Pent-up demand, backed by pent-up savings

What a week, no fewer than three named storms hit Ireland, and there is more to come. In a way, this sums up the housing mood too. Last week we noted the latest CSO figures showing property prices increased by almost 15 percent last year, putting prices less than 4 percent off the Celtic Tiger…

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How reliable are the usually-reliable market indicators?

According to the latest CSO figures released this week, Irish property prices increased 14.4 percent last year. This is the highest annual increase in over six years. The average increase in the capital was just over 13.1 percent, while prices outside of the capital rose by 15.4 percent. Significantly, apartments in Dublin saw the lowest…

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Breathing new life into old houses – this time, it will be different

In the same week that the Irish Fiscal Advisory Council issued a warning about the lack of builders within the State right now, and explained how this shortage of skills “puts [the] National Development Plan in danger”, the Government announced its plan to facilitate the retrofitting of half a million homes around the country by the…

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2009 Housing Policy: “Nothing good came of this mess”

“On reflection, it would have been a good idea to instruct landlords to embark upon raising the quality and standard for bedsits while, and this is key, maintaining their cheaper rent. But that’s not what happened. Bedsits were banned…” Irish Times, Monday January 31st, 2022 Even the most evolved amongst us will know the sense of satisfaction…

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Housing demand exists, there is no need to pay favourites

The property conversation this week has been dominated by the fallout from the most recent Housing for All reporting that showed more than 20,000 landlords have left the rental market over the past five years. According to Department of Housing officials, there were 320,000 landlords in 2016, with the most recent figures showing just over 298,000 currently.…

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Housing Change is Coming

In a week when Irish property price reporting showed a 14 percent year-on-year ‘surge’, the limited supply of new and second-hand homes is demonstrably creating a hectic buying market. It is worth looking beyond the average figure and noting that property outside of the capital saw annual increases of up to 23.4 percent. The latest…

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Making the numbers work

Sean Keyes, writing about Irish property prices for TheCurrency online news publication this week noted that “for private landlords, times are changing”. Well, yes. He chronicles the consistent drip of private landlords choosing to exit the Irish market (approx. 4,000 in 2019 and 2020) and the reduction in the number of buy-to-let mortgages being drawn down…

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The other side of the rental crisis

We close out the year recording a nationwide rental price increase of 8%, with the average monthly rent now standing at €1,397, according to the latest RTB figures. As predicted by early-year figures, Dublin has seen a greater initial drop and slower rebound in rental price growth since the start of the pandemic. Interestingly, there…

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An emergency by any other name

In early 2020, Ireland enacted emergency legislation to respond to the coronavirus pandemic. For a government, declaring a state of emergency is not an insignificant thing. Initial calls for the housing crisis to be declared an ‘emergency’ pre-date 2017. Arguably, many of the policy changes and legislation measures introduced since then have been in response…

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