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

News : Property
Some of the uncompleted housing developments known as ghost estates that were abandoned after the economic crash are due to be demolished. Meanwhile, the Irish Mortgage Holders Organisation (IMHO), an activist group on behalf of mortgage borrowers who are in arrears on their payments, said on Sunday that it had agreed an initiative with AIB Group on the process of seeking solutions for distressed mortgage holders of AIB/EBS/Haven loans.
Nov 18, 2013 - 8:42 AM

News : Property
The latest EBS DKM Affordability Index shows that the national affordability level for first time buyers remains stable at 17.3% of net income for a working couple purchasing the average property, with this figure forecasted to rise to 17.7% by the end of this year. However in Dublin, property prices in certain areas have increased by up to 12.1% in the six months to September and as a result, affordability levels have weakened reaching 22.4% in September 2013 and this figure is expected to rise to 23.7% at the end of this year.
Nov 18, 2013 - 8:18 AM

News : Property
The European commercial property picture remains mixed in spite of the generally better news flows from the region in recent months according to the Royal Institution of Chartered Surveyors (RICS) . Occupier and investment sentiment remains negative in the ‘core’ Dutch and French markets, although improved from earlier on in the year, with Italy continuing to struggle. Nevertheless a “European thaw” is visible as Ireland and Spain are seeing improvement in the commercial property market; with a positive turning point in Spain for the first time in the post crisis era and the German market remains strong.
Nov 13, 2013 - 7:50 AM

News : Property

We at Finfacts have reported on rising empty houses over the last decade - -  from 140,000 that were counted in 2002 to 266,000 in 2006 and reports of about  350,000 vacant houses in both 2008 and 2010. In Dublin, house prices are up 12.1% in the year to September because of a reported shortage of units for sale; mortgage approvals and drawdowns are at the lowest since 1974 or 39 years ago and rents are rising nationwide. These developments prompt the question: Where have all the empty Irish houses gone?

Nov 13, 2013 - 7:12 AM

News : Property

The latest figures from the IBF/PwC Mortgage Market Profile, published today, show that a total of 4,482 new Irish mortgages to the value of €750 million were drawn down by borrowers here during the third quarter of 2013. This represents an increase of over 12% on Q3 2012 and an increase of over 38.8% on Q2 2013 – albeit coming from a relatively low base.  There were 20,800 approvals in 1974 - -  39-years ago.

Nov 11, 2013 - 4:35 PM

News : Property

Irish House Rents: The year-on-year rise in the average Irish house/ apartment rents nationwide accelerated to 4.8% in the third quarter of 2013, up from 4.2% in Q2, according to the quarterly Daft.ie Rental Report released today. The acceleration is due mainly to trends outside Dublin, with rental inflation outside Dublin rising from 0.9% to 1.8% in recent months. The average rent nationwide is now €824.

Nov 11, 2013 - 6:00 AM

News : Property
The recovery in the Irish construction sector picked up pace in October. Growth of both activity and new business accelerated from September and firms raised their input buying sharply, although the rate of job creation remained marginal. Meanwhile, cost inflation quickened as material prices increased. The Ulster Bank Construction Purchasing Managers’ Index (PM1) - - a seasonally adjusted index designed to track changes in total construction activity – rose to 59.4 in October from 55.7 in September to signal a sharp monthly expansion of activity. Moreover, the rate of growth was the fastest in close to eight years. However, the number of firms polled has not been disclosed - -suggesting that it is small - - and there was only a marginal change in jobs.
Nov 11, 2013 - 1:12 AM

News : Property
Data from the Department of Finance shows that almost 75% or 62,210, of the 83,000 mortgages that are in arrears of 90 days+ have  not been restructured.
Nov 1, 2013 - 8:23 AM

News : Property
There were 1,673 mortgage approvals in September 2013, of which 1,544 were for house purchase according to the Irish Bankers Federation today. At an annualised rate this level is the lowest since 1974 - - 39 years ago.
Oct 31, 2013 - 2:46 PM

News : Property
Following the announcement in Budget 2014 of the new Home Renovation Tax Incentive Scheme, Bank of Ireland announced today  that it has launched a new €75m fund to support homeowners seeking to make improvements to their home.
Oct 30, 2013 - 12:58 PM

News : Property
Irish House Prices 2013: In the year to September, residential property prices at a national level, increased by 3.6%. It compares with an increase of 2.8% in August and a decrease of 9.6% recorded in the twelve months to September 2012. In Dublin prices rose 12.1%.
Oct 29, 2013 - 2:34 PM

News : Property
Irish commercial property values, which fell by more than 65% since the recession, rose by 0.3% during the third quarter of 2013 according to the IPD/SCSI Ireland Quarterly Property Index. The first capital value rise seen in six years was due to improving sentiment around the value of discounted property assets, as well as gradually increasing occupier demand. After 23 quarters of capital decline, the latest figures also show the highest quarterly total return for Irish commercial real estate since September 2007, at 2.6%.
Oct 24, 2013 - 7:52 AM

News : Property
UK commercial property values rose by 0.6% in September, the highest monthly growth since April 2010, according to the IPD UK Monthly Property Index.
Oct 18, 2013 - 4:49 AM

News : Property
The Irish construction sector returned to growth in September as activity rose for the first time in more than six years. New orders expanded at a sharp and accelerated pace, leading to growth of purchasing activity and a stabilisation of employment. Meanwhile, sentiment among construction firms regarding the 12-month outlook was one of the strongest in the history of the series. The Ulster Bank Construction purchasing managers’ index ((PMI) - -  a seasonally adjusted index designed to track changes in total construction activity - - posted 55.7 in September, rising from 49.7 in August and registering above the 50.0 no-change mark for the first time since May 2007. Panellists reported that higher new orders and signs of improvements in economic conditions had contributed to growth of activity. However, before putting the champagne on ice, Finfacts issues a Reality Check warning: the sample of firms maybe very small as it's not disclosed and another survey reported below shows that while there has been an improvement in housing, the sector is still contracting.
Oct 14, 2013 - 3:34 AM

News : Property
The Central Bank of Ireland today published the signed articles from the Bank’s fourth Quarterly Bulletin for 2013 on the recently expanded Residential Mortgage Arrears Statistics and a survey on the policy initiatives that have been adopted in Ireland with the aim of improving credit flow to SMEs since the onset of the financial crisis in 2008. It disclosed that mortgages to the value of over €9bn have been in arrears for 2 years or more.
Oct 2, 2013 - 10:01 AM

News : Property
Asking prices across Dublin rose in year-on-year terms during the third quarter, whilst they continued to fall in all other counties, according to the Q3 2013 report published by Ireland's biggest property website Daft.ie. Prices in Dublin for the 3rd quarter of the year were up 7.7% compared to the same period in 2012, whilst outside of the capital prices fell by 6.7%. The average national asking price is 1.5% down from the same time last year, the most stable it has been since 2007, and now stands at €170,400, down 55% from the peak.
Oct 1, 2013 - 8:17 AM

News : Property
In the year to August, Irish house / residential property prices at a national level, increased by 2.8%. It compares with an increase of 2.3% in July and a decrease of 11.8% recorded in the twelve months to August 2012.
Sep 26, 2013 - 1:54 PM

News : Property
Monthly commercial property total returns rose to 0.9% in August, their highest since March 2011, as improvements in the wider economy continued to filter down into real estate performance. According to the IPD UK Monthly Index, produces by IPD London, returns were boosted by a 0.4% rise in property values, which have grown by a cumulative 0.8% over the four straight months since May. Income returns, at 0.6%, have remained steady over the same period.
Sep 23, 2013 - 4:48 AM

News : Property
Irish Construction: The construction sector moved closer to stabilisation in August amid further growth of new business. The sample here is likely to have been small as it hasn't been disclosed by Markit.
Sep 9, 2013 - 1:59 AM

News : Property
UK commercial property returns remained steady in July, at 0.8%, as regional improvements continued but growth in London slowed, according to the IPD UK Monthly Property Index.
Aug 27, 2013 - 7:11 AM

News : Property
The Society of Chartered Surveyors Ireland (SCSI) says building costs increased slightly in the first half of 2013, continuing a trend of moderate price increases dating from the start of 2011 when prices first began to level off. The Society of Chartered Surveyors Ireland Tender Price Index, which has been running since 1998 and is the only independent assessment of construction tender prices in Ireland, shows that construction tender prices increased by 0.9% since the end of last year and were up 2.7% for the full year from the first half of 2012. Prices are back to 1999 levels.
Aug 27, 2013 - 5:41 AM

News : Property
The Central Bank said on Friday that almost 100,000 Irish mortgages were 3 months or more in arrears at the end of the second quarter of 2013.
Aug 25, 2013 - 12:30 PM

News : Property
Irish Housing 2013: The Irish Banking Federation (IBF), says in a quarterly report today that a number of indicators suggest stabilisation in the housing market. These include rises in the number of dwellings listed for sale, the number of property transactions and in the level of mortgage approvals and drawdowns - - but regional variations are very evident. However, the level of mortgage activity remains at the 1973 level.
Aug 22, 2013 - 2:44 PM

News : Property
Dublin prices rose by 8% in the year to July according to the CSO today. However, we reported last week that mortgage transactions nationwide are at the level they were at in 1973 level when the population was one-third lower.
Aug 20, 2013 - 2:02 PM

News : Property
Irish Property: The Daft.ie Q2  2013 Rental Report shows the property market in Dublin is experiencing very different conditions to much of the country. Rents in Dublin are now 7.5% higher in 12 months after registering their fourth consecutive quarter of growth. This is the fastest rate of rent inflation since mid-2007, six years ago, and reflects tight supply in the Dublin market. Rental prices outside of Dublin have risen by 1% over the same period. Nationwide, the average rent is now €825, compared to €792 a year previously.
Aug 19, 2013 - 7:27 AM

News : Property
Irish mortgage lending in Q 2 2013 remained at a 40-year low with levels similar to 1973 when the population was about 3m compared with 4.6m today.
Aug 16, 2013 - 3:27 PM

News : Property
Irish Construction: The decline in Irish construction activity slowed markedly in July as new orders returned to growth, according to a purchasing managers' index (PMI) survey released this morning. However while glimmers of light after six grim years should be welcome, keep in mind that the sample used must be very low as it hasn't been revealed.
Aug 12, 2013 - 7:16 AM

News : Property
Irish commercial property returns rose to 2.3% in Q2, their highest in almost six years, as capital values stabilised and the nascent Irish recovery gathered momentum. Property values, which have fallen by over 65% for 21 consecutive quarters, finally saw a degree of stabilisation, falling by just 0.01%, according to the IPD/SCSI Ireland Quarterly Property Index.
Jul 24, 2013 - 11:12 AM

News : Property
In the year to June, residential property prices at a national level, increased by 1.2%. The CSO said today that this is the first annual increase since January 2008. It compares with an annual rate of decline of 1.1% in May and a decline of 14.4% recorded in the twelve months to June 2012. Transactions remain at a low level and only 3,700 residential units were completed in Ireland in the first half of the year. 
Jul 23, 2013 - 2:18 PM

News : Property
A further decline in activity was recorded at Irish construction firms in June. New business also decreased, albeit marginally. Lower new work led to further sharp reductions in purchasing activity and employment, but business sentiment improved. On the cost front, input price inflation slowed again and was only slight.
Jul 8, 2013 - 2:00 AM

News : Property
Asking prices in South County Dublin rose by 12.2% in the year to mid-2013, according to the Q2 2013 report published by property website Daft.ie. This is the strongest year-on-year growth in asking prices recorded in any part of the country since early 2007. For the country as a whole, however, prices fell, but by 4% compared to 15% a year ago, with the typical asking price now 54.6% below their peak in 2007. Meanwhile, MyHome.ie says asking prices for houses in Dublin have grown by 1% year on year - - the first time annual growth has been recorded for house prices in the capital in six years.
Jul 1, 2013 - 6:48 AM

News : Property
Ahead of its annual conference at the Aviva Stadium in Dublin today, Property Industry Ireland (PII),  -- a group comprising engineers, architects, planners and surveyors; professional services firms, property advisory firms; financiers, including stockbrokers and banks; building materials companies; and developers and contractors --  has highlighted the need to attract further international capital and non-bank funding into the Irish property market to ensure that emerging shortages in both the housing and prime office markets are addressed as a priority. Funding must be made available to deliver up to 30,000 new dwellings each year and a much needed stock of prime office space if the country's essential property requirements are to be met in the years head.
Jun 27, 2013 - 9:32 AM

News : Property
The Central Bank today published Q1 (first quarter) 2013 data on mortgage arrears, repossessions and restructures, which shows that there were 95,554 (12.3%) private residential mortgage accounts for principal dwelling houses (PDH) in arrears of over 90 days at end-March 2013, up from 92,349 accounts (11.9%) at end-December 2012. Buy-to-let arrears were almost 20%.
Jun 21, 2013 - 11:49 AM

News : Property
The Irish construction sector remained deep in contraction territory during May, with further sharp declines in activity and new orders recorded. The recession in the industry is now in its sixth year.
Jun 10, 2013 - 3:30 AM

News : Property
In the year to April, Irish house /residential property prices at a national level, fell by 1.2% according to the CSO. This compares with an annual rate of decline of 3.0% in February and a decline of 16.4% recorded in the twelve months to April 2012.
Jun 4, 2013 - 2:39 PM

News : Property
The IBF Housing Market Monitor Q1 2013, published today by the Irish Banking Federation (IBF), points to a 14% increase nationally in the number of residential property transactions during the first three months of the year, as well as to signs of continued stabilisation in prices.
May 28, 2013 - 4:39 PM

News : Property
The latest figures from the IBF (Irish Bankers' Federation) Mortgage Approvals Report, published today, show an increase of some 23% (22.8%) in the number of new mortgages approved in April compared to the previous month.  This also represents an increase of 8.7% on the same month last year. A total of 1,433 mortgages to a value of €240m were approved by lenders here during the month of April.
May 27, 2013 - 2:39 PM

News : Property

Irish House Rents: The average national rent is up 2.7% from a year previously and has risen for three consecutive quarters for the first time since 2007, according to the latest quarterly Daft.ie Rental Report. The average rent nationwide now stands at €815 compared to €794 a year previously.

May 2, 2013 - 7:46 AM

News : Property
The rate of new mortgage approvals continued to grow in March 2013 according to the latest IBF Mortgage Approvals Report which tracks the number of new mortgages approved by mainstream lenders. The latest figures from the report show that 1,167 mortgages were approved during March to the value of €196m  some €186m of which was for house purchase. While down 10.9% on March 2012, there was a volume increase of 6.8% and a value increase of 15.9% over the month of February.
Apr 30, 2013 - 4:47 PM

News : Property
Rental values in the Irish office and industrial sectors have grown for the first time in five years, according to the SCSI / IPD Ireland Quarterly Property Index. At 0.2% for offices, and 1.6% for industrials, the growth is the first sign of recovery in the occupier market, which has seen rental values written down by over 48% since December 2008.
Apr 26, 2013 - 7:58 AM

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