||Last Updated: Oct 9, 2015 - 12:32 AM
The EBS today released its latest EBS DKM Affordability Index showing that the Irish national housing affordability level for first time buyers remains stable at 19.3% of net income for a working couple purchasing the average property. This figure is forecasted to rise to 19.6% in the next month. While affordability is now at levels last seen by the end of 2008, it is still well below the peak level of 26.4% of net income for a working couple in December 2006, as falling interest rates and prices more than offset a rise in personal taxes.
May 14, 2014 - 12:34 PM
The Irish Government is set to publish a construction/ housing plan today -- just over a week ahead of the local and European elections.
May 14, 2014 - 7:24 AM
Months after the departure of the international bailout Troika, the Irish Government through an authorised leak on Monday returned to an old electoral reliable for politicians in trouble; housing/ construction - - with a promise of a new bank guarantee and mortgages with a loan to value of up to 95%.
May 13, 2014 - 2:14 PM
Irish home mortgages paid in Q1 2014 were at the lowest since 1972 according to data issued Tuesday.
May 13, 2014 - 1:24 PM
Irish House Rents 2014: The average rent nationwide is now 9% higher than it was at the same stage last year according to the latest quarterly Rental Report by Daft.ie. Rents rose in every county outside Connacht & Ulster, with the biggest annual increase of 14% occurring in Dublin city centre. The average rent nationwide is now €888, up €69 from the trough in 2011.
May 12, 2014 - 8:00 AM
The Irish construction sector continued its recent run of strong expansion in April as growth of activity and new business both reached multi-year highs. Firms responded to increased workloads by raising their staffing levels at one of the fastest rates in the series history. Meanwhile, business confidence improved to the strongest since the survey began in June 2000. No data on the number of firms polled for the purchasing managers’ index (PMI) survey was released, which suggests that it's too small to reveal.
May 12, 2014 - 7:21 AM
Irish House Prices 2014: In the year to March, residential property prices at a national level, increased by 7.8%. This compares with an increase of 8.1% in February and a decrease of 3.0% recorded in the twelve months to March 2013. Dublin prices are up by 14.3% in the 12 months.
Apr 30, 2014 - 4:13 PM
Research by Central Bank of Ireland economists shows that most Irish buy-to-let (BTL) mortgages in arrears have been funded by tracker mortgages that have become more affordable through the financial crisis as they have been linked to plunging European Central Bank (ECB) interest rates.
Apr 30, 2014 - 9:51 AM
Apr 21, 2014 - 10:39 AM
From archive: In 2006, a global real estate agency compared the cost of a single-family dwelling, 2,200 square feet (approximately) -- four bedrooms, two and one-half baths, family room (or equivalent) and two-car garage in neighborhoods/zip codes within a market that is typical for corporate middle-management level families - - in 384 markets including 42 outside North America. It found that for the cost in Dublin of $1.4m (€1.1m), you could buy nine similar houses in Houston, Texas, three in Amsterdam, two in Sydney and almost two in Tokyo.
Both the Irish and UK commercial property markets have strengthened in the first quarter of 2014 with the latest JLL Irish Property Index showing overall returns at 9.1% while commercial property values in the UK rose by a further 1.0% in March, continuing the steady growth seen during the first two months of 2014. According to the IPD UK Monthly Property Index, values have now risen by 6.8% over the last 10 months of consecutive growth, although overall they still remain below their 2007 peak levels.
Apr 16, 2014 - 4:46 AM
The end of the first quarter of 2014 saw an acceleration in the rate of growth in Irish construction activity to the highest since 2006, while new orders increased at the fastest pace so far this year. Improving workloads led companies to up their rate of job creation and sentiment remained elevated. Meanwhile, the rate of cost inflation quickened to the fastest in three months. The Ulster Bank Construction PMI (purchasing managers’ index) - - a seasonally adjusted index designed to track changes in total construction activity – rose to 60.2 in March from 56.2 in the previous month, to signal a seventh successive monthly increase in construction activity. However, this panel likely includes just a small number of firms.
Apr 14, 2014 - 11:49 AM
Irish Residential Property Prices: This week Michael Noonan, finance minister, said that he wants to see house prices to rise further while downplaying fears of another property bubble in Dublin.
Apr 10, 2014 - 6:48 AM
Many Swiss dream of a house in the countryside – but the consequences are often urban sprawl and limited land availability. The targeted concentration of cities and suburbs has led to a skyscraper boom. Despite opposition and long permit processes, it seems there’s no end in sight.
Apr 8, 2014 - 2:17 AM
National Asset Management Agency (NAMA), the Irish State's toxic property loans agency, announced this morning that based on the recommendation of its adviser, Lazard, it has sold the Project Eagle portfolio of loans to affiliates of Cerberus Capital Management, L.P. (Cerberus) of the United States. The portfolio consists of loans owned by Northern Ireland-based debtors and secured by assets in Northern Ireland, the Republic, Great Britain and other European locations. The portfolio has a par value of £4.5bn (€5.4bn).
Apr 4, 2014 - 11:31 AM
Irish House Prices 2014: The average asking price for properties outside of Dublin has risen during the first quarter of 2014; the first quarterly rise since mid-2007 according to a report released today by property website Daft.ie. Nationally, the average asking price is now €177,000, up 3.5% from the same time last year and down 53% from the peak. Meanwhile, MyHome.ie's quarterly report says the mix adjusted average asking price nationally declined by 0.7% in Q1 - - the lowest rate of decline in over six years - - to now stand at €188,000.
Apr 1, 2014 - 7:56 AM
Irish home mortgage approvals in February 2014 on an annualised basis were at the lowest since 1972 - - 42-years ago, even though Ireland's population has grown by 53% in the interval - - from 3m to 4.6m.
Mar 28, 2014 - 5:02 AM
Irish House Prices 2014: In the year to February, residential property prices at a national level, increased by 8.1%. This compares with an increase of 6.3% in January and a decrease of 2.6% recorded in the twelve months to February 2013.
Mar 26, 2014 - 2:51 PM
The latest Irish Quarterly Rent Index of the Private Residential Tenancies Board (PRTB), a State agency, covering Quarter 4 of 2013, compiled by the Economic and Social Research Institute (ESRI), shows continued strong growth in Dublin Rents of 2.1% for the quarter, while outside Dublin rents in the fourth quarter dropped by 0.9%. The final quarter of the year is typically slower in the rental market, following the annual peak in quarter three.
Mar 20, 2014 - 8:21 AM
Activity in the Irish construction sector rose again during February as new order growth picked up pace according to PMI data - - this is a measure of an increase in activity from a very low base and the number of firms polled has not been disclosed. So it's likely very low.
Mar 10, 2014 - 3:33 AM
The Central Bank said today the number of Irish mortgage accounts in arrears for principal dwelling houses (PDH) fell by 3.3% to 136,564 in the fourth quarter of 2013 from 141,269 at the end of the third quarter. This represents 17.9% of the total mortgage market. However, accounts 360 days+ in arrears grew to 60,422.
Mar 4, 2014 - 1:53 PM
Irish House Prices 2014: In the year to January, residential property prices at a national level, increased by 6.3%. This compares with an increase of 6.4% in December and a decrease of 3.3% recorded in the twelve months to January 2013. In Dublin residential property prices fell by 1.3% in January and were 13.6% higher than a year ago.
Feb 27, 2014 - 2:18 PM
The total number of Irish home mortgages issued in Quarter 4 2013 was 5,206 bringing the total in 2013 to 14,985, down from 15,881 or 5.6% on 2012, according to the Irish Banking Federation today. The level in 2013 was at the lowest since 1973 - - a 40-year low.
Feb 24, 2014 - 2:07 PM
A new study based on an analysis of the Property Price Register shows that the number and value of transactions in Dublin rose substantially during 2013. The study reveals that the number of house sales in the capital last year rose to 10,000, an increase of 17% on 2012. There were 246 sales in Dublin for €1m or more. Meanwhile the lowest price achieved was €6,000 in respect of a house in Marino, North Dublin.
Feb 20, 2014 - 4:31 AM
London's West End is the world's most expensive office market for the second year in a row, retaining its title ahead of runner-up Hong Kong, according to research published Tuesday in Cushman & Wakefield's annual Office Space Across the World report. Dublin moved up from 31st rank to 25th of 67 global locations.
Feb 19, 2014 - 6:56 AM
Irish commercial property returns rose to 12.7% in 2013 as the Irish property downturn reached its nadir and property values increased amid improving economic sentiment. According to the IPD/SCSI Ireland Quarterly Property Index, property values rose by 3.2% for the year - - the first annual capital growth since 2007 - - while income returns averaged 9.2%. Real estate values began to grow in selected prime office markets at the start of 2013, but headline level capital growth did not emerge until Q3, halting the 23-quarter decline that has seen values fall by over 65%.
Feb 19, 2014 - 6:27 AM
Feb 10, 2014 - 7:37 AM
Irish House Rents: The year-on-year increase in the average rent nationwide accelerated to 7.1% in the final quarter of 2013, up from 2.2% a year previously, according to the quarterly Daft.ie Rental Report released today. The average advertised rent nationwide is now €865, compared to €790 two years ago. The average rise in Dublin was 11.2% to €1,210.
Irish Economy 2014: The construction PMI (purchasing managers' index) maintained its recent run of improvement at the start of 2014 as further new business growth led to another strong rise in activity. Meanwhile, firms increased their employment at a faster pace. Business sentiment was only slightly weaker than December’s record high as firms forecast further growth of activity over the coming year. The sample of firms polled is likely to be small as it's not disclosed in contrast with other PMI survey reports - - so boomtime has not yet returned!
Feb 10, 2014 - 7:00 AM
Irish House Prices 2013: In the year to December, residential property prices at a national level, increased by 6.4%. This compares with an increase of 5.6% in November and a decrease of 4.5% recorded in the twelve months to December 2012. Residential property prices grew by 0.3% in the month of December. This compares with an increase of 0.6% recorded in November and a decrease of 0.5% recorded in December of last year. In Dublin residential property prices grew by 0.3% in December and were 15.7% higher than a year ago.
Jan 23, 2014 - 12:24 PM
Dublin second-hand house prices rose by 17.7% last year as a lack of property coming to the market and improved buyer sentiment led to the 6th consecutive quarter of growth, according to the DNG Annual Property Review.
Jan 22, 2014 - 1:36 AM
UK commercial property returned 10.9% in 2013, according to the IPD UK Monthly Property Index [pdf], the strongest annual performance since 2010, coming in ahead of a consensus forecast of 8.6%.
Jan 16, 2014 - 8:25 AM
From 67% losses from the late 2007 peak, Ireland is now one of the 'hottest' hotspots for European commercial property according to research published Thursday. "With Ireland having seen a flood of deals," investors are beginning to focus on Spain, the research found.
Jan 16, 2014 - 8:06 AM
The Irish construction sector recorded further strong growth of activity at the end of 2013 as new orders rose sharply again. Purchasing activity and employment increased as a result, while record optimism was registered. The Ulster Bank Construction Purchasing Managers’ Index (PMI) - - a seasonally adjusted index designed to track changes in total construction activity - - remained well above the 50.0 no-change mark in December, posting 58.3. Although this was lower than the reading of 58.8 in November, the index still pointed to a substantial increase in construction activity in Ireland. Confidence among clients had led to improved new order levels, thereby supporting growth of activity.
Jan 13, 2014 - 7:34 AM
The Irish industrial property market was back at 2007 levels in 2013 as take-up to the year end rose 18% from 2012, to 2.87m sq.ft. This was comparable to levels achieved during the peak of the market in 2007, according to the Dublin office of Jones Lang LaSalle, the international property agents. Meanwhile CoStar News, the commercial property news website, broke the news
Blackstone, the US private equity firm, and Google, the internet giant, have split the spoils of NAMA’s four-strong Dublin office
Platinum portfolio for a combined sale price of €165m.
Jan 7, 2014 - 7:08 AM
Irish House Prices: Asking prices in counties Meath, Kildare and Wicklow changed by less than 1% over the course of 2013, as prices in bordering county Dublin rose by 11%, according to the 2013 House Price Report released today by property website Daft.ie. Dublin's double digit growth has seen the national average asking price rise over the course of a year for the first time since 2007. The average national asking price is now €171,000, up 0.2% from the beginning of 2013 and down 55% from the peak.
Jan 6, 2014 - 5:43 AM
Irish House Prices 2014: The weak supply of new houses in the Dublin region will be one of the main challenges facing the property market in 2014 according to the author of the latest house price survey from MyHome.ie. An asking price gulf between a mix of asking prices nationally and in the capital, has risen from 17% a year ago to a 28% price differential now.
Jan 2, 2014 - 7:52 AM
Irish House Rents: The average monthly standardised rent in Dublin in Q3 this year was €1,041, compared to €978 a year ago, and €1,015 in Q2 this year. For houses, it was €1,157 compared to €1,095 a year ago, and €1,124 in Q2 this year, while for apartments, it was €1,042 in Q3, compared with €983 a year ago, and €1,022 in Q2 this year. Outside Dublin, the average standardised rent in Q3 this year was €620, compared to €622 a year ago, and €612 in Q2 this year. For houses, the figure was €622 in Q3, compared with €619 a year ago, and €608 in Q2 this year, while for apartments, the figure was €624, compared with €636 a year ago and €627 in Q2 this year.
Dec 12, 2013 - 10:56 AM
The Irish construction sector again recorded strong growth of activity and new orders in November as the recovery in the sector continued. Furthermore, a marked pick-up in the rate of job creation was seen during the month and business sentiment was the highest since the survey began in June 2000. The Ulster Bank Construction Purchasing Managers’ Index (PMI ) - - a seasonally adjusted index designed to track changes in total construction activity - - remained well above the 50.0 no-change mark in November, posting 58.8, down from 59.4 in October. Construction activity has now risen in three successive months. Anecdotal evidence suggested that rising new business amid improving market conditions had supported the latest increase in activity. However, the number of firms polled in this survey is not disclosed, suggesting that the sample is small - - it is unusual in PMI survey results that the number of firms in the sample is not published.
Dec 9, 2013 - 2:03 AM
The number of Irish mortgages in arrears for more than 90 days rose in the third quarter of the year compared to the previous three months, according to the Central Bank today. Early arrears declined significantly during the third quarter of the year.
Nov 28, 2013 - 2:47 PM
Irish House Prices rose 15% in Dublin in the year to October 2013 while residential property prices at a national level increased by 6.1%. This compares with an increase of 3.6% in September and a decrease of 8.1% recorded in the twelve months to October 2012. Meanwhile, mortgages issued at a national level are at the lowest since 1974 -- 39 years ago.
Nov 27, 2013 - 3:18 PM
UK taxpayers are subsidising buy-to-let landlords with £5bn a year because of loopholes that allow rental income and capital gains on property sales to be exempt from taxation, according to new research.
Nov 25, 2013 - 8:56 AM