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News : Property Last Updated: Oct 9, 2015 - 12:32 AM

News : Property

Irish House Prices 2014: In the year to September, residential property prices at a national level, increased by 15.0%. This compares with an increase of 14.9% in August and an increase of 3.6% recorded in the twelve months to September 2013. Price rises in Dublin eased to 23.4%.

Oct 22, 2014 - 12:16 PM

News : Property

The latest construction PMI (purchasing managers' index) shows the highest monthly rise in the index in September since the series began in June 2000. However journalists and others are confused by this type of survey.

Oct 13, 2014 - 7:43 AM

News : Property

In Ireland agricultural land is claimed to be the most expensive in the world and houses prices in Dublin are up an average 25% in a year while in some areas of the capital they have jumped by a third -- the explanations for both are shortages of supply.

Oct 8, 2014 - 7:09 AM

News : Property

New Irish mortgage rules published today by the Central Bank mean that from next January most house buyers will need to have a 20% deposit when applying for a home loan.

Oct 7, 2014 - 3:25 PM

News : Property

Dysfunctional is a polite term for the development land systems in the UK and Ireland - at least in the UK there are 64m people compared with 4.6m in the Republic of Ireland.

Oct 7, 2014 - 8:40 AM

News : Property

Irish House Prices: The average asking price for a house in Ireland has risen by 14% over the past year, led by an average rise of 25% in Dublin, according to the 2014 Q3 House Price Report released today by Ireland's biggest property website Daft.ie. The average asking price nationwide is now €195,000, compared to €170,000 a year ago and €380,000 at the peak.

Oct 6, 2014 - 8:39 AM

News : Property

The total amount of capital invested in Irish commercial property was higher in the third quarter than any other quarter in history, according to Jones Lang LaSalle's (JLL) investment property report for Q3 2014. In the last 3 months, €1.15bn of property was purchased by investors, with total volumes for the year-to-date now up to almost €3bn the report says that with one quarter left in the year, "we are just €600m behind the peak of the investment market in 2006, when €3.6bn of Irish property was traded."

Oct 1, 2014 - 5:42 AM

News : Property

In the year to August, residential property prices at a national level, increased by 14.9%. This compares with an increase of 13.4% in July and an increase of 2.8% recorded in the twelve months to August 2013. Dublin prices surges by 25.1%.

Sep 24, 2014 - 4:06 PM

News : Property

Dublin prime office rents in mid-2005 were the seventh highest in the world according to CB Richard Ellis and following a plunge of more than two-thirds in the value of Irish commercial property during the economic bust, office rents in the Irish capital are set to return to the ranks of the most expensive in the Europe, Middle East, Africa (Africa) region.

Sep 16, 2014 - 7:51 AM

News : Property

A study of the Dublin property market shows that the number and value of transactions rose in all but two areas of Dublin in the first six months of 2014. Based on an analysis of the Property Price Register, Dublin 6 was the most popular postcode area to buy a property with 346 sales recorded between in H1 2014 -- up 76% on 197 sales in the same period last year.

Sep 11, 2014 - 6:51 AM

News : Property

Today's PMI (purchasing managers index) data on the Irish construction sector that is produced by Markit, the London index firm for Ulster Bank, shows another sharp expansion in August, with activity increasing in each month throughout the past year and confidence at a near-record high - - however, this data is unusual as there is neither information on the response rate or the number of panel firms and we assume that it's a small number.

Sep 8, 2014 - 8:27 AM

News : Property
The Irish Banking Federation has published the latest figures from the IBF Mortgage Approvals Report today, which shows that 22,400 mortgages were approved in the 12 months to July 2014, which is the lowest since 1974 when 20,800 were approved. A total of 2,555 were approved on average in the three months to July.
Aug 28, 2014 - 11:26 AM

News : Property
Irish House Prices: In the year to July, residential property prices at a national level, increased by 13.4%.  This compares with an increase of 12.5% in June and an increase of 2.3% recorded in the twelve months to July 2013. Dublin house prices rose 23.2% while Rest of Ireland prices gained 4.9%.
Aug 27, 2014 - 11:46 AM

News : Property
According to a new housing report published today by the Society of Chartered Surveyors Ireland, cash purchases accounted for about 35% of transactions in the second quarter of the year, from 50% in Q1.
Aug 26, 2014 - 9:07 AM

News : Property
There are almost 40% fewer Irish properties available to rent compared to this time last year according to the latest quarterly Rental Report by Daft.ie. Nationally, rents have risen by over 10% in the space of twelve months with the national average rent now €915 compared to €825 a year previously.
Aug 19, 2014 - 8:09 AM

News : Property
A total of 4,803 Irish home mortgage loans were drawn down in Q2 2014 according to the Irish Banking Federation. In the period July 2013- June 2014 the number of  loans issued was at 18,016 just short of the total of 18,313 in 1974.
Aug 12, 2014 - 1:11 PM

News : Property
The monthly Irish Construction PMI reports shows that the rate of growth in new business quickened sharply to the strongest since November 2004 and the pace of job creation picked up. This however is a misleading claim.
Aug 11, 2014 - 7:37 AM

News : Property
An article published today in the Economic and Social Research Institute's (ESRI) latest Quarterly Economic Commentary updates earlier analyses of Irish house price movements. 'Bubble, Bubble, Toil and Trouble,' by Dr Kieran McQuinn, shows that Irish house prices at end of December 2013 were  undervalued by up to 27%, and in the absence of a significant housing supply response, are likely to continue to increase in the coming years.
Aug 7, 2014 - 6:13 AM

News : Property

A research note published today by the ESRI (Economic and Social Research Institute), summarises recent research on the impact of projected population change on housing demand at the county level. It forecasts that up to 60,000 new housing units will be needed in the Dublin area by 2021.

Aug 6, 2014 - 4:20 PM

News : Property
Ireland: A research note published today by the ESRI (Economic and Social Research Institute), examines the factors which lead young Irish people (between ages 20 and 39) to form an independent household and which also determine whether they choose to rent or to buy. The note shows that about 20,000 more young people moved from parents’ homes in 2011 compared to 2006 -- however with rising rents in Dublin in particular in recent times, the pattern has reversed and the propensity to buy has risen.
Jul 30, 2014 - 2:04 AM

News : Property
Irish House Prices 2014: In the year to June, residential property prices at a national level, increased by 12.5%.  The CSO says this compares with an increase of 10.6% in May and an increase of 1.2% recorded in the twelve months to June 2013. Dublin prices rose 24.4% in 12 months to June. Conall Mac Coille of Davy says: "Cash buyers continue to drive the market, squeezing out first-time buyers who are clearly struggling to acquire properties amidst weak housing construction and low mortgage lending.
Jul 24, 2014 - 1:52 PM

News : Property
Irish Interest-Only Mortgages: In 2006 we asked the Central Bank for data on interest-only (IO) mortgages but no data was requested from banks. Today the bank published an economic letter in which it warns of the danger of mainly BTL (buy-to-let) mortgages from the period 2005-2008 seeing an end to the interest-only period in coming years.
Jul 16, 2014 - 3:39 PM

News : Property
Insolvency Service of Ireland, the public agency for supervising deals between defaulting mortgage holders and Irish banks, appears to be "on a slow boat to China" with a process where only 27 deals were agreed in Q2 2014.
Jul 15, 2014 - 7:56 AM

News : Property
A further expansion in Irish construction activity was recorded in June, extending the current sequence of growth to ten months. The latest rise was supported by sharp new order growth, which also led to increases in employment and purchasing activity. Meanwhile, the rate of input cost inflation remained solid despite easing from that seen in May. However, we must assume that the firm sample is small as it's not disclosed.
Jul 14, 2014 - 9:27 AM

News : Property
With Dublin house prices rising by 22% in May, the office prices in the capital are also climbing towards the danger zone.
Jul 4, 2014 - 7:21 AM

News : Property
More houses have come on the Irish market for sale in the past three months than in any previous quarter since 2008, according to the House Price Report released today by Ireland's biggest property website Daft.ie. Almost 15,000 properties came to market between April and June as the national average asking price rose 9% from the same period last year. The average asking price nationwide is now €187,000, compared to €171,000 a year ago and €380,000 at the peak.
Jul 1, 2014 - 7:54 AM

News : Property
In a sign that the price recovery in the property market is gaining momentum, asking prices in Dublin continue to increase this quarter while price growth has also extended to the national market. The mix adjusted average asking price in Dublin increased by 4.5% in Q2 2014, the largest increase since Q1 2006.
Jun 30, 2014 - 4:02 AM

News : Property
Irish Home Prices 2014: Dublin prices surged 22% in 12 months to May and jumped 4.2% in the month. Meanwhile, the CSO said today that residential property prices at a national level, increased by 10.6%. This compares with an increase of 8.5% in April and a decrease of 1.1% recorded in the twelve months to May 2013.
Jun 25, 2014 - 11:36 AM

News : Property
Irish commercial property sales  in the first half of the year are at €1.7bn according to Jones Lang LaSalle (JLL). The largest transaction was Project Sapphire, which Green REIT purchased in June. JLL acted for Cosgraves, the vendor for the sale, which totalled €375m and included 3 assets: George’s Quay, George’s Court and Westend Retail Park.
Jun 24, 2014 - 4:06 PM

News : Property
New research by Savills, the property consultants, shows that Dublin has experienced the fastest growth in net effective rents among 21 European office markets over the last year. Effective rents in Dublin have increased by 39.3% in the last 12 months, compared with an average of 5.1% across Europe.
Jun 23, 2014 - 1:47 PM

News : Property
Commercial property values in the UK rose by 1.1% in May, a further increase on the 0.8% growth seen in April, marking the highest monthly increase of 2014 to date.
Jun 18, 2014 - 8:20 AM

News : Property
Rents in Dublin rose ten times the level outside the capital in the 12 months to end of March 2014 according to the quarterly Private Residential Tenancies Board (PRTB)/ESRI Rent Index. Meanwhile as reported last week, there were 39,250 BTL accounts in arrears in Q1 2014 and 70% of the loans are tracker mortgages - - repayments are set to fall again after last week's ECB rate cut.
Jun 11, 2014 - 7:40 AM

News : Property
The recovery in the Irish construction sector continued in May. Although rates of expansion in activity, new orders and employment all eased from the highs seen in the previous month, they remained strong and companies were again optimistic regarding growth over the coming year. A marked acceleration in the rate of input cost inflation was recorded as suppliers took advantage of improved demand for inputs to raise their charges. The Ulster Bank Construction Purchasing Managers’ Index (PMI) – a seasonally adjusted index designed to track changes in total construction activity – posted 60.2 in May, down from the previous month’s reading of 63.5 but still pointing to a sharp increase in total construction activity. Activity has now risen in each of the past nine months, with the latest expansion linked to higher workloads and improving confidence.
Jun 9, 2014 - 2:25 AM

News : Property
The number of mortgage accounts  for principal dwelling houses (PDH) in arrears for over 90 days dropped for the third straight quarter in a row in the three months to the end of March 2014, data from the Central Bank today show. However the numbers of arrears for 720 days or more rose 5% in the first quarter to 35,314 mortgage accounts were in arrears for over 720 days - - with an outstanding balances of €7.4bn. Meanwhile, a total of 39,361 BTL (buy-to-let) accounts were in arrears.
Jun 5, 2014 - 12:24 PM

News : Property
New single-family US homes are getting bigger to meet demand from well-off people but fewer single homes are being built resulting in a drag on the economy.
Jun 3, 2014 - 6:12 AM

News : Property
Irish House Prices 2014: In the year to April, residential property prices at a national level, increased by 8.5%.  This compares with an increase of 7.8% in March and a decrease of 1.2% recorded in the twelve months to April 2013. Dublin prices rose 3.1% in the month and are up 17.8% in 12 months.
May 28, 2014 - 11:58 AM

News : Property
A new report on the land market shows that land prices increased in 2013 and activity levels are up 5% in the first quarter of 2014. Prices rose highest in Munster.
May 27, 2014 - 9:16 AM

News : Property
With the UK unemployment rate down to 6.8%, the Bank of England is eager to keep the base rate unchanged at 0.5% -- the lowest since the central bank was founded in 1694 -- until the current economic recovery becomes sustainable.
May 19, 2014 - 6:09 AM

News : Property
Dublin Housing Crisis: The "construction strategy" launched by the Government on Wednesday is a cobbling together of input from various people that results in a 75 item laundry list, which is a detail of aspirations not a strategy.
May 15, 2014 - 8:17 AM

News : Property
Irish Construction: Enda Kenny, taoiseach and Eamon Gilmore, tánaiste, this afternoon announced a package of measures to stimulate activity in the construction industry and boost local and European election prospects, just with over a week to polling day on Friday, May 23rd. The taoiseach promised "a world-class, competitive and dynamic sector operating to the highest standards and in line with best practice."
May 14, 2014 - 4:37 PM

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