Property September 2016
Published: Oct 14, 2016
- An Irish Reit has applied for permission to build 492 apartments in South Dublin. The mixed use development will be located at Rockbrook in Sandyford. If given the go-ahead, Rockbrook will house 827 apartments in total.
- An EU study claims that 99% of all homes in Paris are apartments. This is in stark comparison to Dublin where 60% of the housing stock are houses.
- The Central Statistics Office is now encapsulating both cash and mortgage based property transactions for the first time since its inception in 2011. This will lead to a sharper picture of what is happening in the residential property market as almost 50% of property purchases are from cash buyers. Previously, their statistics were based on those drawing down mortgages only.
- The Property Industry Ireland believes that just 14,000 residences will be completed by year-end, falling markedly short of the Government’s 25,000 target. Q2 2016 saw a 17% rise in newly constructed homes.
- A survey by AA Life Insurance reveals that over 50% of people buying their homes for the first time are now aged 35 or over. The survey had 11,000 participants.
- Prices of the average home in central Dublin – the semi-detached, have risen 2.75% in Q3 and are now up 3.7% when compared to the same period in 2015. Prices of the same home in north Dublin are up 3% in Q3, up 5% vs the same period in 2015. South Dublin had an increase of 1.4% for Q3. Lack of supply has been attributed to the sharp increases.
- In a survey by REA, cash buyers have dropped 3% nationwide to 33%.
- Activate Capital has enough funds to commit to 1,200 homes in Dublin in a joint venture between the State-backed ISIF and KKR, a world leader in investment. The first of the new homes are due for release in October 2016.
Minister for Housing Eoghan Murphy has laid out plans to help first-time buyers purchase a home.&n...
Australia: 55 Irish companies flew to Australia to pitch their products to the country in November...
UK: the IMF predicts global growth this year and 2019 to be 3.9%, the biggest expansion since 2011...