories of high-profile residents, Ballyfoyle has gone under the radar as a much-loved family home https://www.irishtimes.com/property/residential/2023/09/07/shrewsbury-road-home-on-the-market-for-only-the-second-time-for-65m-in-over-90-years/

 

• Fergal Naughton buys Dermot Desmond’s €9m Merrion Square town house: Glen Dimplex chairman’s Howth home on market for €8.75m after €1.25m price cut https://www.irishtimes.com/property/residential/2023/09/02/fergal-naughton-buys-dermot-desmonds-9m-merrion-square-town-house/

 

• House and land at Graftonstown https://www.westmeathexaminer.ie/2023/08/28/house-and-land-at-graftonstown/

 

• Making moves – 5 tips when going from being a tenant to a homeowner: There’s nothing quite like finding your own home, and moving from tenant to homeowner is something you never forget. https://m.independent.ie/storyplus/making-moves-5-tips-when-going-from-being-a-tenant-to-a-homeowner/a1820856543.html

 

• Inside Tipperary’s 18th century 10-bedroom Sopwell Hall Estate, currently on the market for €8.5 million https://www.image.ie/living/inside-tipperarys-18th-century-10-bedroom-sopwell-hall-estate-currently-on-the-market-for-e8-5-million-744851

 

• Multi-unit Dublin houses and reduced-price properties in BidX1 auctions: A mix of properties, including a Victorian redbrick on Raglan Road in Dublin 4, are among attractive offers in online auctions this month https://www.businesspost.ie/property/multi-unit-dublin-houses-and-reduced-price-properties-in-bidx1-auctions/

 

 

COMMERCIAL PROPERTY NEWS

• Airbnb claims 10% of 2022 international tourism spend in Ireland https://www.rte.ie/news/business/2023/0830/1402350-airbnb-economy/ Also: Airbnb research finds spending linked to platform contributed €500m to Irish economy last year https://m.independent.ie/business/irish/airbnb-research-finds-spending-linked-to-platform-contributed-500m-to-irish-economy-last-year/a1325370630.html 

 

• Property sector woes give Aviva ‘buying opportunity’ https://www.thetimes.co.uk/article/property-sector-woes-give-aviva-buying-opportunity-38dw2shrw

 

• Dalata sees earnings and revenues rise following ‘record’ performance https://m.independent.ie/business/irish/dalata-sees-earnings-and-revenues-rise-following-record-performance/a1759403564.html

 

• Hatch Hall to house refugees again following sale for €23m: Landmark Victorian building’s previous owner, Red Carnation, secured planning permission for 60-bedroom boutique hotel https://www.irishtimes.com/property/commercial-property/2023/08/30/hatch-hall-to-house-refugees-again-following-sale-for-23m/

 

• Penneys completes €10m revamp of flagship Mary Street store – Investment part of a €250m plan to overhaul its Irish stores over next 10 years https://www.irishtimes.com/business/2023/08/31/penneys-completes-10m-revamp-of-flagship-mary-street-store/

 

• EY Ireland narrows search for Dublin HQ to four developments: Big Four accountant and advisory business looking to nearly double its office space in city centre https://www.irishtimes.com/business/financial-services/2023/09/02/ey-ireland-narrows-search-for-dublin-hq-to-four-developments/

 

• Office block on Cork’s South Mall is being turned into 17 luxury apartments~ It’s the first of what is expected to be a rush of similar conversions in the city centre https://www.corkbeo.ie/news/property/office-block-corks-south-mall-27608156#google_vignette 

 

• H&M Home to open at Cork’s Opera Lane next week https://www.irishexaminer.com/property/homeandgardens/arid-41214916.html

 

• Three years on former site of beloved 140-year-old Cork city pub remains empty: The pub was demolished in 2020, having stood on Leeside since 1877 https://www.corkbeo.ie/news/local-news/three-years-former-site-beloved-27620211#google_vignette

 

• New €5 million facility for Cork as Fastway invests into Munster: The huge investment marks the leading Irish delivery company’s commitment to growing its network in Cork and Munster https://www.corkbeo.ie/news/local-news/new-5-million-facility-cork-27619470

 

• Landmark Treasure Chest store in Galway is sold https://connachttribune.ie/landmark-treasure-chest-store-in-galway-is-sold/

 

• French investor in €9.8m deal for Waterford retail unit: Property is let to DIY retail giant Woodie’s until 2032 and is generating €909,184 in annual rental income https://www.irishtimes.com/property/commercial-property/2023/08/30/french-investor-in-98m-deal-for-waterford-retail-unit/

 

• Two Tesco stores in Wicklow set for upgrade as retailer announces €80m national investment https://wicklownews.net/2023/08/two-tesco-stores-in-wicklow-set-for-upgrade-as-retailer-announces-e80m-national-investment/

 

• Well-known South Kildare pub and restaurant for sale: Unique opportunity: Walls of Kilgowan has come on the market with a guide price of €695,000 https://www.ireland-live.ie/news/kildare-now/1284813/well-known-south-kildare-pub-and-restaurant-for-sale.html

 

• Dundalk’s tallest building set to change name to The Gateway Hotel https://m.independent.ie/regionals/louth/dundalk-news/dundalks-tallest-building-set-to-change-name-to-the-gateway-hotel/a1312667055.html

 

• Clare hotels share out €21.27m Ukrainian accommodation bonanza https://www.clareecho.ie/clare-hotels-share-out-e21-27m-ukrainian-accommodation-bonanza/

 

• Roscrea is in line for a welcome jobs boost with a new business located at the Business and Innovation Park in Benamore. https://www.tipperarylive.ie/news/home/1287112/massive-5m-investment-has-potential-to-bring-estimated-new-30-jobs-to-this-tipperary-town.html

 

• Well-maintained commercial unit offers a range of possibilities: Offices, a showroom and warehouse are among the facilities on offer at this €645,000 Blackwater village property in Wexford https://www.businesspost.ie/property/well-maintained-commercial-unit-offers-a-range-of-possibilities/

 

INTERNATIONAL PROPERTY NEWS

• The number of houses sold in the UK this year is on track to be the lowest since 2012, according to property website, Zoopla. https://www.bbc.com/news/business-66652415 

 

• Industry reacts to sharp fall in UK property transactions https://propertyindustryeye.com/industry-reacts-to-sharp-fall-in-uk-property-transactions/

 

• Repeal of water pollution rules won’t solve England’s housing crisis, say developers: Housebuilders welcome move but fear amending levelling up bill will cause months of delays  https://www.theguardian.com/politics/2023/aug/29/repeal-of-water-pollution-rules-wont-solve-englands-housing-crisis-say-developers

 

• UK House-building probe to focus on land banking and barriers to entry: After a six-month consultation, the competition watchdog has set out the scope of its investigations into the house-building sector https://www.theconstructionindex.co.uk/news/view/house-building-probe-to-focus-on-land-banking-and-barriers-to-entry

 

• UK Housing associations to cut home building  22%: A perfect storm of construction inflation, higher interest rates, fresh regulatory pressures, and the soaring cost of debt is causing housing associations to slash building programmes. https://www.constructionenquirer.com/2023/08/31/housing-associations-to-cut-home-building-by-22/

 

• The UK government has announced that it will mandate sustainable drainage in new developments in England as part of the Flood and Water Management Act 2010’s Schedule 3. https://www.homebuilding.co.uk/news/suds-to-become-mandatory-in-homes-from-next-year

 

• Gloomy outlook among small practices as private UK house projects slump – Smaller practices are feeling increasingly pessimistic about the future as the housing market dips, according to the latest RIBA Future Trends reporthttps://www.architectsjournal.co.uk/news/gloomy-outlook-among-small-practices-as-private-house-work-slumps

 

• Germany set to propose three-year rent break – Tenants struggle to cope with the soaring cost of housing in Europe’s largest economy https://www.irishtimes.com/world/europe/2023/08/27/germany-set-to-propose-three-year-rent-break/

 

• Country Garden loses record €6bn in first half: China’s largest private property developer battling to survive amid real estate sector crisis https://www.irishtimes.com/business/2023/08/30/country-garden-loses-record-6bn-in-first-half/

 

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 now appears as part of The Property Insider series, published by Oak Tree Press, the first three titles are now published and available here: https://www.amazon.com/Carol-Tallon/

From 2020, the publishers and I wanted to ensure the content remains topical and we are now 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/