Irish construction reports “absolute pull-back” as UK construction “defies forecasts”

But what does this mean for housing delivery? Some surprising economic news from the UK this week, with reports that the national economy returned to growth in May, with outputs up 0.5 percent. The Financial Times reported this performance as “defying forecasts” and “surprising economists”. Perhaps the most surprising aspect was that this growth was seen across all main…

Read More

Important changes to tenancy notice periods

New legislation has been passed in recent days by the Oireachtas, increasing the minimum period of notice to vacate a landlord must give to a tenant from 28 days to 90 days. This  means that where there has been no breach of tenant obligations, tenants in a rental property for less than six months must…

Read More

This time it’s different

Over the past few months we have seen the rate of increase in residential property prices slow, they are still increasing, but at a slower rate. This mirrors the trend seen across much of North America, the UK and parts of the eurozone. Last weekend, the Irish Examiner reported that first time buyers and home…

Read More

Crisis or Opportunity?

‘Flood of landlord-owned homes coming to market’ The annual Mercer Cost of Living Survey is out and Dublin is now ranked 49th on a list of the 227 costliest cities for expats, an improvement on last year’s ranking of 39th. Vienna is now the most expensive eurozone city on the list, followed by Amsterdam, Munich, Paris and…

Read More

Is the PRS going to the dogs?

What a week, even our President cannot keep out of trouble when it comes to Ireland’s housing. While his comments were undoubtedly out of line for his position as the lead public servant in the country, the industry does not appear to be as outraged about it as politicians are. In fact, when the great…

Read More

Might tax cuts for smaller landlords be on the cards?

Today, there are fewer than 850 properties registered as available to rent in Ireland. And fewer than 400 of these are in Dublin (city and county). This is the result of a decade-long period of anti-landlord policies, overly burdensome regulations and an unfairly skewed taxation regime that have driven many private residential investors from the…

Read More

Ireland’s pins hopes on digital construction

And so it begins… The Independent newspaper has run the first ‘Have we hit peak house prices – Is now the right time to buy?’ article of the expected market correction. This follows two months of similar news items across the US, Australia and much of the eurozone.  It is difficult to speculate about a price correction…

Read More

Rent Controls: A basic lesson in cause and effect

According to the European Commission, Ireland’s economy looks set to be the second-fastest growing economy in the eurozone this year, and it is expected to be the fastest growing economy next year. This follows a year of massive growth of 13.5 percent in 2021, which has been largely attributed to pharma and IT exports throughout…

Read More

Stark rental figures

Quite a lot happened for the industry this week… Setting aside the controversy within An Bord Pleanála, which is still unfolding, the Bord was the subject of a Currency.news feature this week, calling out “unimplemented institutional reforms, controversial government housing policies and relentless legal challenges”. At this stage, it is difficult to see how the proposed new…

Read More