Sunday Property Round-Up October 16th, 2022

Weekly 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: 

• NAMA asked if it could be used to help with the housing crisis to avoid losing the “valuable expertise and experience” it had built up during its years of operation  https://www.rte.ie/news/business/2022/1009/1328100-nama-asked-for-ongoing-role-in-solving-housing-crisis/

• Davy cuts growth forecast for Irish economy and warns on home completions: Broker warns higher input costs in construction sector will result in fewer-than-expected new houses next year  https://www.irishtimes.com/business/economy/2022/10/10/davy-cuts-growth-forecast-for-irish-economy-and-warns-on-home-completions/

• Tax breaks for developers and relaxed planning laws on the table as Fine Gael grapple with new ways to solve housing crisis: Wider eligibility for social housing and €100,000 grants for vacant properties returned to use also suggested during party think-in https://www.independent.ie/irish-news/politics/tax-breaks-for-developers-and-relaxed-planning-laws-on-the-table-as-fine-gael-grapple-with-new-ways-to-solve-housing-crisis-42068440.html

• To pit landlord against tenant is to misunderstand the market. An eviction ban will only make things worse  https://m.independent.ie/opinion/comment/to-pit-landlord-against-tenant-is-to-misunderstand-the-market-an-eviction-ban-will-only-make-things-worse-42055859.html

• Dublin councils predict dramatic shift from leased social housing to new-builds: Dublin City Council (DCC) and Dun Laoghaire Rathdown County Council estimate they will deliver 19,000 new units over the next five years.  https://www.irishtimes.com/ireland/housing-planning/2022/10/11/dublin-councils-predict-dramatic-shift-from-leased-social-housing-to-new-builds/

• We won’t solve housing crisis until TDs take on the Nimby brigade  https://m.independent.ie/opinion/comment/we-wont-solve-housing-crisis-until-tds-take-on-the-nimby-brigade-42069530.html

• Fast-track fiasco: property developers get €1m in payouts as An Bord Pleanála takes too long on planning decisions  https://m.independent.ie/irish-news/fast-track-fiasco-property-developers-get-1m-in-payouts-as-an-bord-pleanala-takes-too-long-on-planning-decisions-42062929.html

• Developers plot to sue An Bord Pleanala over planning delays: Board could face claims for redress running to tens of millions of euros  https://www.thetimes.co.uk/article/developers-plot-to-sue-an-bord-pleanala-over-planning-delays-skcn085zz

• Government denies failing to tackle An Bord Pleanála controversy https://www.irishexaminer.com/news/arid-40982168.html

• We once had the Million Pound Scheme. Time to get our ambition back and plan homes for all: When it comes to housing its people, the State has all the financial firepower it needs, plus a plethora of delivery mechanisms  https://www.irishtimes.com/property/residential/2022/10/13/hugh-wallace-we-once-had-the-million-pound-scheme-time-to-get-our-ambition-back-and-plan-homes-for-all/

• Apartment buildings mixed with houses ‘definitely’ the solution: Repurposing vacant banks, converting churches to homes and modular construction are just some of the ideas https://www.newstalk.com/news/apartment-buildings-mixed-with-houses-definitely-the-solution-1392810

• The government is to consider legislation to tackle sex-for-rent propositions following recommendations from the ongoing review into legislation criminalising the purchase of sex.  https://www.irishexaminer.com/news/arid-40981031.html

• National Retrofit Programme facing ‘unprecedented challenges’, Oireachtas committee told  https://www.irishexaminer.com/news/arid-40981115.html

• Varadkar assured tech firms of continuing support for data centre expansion:Trade mission notes earlier this year, ahead of a meeting with firms such as Google and Apple, outlined that the Department of Enterprise would continue to support data centre connections https://www.businesspost.ie/news/varadkar-advised-to-brief-multinationals-on-data-centre-expansion-despite-limited-grid-supply/

• Emigrate or inherit: how Bungalow Bliss revolutionised rural Ireland’s housing options  https://m.independent.ie/irish-news/emigrate-or-inherit-how-bungalow-bliss-revolutionised-rural-irelands-housing-options-42062107.html

• Paddy McKillen’s French idyll: A place of great architecture and stunning art – At Château La Coste, the billionaire Irish hotel magnate has created a destination for connoisseurs of fine wine and great design  https://www.irishtimes.com/culture/2022/10/15/paddy-mckillens-french-idyll-a-place-of-great-architecture-and-stunning-art/

• Six buildings that show reuse “isn’t a constraint on creativity”  https://www.dezeen.com/2022/10/11/renovation-building-for-change-architecture-creative-reuse-ruth-lang/

• Inside Zuckerberg’s metaverse struggles: Even some Meta insiders are sceptical of the CEO’s vision for the future of computing  https://www.irishtimes.com/technology/big-tech/2022/10/13/inside-zuckerbergs-metaverse-struggles/

• ‘Inflatable’ concrete homes are coming to the market thanks to this startup  https://archinect.com/news/article/150326578/inflatable-concrete-homes-are-coming-to-the-market-thanks-to-this-startup

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

What started as #PropertyMatters, a single 60-minute show on Dublin South FM 93.9FM every Tuesday night, has now evolved into an online station hosting the very best construction, urban planning, property and proptech radio shows and podcasts from around the world. Our new website – produced by Hear Me Roar Media – offers audiences live and recorded access to global built environment content. To have your industry podcast included in the iPropertyRadio line-up, or to contribute as a guest on any of the show on iPropertyRadio.com, email hello@ipropertyradio.com 

On iPropertyRadio this week…

Part 1 – Wiredscore’s Jules Barker  – ESGR? Putting resilience at the heart of ESG

On ‘Property Matters’ iPropertyRadio.com this week Jules Barker, Global Director of Product at WiredScore, discusses WiredScore digital connectivity certification and SmartScore.

Also: 

• In the current economic environment, why would owners put extra technology into buildings? 
• How does a property owner or developer know what the right technology is?
• How do you create a smart building that is sustainable?

Watch back and listen back: https://ipropertyradio.com/property-matters/ 

Part 2 – IGBC’s Pat Barry – Roadmap to decarbonise Ireland’s built environment 

On ‘Breaking Ground’ iPropertyRadio.com this week Pat Barry, CEO of Iish Green Building Council  breaks down the roadmap to decarbonise Ireland’s built environment, with a focus on low carbon new homes, greater emphasis on retrofit, the need to innovation construction materials, and unlocking the potential of the circular economy.

Watch back and listen back: https://ipropertyradio.com/breaking-ground/ 

Part 3 – RentDodo’s Conor McGarry – Digitising tenant verification and letting applications

In the iPropertyRadio.com Proptech Hot Seat today  RentDodo founder, Conor McGarry discusses the current problem of letting agents handling large volumes of applications and he introduces a tech-enabled approach to selecting verified tenants in  GDPR-compliant way

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

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

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

• Digital Placemaking Tools for Public Consultation & Community Engagement | PLACEengage https://placeengage.com/digital-placemaking-tools-for-public-consultation-community-engagement/

• Housing Unlocked exhibition aims to show original solutions to housing crisis: Irish Architecture Foundation and Housing Agency exhibition in the Science Gallery at TCD offers innovation in the form of repurposing vacant bank buildings, disused Garda stations and even parts of a Dublin city church to provide accommodation https://www.businesspost.ie/property/housing-unlocked-exhibition-aims-to-show-original-solutions-to-housing-crisis/

• Running out of road: Why planners are intent on taking cars out of our cities – Paris is redesigning the Champs-Élysées to make it greener with more space for bicycles and pedestrians. At home, a number of agencies, along with local and national government, are working on similar plans. But is Ireland ready to take the car out of its cities?  https://www.businesspost.ie/news-focus/running-out-of-road-why-planners-are-intent-on-taking-cars-out-of-our-cities/

• Why are young Irish people living at home longer?  https://www.rte.ie/brainstorm/2022/1013/1328994-ireland-young-people-living-at-home-cost-of-living-housing/

• The race to find space: State is nearing its limit to house Ukrainian refugees and other asylum-seekers: A fundamental rethink of how to approach housing refugees is being planned now that it is clear the war in Ukraine will not be ending any time soon  https://www.irishtimes.com/ireland/social-affairs/2022/10/15/the-race-to-find-space-state-is-nearing-its-limit-to-house-ukrainian-refugees-and-other-asylum-seekers/

• Bids to design civic plaza for Dublin’s College Green to be sought within next month: Interim measures to remove traffic from city centre area to be implemented from next year  https://www.irishtimes.com/ireland/2022/10/11/college-green-to-go-car-free-from-next-year-under-priority-plan/

• More than 230 objections made against 580-unit apartment development in Raheny  https://www.breakingnews.ie/amp/ireland/more-than-230-objections-made-against-580-unit-apartment-development-in-raheny-1376004.html

• Urban planning: ‘society has come to accept that when the systems we have in place don’t do much to serve our needs, it forces us to turn to alternatives to advocate for change’ https://www.archdaily.com/989970/can-urban-design-find-success-through-grassroots-movements

• Building Communities: New project from Cairn Homes and Children’s Books Ireland lays the foundation for a brighter future through books – IrishRealEstate.news https://www.irishrealestate.news/building-communities-new-project-from-cairn-homes-and-childrens-books-ireland-lays-the-foundation-for-a-brighter-future-through-books%EF%BF%BC%EF%BF%BC/ 

• BusConnects Cork plan drives a wedge between frustrated commuters and fearful homeowners  https://www.irishexaminer.com/news/spotlight/arid-40977848.html

• Site earmarked for modular homes for Ukrainians ‘unsuitable’  https://www.con-telegraph.ie/2022/10/11/site-earmarked-for-modular-homes-for-ukrainians-unsuitable/

• High-profile and award winning Grafton Architects have been appointed as the consulting architects for the Harbour Masterplan project in Tullamore https://www.offalyexpress.ie/news/tullamore-tribune/938272/award-winning-architects-appointed-consultants-for-key-offaly-project.html

• New section of greenway nearing completion in west Mayo  https://www.con-telegraph.ie/2022/10/13/new-section-of-greenway-nearing-completion-in-west-mayo/

• Everything you need to know about moving to London – Irish in London: From getting a National Insurance number to sending children to school and playing GAA, know what’s involved before making your big move  https://www.irishtimes.com/abroad/2022/10/10/everything-you-need-to-know-about-moving-to-london/

CONSTRUCTION & DEVELOPMENT NEWS

• MMC Ireland – “Collaboration at this scale has the potential to have a huge impact on MMC adoption across Ireland”: Ireland’s Construction Leaders Come Together to Champion Modern Methods of Construction – IrishRealEstate.news https://www.irishrealestate.news/irelands-construction-leaders-come-together-to-champion-modern-methods-of-construction/

• Irish construction just about returns to growth as input costs increase: Housing and commercial activity increased in September while civil engineering contracted  https://www.irishexaminer.com/business/economy/arid-40979633.html

• Housing targets do not chime with climate ones; Decarbonising the construction/built environment sector is likely to prove a monumental task  https://www.irishtimes.com/business/2022/10/13/housing-targets-dont-chime-with-climate-ones/Also, State may need to limit home-building to just 21,000 units a year to meet climate targets: Irish Green Building Council says ‘all new homes must be highly energy efficient, but the construction process itself must be low carbon’  https://www.irishtimes.com/business/2022/10/13/state-may-need-to-limit-home-building-to-just-21000-units-a-year-to-meet-climate-targets/

• New law to cut delays and red tape on planning applications: Sweeping reforms expected in upcoming bill include shorter deadlines for An Bord Pleanála decisions and changes to judicial review rules  https://www.businesspost.ie/politics/new-law-to-cut-delays-and-red-tape-on-planning-applications/

• Gender Discrimination on Construction Sites: Fill the ArchDaily Form  https://www.archdaily.com/990311/gender-discrimination-on-construction-sites-fill-the-archdaily-form

• Mica levy on construction set to be reduced from 10%  https://www.thetimes.co.uk/article/mica-levy-on-construction-set-to-be-reduced-from-10-mnlq6sx27

• Concrete block levy to go ahead in modified form in Finance Bill  https://www.irishtimes.com/ireland/housing-planning/2022/10/14/concrete-levy-to-go-ahead-in-modified-form-in-finance-bill/

• Builders demand reassessment of concrete levy: Construction Industry Federation dubs proposed tax an ‘unfair blunt instrument’ https://www.irishtimes.com/business/2022/10/14/builders-demand-assessment-of-concrete-levy/

• Concrete levy ‘is dead’, say backbench TDs after crunch meeting: One Fianna Fáil TD said the concerns over the levy were presented to the housing minister, and he was “very much in agreement with us”.  https://www.irishexaminer.com/news/politics/arid-40981439.html

• Government to rethink concrete block levy after backlash from building industry: no Developers claimed charge could delay building projects or increase the cost of homes https://www.businesspost.ie/politics/government-to-rethink-concrete-block-levy-after-backlash-from-building-industry/

• Renewed focus on safety in construction industry  https://www.nenaghguardian.ie/2022/10/15/renewed-focus-on-safety-in-construction-industry/

• Unviable build-to-rent schemes could be converted to cost-rental homes, Dublin City Council chief says: Developers unable to afford to complete projects represent an opportunity for local authorities, Owen Keegan claims  https://www.irishtimes.com/politics/2022/10/11/unviable-build-to-rent-schemes-could-be-converted-to-cost-rental-homes-dublin-city-council-chief-says/

• Dublin City Council considers legal action against An Bord Pleanála over build-to-rent scheme: Council planners urged board to reject plan for five six-storey apartment blocks at Jamestown Road industrial estate  https://www.irishtimes.com/ireland/dublin/2022/10/13/dublin-city-council-considers-legal-action-against-an-bord-pleanala-over-build-to-rent-scheme/

• Ireland’s First Civil Engineering Apprenticeship’s to bridge engineers shortfall  https://irishbuildingmagazine.ie/2022/10/11/irelands-first-civil-engineering-apprenticeships-to-bridge-engineers-shortfall/

• Permission for Dublin’s tallest building refused by city council: City Quay scheme of 24 storeys would ‘seriously detract’ from surrounding area, local authority said  https://www.irishtimes.com/business/2022/10/12/council-refuses-permission-for-dublins-tallest-building/

• An Bord Pleanála concedes in challenges to permission for 1,000 homes in Dublin and Kildare: Residents took High Court cases over approval of apartment schemes in Killiney, Blackrock and Clane  https://www.irishtimes.com/crime-law/courts/2022/10/10/an-bord-pleanala-concedes-in-challenges-to-permission-for-1000-homes-in-dublin-and-kildare/

• Kilternan Country Market site seeks €1.6m as land set for redevelopment. Operators will consider trading from facility at weekends until new owner secures planning permission  https://www.irishtimes.com/property/commercial-property/2022/10/12/kilternan-country-market-site-seeks-16m-as-land-set-for-redevelopment/

• Cork event centre construction will not start before year end: The delay is also expected to push back the projected 2024 completion date  https://www.irishexaminer.com/news/munster/arid-40981973.html

• Plan to knock old industrial buildings and construct apartment blocks at Spring Lane site: The potential development would see 32 one-bed and 32 two-bed homes built at the site  https://www.corkbeo.ie/news/property/plan-knock-old-industrial-buildings-25258291

• Green light for 200 homes near Tower: ABP has now given the go-ahead to the majority of the proposed residential units but has refused planning to the proposed two-storey cafe building with a cafe on the ground floor and two apartments at first floor level https://www.echolive.ie/corknews/arid-40983134.html

• Eli Lilly receives permission for €400m Limerick plant  https://amp.rte.ie/amp/1328815/

• Irish development and growth capital fund manager Development Capital has made a “significant” investment in Wogan Build Centre, a building material distributor based in Drogheda in Co Louth. https://www.rte.ie/news/business/2022/1010/1328171-development-capital-invests-in-wogan/

• AN eight-unit housing project in Cross, to be developed by Mayo County Council, has been granted planning permission.  https://www.con-telegraph.ie/2022/10/12/go-ahead-for-eight-house-council-project-in-cross/

• Creditor appoints receiver to one of developer Greg Kavanagh’s companies: Developer maintains agreement is in place to resolve dispute https://www.irishtimes.com/business/2022/10/13/creditor-appoints-receiver-to-one-of-developer-greg-kavanaghs-companies/

• Labourer awarded €35,000 after lacerating arm on Dublin building site: Darren Strawbridge sued Barnmore Demolition and Civil Engineering after cutting himself on shard of glass when climbing through window  https://www.irishtimes.com/crime-law/courts/2022/10/12/labourer-awarded-35000-after-lacerating-arm-on-dublin-building-site/

• Cosgrave firm ordered to provide €3 million security for defendants’ legal costs in James Street hotel dispute: The judge said the issue of costs in the legal system is a matter of “considerable concern” to anyone who wants true justice  https://www.irishtimes.com/business/2022/10/12/cosgrave-firm-ordered-to-provide-3-million-security-for-defendants-legal-costs-in-james-street-hotel-dispute/

• Winthrop boss faces second $8m claim in fall out from HKRME deal: Pre-trial deal struck, if Ryan won his case against Barry English, the estate would get at least $500,000. But that all changed when the High Court made findings of dishonesty.https://thecurrency.news/articles/98624/the-point-of-fracture-winthrop-boss-faces-second-8m-claim-in-fall-out-from-hkrme-deal/

• Glenveagh Properties PLC’s CEO, Stephen Garvey, is named amongst Ireland’s best CEOs  https://extra.ie/2022/10/13/business/100-best-ceos-ireland

• Bridgewater shorts €130m worth of CRH shares: Irish construction materials company continues to perform strongly despite a drop in its share price – and Ray Dalio’s hedge fund’s bet against it  https://www.businesspost.ie/news/bridgewater-shorts-e130m-worth-of-crh-shares/

PROPTECH, ESG, MMC & CONSTRUCTION INNOVATION

• Proptech Ireland is updating the database of 2022 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

• Irish Startup Funding & Global Proptech Investment – Proptech Ireland https://prop-tech.ie/irish-startup-funding-global-proptech-investment/

• RentDodo aims to digitise Irish property rentals  https://aimgroup.com/2022/10/14/rentdodo-aims-to-digitise-irish-property-rentals/ [listen back to the founder interview on the Proptech Hot Seat on iPropertyRadio]

• The RIAI Design for Manufacture and Assembly (DfMA) guidance was launched at the RIAI Conference 🔗https://www.riai.ie/whats-on/news/riai-design-for-manufacture-and-assembly-dfma-guidance

• LEED pioneer takes helm at USGBC | PlaceTech https://placetech.net/news/leed-pioneer-takes-helm-at-usgbc/

• Powerproject shows building companies the next smart move  https://constructionmanagement.co.uk/elecosoft-powerproject/

• Five lessons from the first Platinum AirScore UK office  https://placetech.net/strategy/five-lessons-from-the-first-platinum-airscore-uk-office/

• Standing at the Intersection of Proptech’s Future: “All SaaS products are not the same. They need to be able to plug and play together.” https://www.globest.com/2022/10/14/standing-at-the-intersection-of-proptechs-future/

• CREtech New York Draws Notable Names and Some Cool Tech  https://commercialobserver.com/2022/10/cretech-new-york-draws-notable-names-and-some-cool-tech/

• PropTech Sector Sees Growing M&A Interest as Macro Trends Reshape Real Estate Market https://www.williamblair.com/Insights/PropTech-Sector-Sees-Growing-Interest-as-Macro-Trends-Reshape-Real-Estate-Market

• What is Proptech and How It Transformed the Real Estate Industry: https://www.digitaljournal.com/pr/what-is-proptech-and-how-it-transformed-the-real-estate-industry#ixzz7hopXHgMh  https://www.theexpresswire.com/pressrelease/What-is-Proptech-and-How-It-Transformed-the-Real-Estate-Industry_17934040

• Can proptech disrupt real estate in emerging markets?  https://oxfordbusinessgroup.com/news/can-proptech-disrupt-real-estate-emerging-markets

• Why is proptech being used to make housing less affordable? Housing fills a basic human need, so why is proptech being used to enrich the few rather than to benefit the many?  https://www.inman.com/2022/10/13/why-is-proptech-being-used-to-make-housing-less-affordable/

• Proptech startup founders and VCs dissect the overwhelming sense of doom about raising capital right now: ‘Some folks are feeling that it’s really, really bad’  https://www.businessinsider.com/proptech-startups-vcs-funding-raising-money-problems-slowdown-2022-10

• Proptech company Plot-Z introduces AI tools for asset managers to scale operations effectively https://www.prnewswire.com/news-releases/proptech-company-plot-z-introduces-ai-tools-for-asset-managers-to-scale-operations-effectively-301646958.html

• See the Pitch Deck Proptech Startup Fintor Used to Raise $9 Million https://www.businessinsider.com/fintor-pitch-deck-proptech-startup-used-to-raise-9-million-2022-10

• Climate Alpha Aims to Mitigate Climate Risk for Developers and Investors: Proptech startup uses AI to assess regional environmental threats around the world  https://commercialobserver.com/2022/10/climate-alpha-investors-developers/

• Got $5? These startups allow for investments in slices of real estate  https://techcrunch.com/2022/10/14/got-5-these-startups-allow-for-investments-in-slices-of-real-estate/

CLIMATE & ENVIRONMENT

• ‘We are trying to be more aware of how we use our heating and electricity in the home’  https://m.independent.ie/business/personal-finance/we-are-trying-to-be-more-aware-of-how-we-use-our-heating-and-electricity-in-the-home-42068306.html

• SEAI tighter grant scheme leaves lower-income households out in the cold: Homeowners now face €4,000 insulation costs upfront rather than having builder claim back grant for them, meaning many can’t afford to do work  https://www.businesspost.ie/politics/seai-tighter-grant-scheme-leaves-lower-income-households-out-in-the-cold/

• Government formally submits application for second emergency power station in Dublin: The proposed Huntstown facility is expected to provide approximately 50 megawatts to the Irish grid.  https://www.thejournal.ie/emergency-power-station-dublin-5892254-Oct2022/

• Councils asked to develop transport projects to help meet climate goals: A programme supporting local projects to help meet the transport sector’s climate goals is set to launch next week  https://www.thejournal.ie/sustainable-transport-pathfinders-programme-climate-5892143-Oct2022/

• Ireland’s carbon targets cast adrift by inaction over wind turbines: After once leading the continent on offshore turbines, how did we fall so far behind?  https://www.thetimes.co.uk/article/irelands-carbon-targets-cast-adrift-by-inaction-over-wind-turbines-ksqkq0f3n

• Proposed ‘hydrogen valley’ at the Port of Galway will be a “game changer for the West”: The hydrogen hub, known as ‘GH2’, will be used for research and the production and supply of clean, green, hydrogen fuel for public and private vehicles https://connachttribune.ie/hydrogen-valley-will-be-a-gamechanger-for-galway-and-the-west-region/

• Solar energy technologies will be ‘pivotal’ for buildings  https://www.agriland.ie/farming-news/solar-energy-technologies-will-be-pivotal-for-buildings-mep/

• These mini wind turbines are designed for rooftops: Because they sit on the edge of roofs, they pair well with solar panels. If a building also has batteries to store the energy, it could be totally self-sufficient https://www.fastcompany.com/90795445/these-mini-wind-turbines-are-designed-for-rooftops

RESIDENTIAL PROPERTY NEWS (including PRS)

• *INSTITUTIONAL funds ‘best landlords’, says tenancies board chief  https://www.irishexaminer.com/news/arid-40983044.html  [*incorrect terminology removed]

• Property prices surge past Celtic Tiger record highs: August prices increased for the 24th consecutive month while there was a cooling in annual growth  https://m.independent.ie/business/personal-finance/property-mortgages/property-prices-surge-past-celtic-tiger-record-highs-42065870.html

• Slowest quarterly house price growth in Dublin since early 2021: Price growth continues to be stronger outside the capital, with average values nationally rising 1.3 per cent in the third quarter  https://www.businesspost.ie/property/slowest-quarterly-house-price-growth-in-dublin-since-early-2021/

• Stock of second-hand homes for sale drops by 26% in three years  https://www.breakingnews.ie/amp/ireland/housing-stock-drops-by-26-per-cent-in-three-years-1375329.html

• Collapse in number of properties on rental market since pandemic laid bare in new report: Threshold/Citizens Information Board study says just 716 homes available to rent in August, down from average of 9,300 before pandemic  https://www.irishtimes.com/ireland/2022/10/13/reports-reveals-scale-of-collapse-in-number-of-properties-on-rental-market-since-pandemic/

• New housing requires new ways of thinking: Apartments are too costly to deliver and unpopular with buyers who want own-door homes with a garden  https://www.irishtimes.com/business/2022/10/10/new-housing-requires-new-ways-of-thinking/

• Ingka Investments to invest €100m in Social Housing Projects in Dublin  – IrishRealEstate.news  https://www.irishrealestate.news/ingka-investments-to-invest-e100m-in-social-housing-projects-in-dublin/

• Finance Ireland climbs down on move that threatened to scupper house-buying plans  https://m.independent.ie/business/personal-finance/property-mortgages/finance-ireland-climbs-down-on-move-that-threatened-to-scupper-house-buying-plans-42055323.html

• Homeowners with variable-rate mortgages urged to switch now to fixed rates at near record low  https://m.independent.ie/business/personal-finance/property-mortgages/homeowners-with-variable-rate-mortgages-urged-to-switch-now-to-fixed-rates-at-near-record-low-42062921.html

• Bank of Ireland and PTSB ‘to match AIB’s mortgage rate hike within days’, say experts  https://m.independent.ie/business/personal-finance/property-mortgages/bank-of-ireland-and-ptsb-to-match-aibs-mortgage-rate-hike-within-days-say-experts-42068486.html

• Tenancy termination and rental hikes among biggest fears for renters, report finds: The research was conducted by housing charity Threshold.  https://www.thejournal.ie/tenants-fears-threshold-report-5892056-Oct2022/

• Tenants bidding against each other for limited accommodation is raising rents, RTB chair says: He was criticised for saying renters should pay more for accommodation provided by institutional landlords as it provides security of tenure.  https://www.thejournal.ie/tenants-bidding-against-each-other-limited-accommodation-rent-rtb-chair-5893865-Oct2022/

• Eviction ban would be ‘highly discriminatory’, says property owners group  https://www.breakingnews.ie/amp/ireland/eviction-ban-would-be-highly-discriminatory-says-property-owners-group-1375224.html

• Students to walk out in protest at accommodation, cost-of-living crisis  https://www.rte.ie/news/ireland/2022/1012/1328850-student-protest/

• 50 termination notices issued recently in Mullingar alone  https://www.westmeathexaminer.ie/2022/10/11/50-termination-notices-issued-recently-in-mullingar-alone/

• People renting a room ‘effectively have no rights’, housing charity says: ‘Paradox’ in rent-a-room tax breaks compared to small landlords, Threshold says  https://www.irishtimes.com/ireland/housing-planning/2022/10/13/people-renting-a-room-effectively-have-no-rights-housing-charity-says/

• Fine Gael may seek increase in income thresholds for social housing eligibility: Sources in the party this week spoke of increasing nervousness over the housing crisis  https://www.irishtimes.com/ireland/housing-planning/2022/10/15/fine-gael-may-seek-increase-in-income-thresholds-for-social-housing-eligibility/

• Launch of new development in Mullingar  https://www.westmeathexaminer.ie/2022/10/12/dng-duncan-launch-saunders-bridge-development/

• Most expensive properties sold in Kilkenny https://www.kilkennypeople.ie/story-telling/property/937875/new-top-20-most-expensive-properties-sold-in-kilkenny-in-q2-2022.html

• Home: Four leading Irish interior designers share their key ideas – Eve Kelliher discovers what the pros love about their own homes and what they’d like to see in their dream living spaces   https://www.irishexaminer.com/property/homeandgardens/arid-40984013.html

• The financial pitfalls of owning a holiday home in an era of rising prices and taxes: A new vacant homes tax, rising mortgage repayments and soaring energy and fuel bills can turn your dream retreat into a financial nightmare  https://m.independent.ie/business/personal-finance/property-mortgages/the-financial-pitfalls-of-owning-a-holiday-home-in-an-era-of-rising-prices-and-taxes-42068287.html

• Home improvements: ‘Do your research before your renovate, it’ll save you money and worry,’ experts warn  https://m.independent.ie/business/personal-finance/property-mortgages/home-improvements-do-your-research-before-your-renovate-itll-save-you-money-and-worry-experts-warn-42056331.html

• Recreated cottages and reimagined Georgian houses open their doors: What’s on offer during Open House Dublin  https://www.irishexaminer.com/property/homeandgardens/arid-40979951.html

• HUNDREDS of residents of a Cork City suburb have taken a case against a landlord seeking compensation over claims he did not address alleged “criminal activity” and antisocial behaviour of his tenants over a period of years.  https://www.echolive.ie/corknews/arid-40981451.html

• Cloghroe home comes with site options that may interest developers  https://www.irishexaminer.com/property/residential/arid-40983512.html

• 40 houses bought by Kerry County Council under the Buy and Renew Scheme  https://www.radiokerry.ie/news/40-houses-bought-by-kerry-county-council-under-the-buy-and-renew-scheme-300919

• Criticism of ‘outrageous’ inclusion of holiday homes in emergency energy credit scheme: Opposition TDs say failure to target scheme means Government will be paying to keep the lights on for some of Ireland’s richest https://www.irishtimes.com/politics/oireachtas/2022/10/11/criticism-of-outrageous-inclusion-of-holiday-homes-in-emergency-energy-credit-scheme/

• How a landmark Dublin 8 church has become four city homes: Kingsland is the last of the ‘rebooted D8’ churches to be repurposed  https://m.independent.ie/life/home-garden/how-a-landmark-dublin-8-church-has-become-four-city-homes-42065101.html

• Dermot Bannon’s Incredible Homes is filled with lightbulb moments: Visiting spectacular homes around the world was the architect’s dream project — and it’s changed the way he thinks about design  https://www.thetimes.co.uk/article/dermot-bannon-s-incredible-homes-is-filled-lightbulb-moments-ndvm3h5r8

• Meet the agent: Lorraine Mulligan: More by accident than design, Lorraine Mulligan of Re/Max Results Team has an all-female team who she says are more like sisters than employees https://www.businesspost.ie/property/meet-the-agent-lorraine-mulligan/

COMMERCIAL PROPERTY NEWS

• Value of Irish property deals this year close to record levels: Record of 2019 could even be exceeded, but the final figure for the year will depend on whether some large deals conclude and at what price  https://www.businesspost.ie/property/value-of-irish-property-deals-this-year-close-to-record-levels/

• Insolvency looms for small hoteliers in Ireland as costs rocket: Up to 40 regional businesses will default on loans next year amid falling profits, expert predicts https://www.thetimes.co.uk/article/insolvency-looms-for-small-hoteliers-in-ireland-as-costs-rocket-jk9mwcrqd

• Take-up of office space in Dublin between July and September was 78% higher than the average during the same period over the last decade. https://amp.rte.ie/amp/1328105/

• Owners of environmentally-unfriendly offices are in for a rollercoaster ride: Many of Dublin’s buildings are on their way to becoming ‘stranded assets’ as new ESG standards come into play https://www.irishtimes.com/property/commercial-property/2022/10/12/owners-of-environmentally-unfriendly-offices-are-in-for-a-rollercoaster-ride/

• Lord Edward Street office investment at €8.8m offers buyer 6.1% yield: 68% of landmark building’s €589,498 annual rental income is underpinned by local authority/government-backed tenants https://www.irishtimes.com/property/commercial-property/2022/10/12/lord-edward-street-office-investment-at-88m-offers-buyer-61-yield/

• Northbrook Clinic offers investors defensive opportunity at €5m: Well-known Dublin 6 medical facility comes for sale fully let and producing annual rental income of €330,000  https://www.irishtimes.com/property/commercial-property/2022/10/12/northbrook-clinic-offers-investors-defensive-opportunity-at-5m/

• Paddy McKillen Jr’s Oakmount sells Thomas St building for over €13m  https://m.independent.ie/business/commercial-property/paddy-mckillen-jrs-oakmount-sells-thomas-st-building-for-over-13m-42059002.html

• Judgment on Bewley’s Harry Clarke windows is delayed: Judge says he now hopes to rule in December on the disputed ownership of the stained glass windows in the historic Grafton Street café  https://www.businesspost.ie/news/judgment-on-bewleys-harry-clarke-windows-is-delayed/

• O’Flynn Group confirms ‘having a look’ at for-sale Debenhams in Cork  https://www.irishexaminer.com/property/commercial/arid-40982228.html

• Planet takes space in the last floor left in Bonham Quay Campus: Software and payments company joins an existing line of tenants in Phase 1 of building, including Genesys International, Diligent Corporation and Signify Health  https://www.businesspost.ie/property/planet-takes-space-in-the-last-floor-left-in-bonham-quay-campus/

• New twist in rent dispute over fast food restaurant in Limerick  https://www.limerickleader.ie/news/home/937626/new-twist-in-rent-dispute-over-fast-food-restaurant-in-limerick.html

• Waterford lots could appeal to investors and developers  https://m.independent.ie/business/commercial-property/waterford-lots-could-appeal-to-investors-and-developers-42062422.html

•  Argos to close Kilkenny outlet early next year: Parent company Sainsbury’s says their decision’s due to a range of factors  https://kclr96fm.com/argos-to-close-kilkenny-outlet-early-next-year/

• Private investors acquire Gorey Shopping Centre for €9.35m: Wexford scheme had been under ownership of US investment group Davidson Kempner since 2015  https://www.irishtimes.com/property/commercial-property/2022/10/12/private-investors-acquire-gorey-shopping-centre-for-935m/

• Former Bank of Ireland branch up for sale  https://www.offalyindependent.ie/2022/10/12/former-bank-of-ireland-branch-up-for-sale/

• The Red Rose Cafe Of Co. Longford Hits The Market  https://www.hospitalityireland.com/amp/restaurant/the-red-rose-cafe-of-co-longford-hits-the-market-193784

• ‘Dilapidated historical warehouse’ in Carrickmacross to become apartment block  https://www.northernsound.ie/news/dilapidated-historical-warehouse-in-carrickmacross-to-become-apartment-block-203225

• An abandoned hotel in Kerry: How investors’ plans went wrong – In Waterville, a long-favoured holiday spot for golfers, one historic hotel fell behind the times. Its fate has now been decided in the High Court between a London businessman and a Kerry loca https://thecurrency.news/articles/98299/an-abandoned-hotel-in-kerry-how-investors-plans-went-wrong/

• The former Pocotel hotel in Glasgow city centre has been sold from administration from a guide price of £4.5 million to The Address Collective, which has three hotels in the Republic of Ireland  https://www.heraldscotland.com/business_hq/23044179.former-pocotel-hotel-glasgow-sold-address-collective/?ref=rss

• Gen Z is driving most workplace trends. But there’s a good reason we should be listening to millennials and boomers instead https://fortune.com/2022/10/05/gen-z-versus-millennials-boomers-driving-most-workplace-trends/

INTERNATIONAL PROPERTY NEWS

• Glenn Howells Architects completes Birmingham’s tallest residential tower https://www.architectsjournal.co.uk/buildings/glenn-howells-architects-completes-birminghams-tallest-residential-tower 

• Property portal is no longer the right move  https://www.thetimes.co.uk/article/property-portal-is-no-longer-the-right-move-gzq806mrk

• UK’s biggest house builder Barratt revealed that weekly reservation rates had dropped by over a third against last year’s average. https://www.constructionenquirer.com/2022/10/12/barratt-reservation-rates-fall-by-more-than-a-third/

• 21st Century Houses book captures “best of the best” modern British homes  https://www.dezeen.com/2022/10/14/ten-projects-21st-century-houses-book/amp/

• New Methods for Big Challenges: Architecture and Extreme Environments  https://www.dezeen.com/2022/10/12/copenhagen-architecture-festival-exhibition-responds-to-ridiculous-big-budget-building-projects/

• ‘Madness’ over: house prices drop almost 6% in three months  https://www.dutchnews.nl/news/2022/10/madness-over-house-prices-drop-almost-6-in-three-months/

• US Rent Growth Is Slowing, But Housing Won’t Be Affordable Anytime Soon  https://www.bisnow.com/national/news/affordable-housing/rent-growth-is-slowing-but-housing-wont-be-affordable-any-time-soon-115816

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/