Construction BUSINESS

Housing

Stark and Growing Gap Between Mortgage and Rent

    Stark and Growing Gap Between Mortgage and Rent

Responding to the latest CSO house price figures indicating a continuing slowing in the rate of house price increases, 5.8pc in Dublin in the year to September and 10.8pc in the Rest of Ireland, Brokers Ireland pointed to a growing gap between repaying a mortgage on a home and paying rent on a similar home.
Rachel […]

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Residential Property Prices Rise by 8.2% in the Year to September

    Residential Property Prices Rise by 8.2% in the Year to September

In the year to September, residential property prices at national level increased by 8.2%, according to the CSO. This compares with an increase of 8.9% in the year to August and an increase of 12.0% in the twelve months to September 2017.
In Dublin, residential property prices increased by 5.8% in the year to September. Dublin […]

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70% Believe Irish Government Not Doing a Sufficient Job in Easing the Housing Crisis

    70% Believe Irish Government Not Doing a Sufficient Job in Easing the Housing Crisis

The findings of a nationally representative survey recently conducted by iReach highlight the pessimism of Irish people about the current state of housing and homelessness. The results also demonstrate a lack of faith from the public in the Government’s approach to the issue.

66% of people were not confident that Minister for Housing Eoghan Murphy’s most […]

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Opening of €11 Million Social Housing Development in Dublin

    Opening of €11 Million Social Housing Development in Dublin

Oaklee Housing’s newest €11 million turnkey development in Stormanstown House, Dublin, has been officially opened, further reducing the social housing waiting list. The €11million development completed in early October is part funded through a combination of funds from the Capital Advance Leasing Facility (CALF) (30%) and private finance from the Housing Finance Agency (70%). The […]

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Sisk Living Delivers 90 Social Houses in Tallaght

    Sisk Living Delivers 90 Social Houses in Tallaght

Sisk Living, the housing division of construction company John Sisk & Son, has formally handed over a development of 90 homes at Sheehy Skeffington Meadows in Tallaght to the client South Dublin County Council. The new homes, which will be used for social housing, were built as part of a design and build contract worth […]

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Property Bridges Launches Ireland’s First Peer to Peer Property Loans

    Property Bridges Launches Ireland’s First Peer to Peer Property Loans

PropertyBridges.com – a new Irish owned peer to peer property development company – has opened for business and has launched Ireland’s first peer to peer property development investment opportunity. The PropertyBridges.com platform will raise money for small developers, small construction companies and private companies looking to develop housing and match them with thousands of lenders […]

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SDCC Agrees Innovative 1000 Home Joint Venture Initiative in Dublin 22

    SDCC Agrees Innovative 1000 Home Joint Venture Initiative in Dublin 22

Following a detailed master planning and competitive tender process, South Dublin County Council has now agreed on the joint venture development of 975 homes on 72 acres of council lands at Kilcarbery in Clondalkin, Dublin 22. The mixed tenure development which will include 294 social housing units (30% of the development) is the first of […]

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New Phase of SVP Housing Scheme Officially Opened

    New Phase of SVP Housing Scheme Officially Opened

Phase 2 of the Society of St Vincent De Paul (SVP) St Benedict’s Housing Scheme at Estuary Road, Malahide, County Dublin has been officially opened by Eoghan Murphy TD, Minister for Housing, Planning & Local Government. St Benedict’s Phase 2 scheme provides an additional 8 x 1 bed units of accommodation for the elderly to the Society’s […]

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New Peer to Peer Business Model Launches For Housing Crisis

    New Peer to Peer Business Model Launches For Housing Crisis

PropertyBridges.com, Ireland’s new ‘peer to peer’ property platform, has officially been launched. The platform will raise money for small developers, small construction companies and private companies looking to develop housing and match them with thousands of lenders from the ordinary citizens of Ireland.
The business is being run by David Jelly (pictured left), Michael Fitzpatrick and Marc […]

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Fingal County Council Commences Procurement For Development of Ballymastone Site

    Fingal County Council Commences Procurement For Development of Ballymastone Site

Fingal County Council, as part of its commitment to increasing the supply of private and public housing in the County and creating sustainable communities, has commenced procurement for the development of a site at Ballymastone, Donabate, Countyy Dublin. This is the next step in an ongoing process and follows on from the Market Soundings which […]

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Fingal County Council Prepares to Roll Out €588 Million Capital Programme Over Next Three Years

    Fingal County Council Prepares to Roll Out €588 Million Capital Programme Over Next Three Years

Fingal County Council has approved the drawdown of an €8 million loan from the European Investment Bank (EIB) as it prepares to roll out its ambitious €588 million Capital Programme over the next three years. Last December. Fingal County Council signed an historic agreement with the EIB to secure a €70 million loan facility to support […]

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Majority of Irish People Planning Home Improvement Projects

    Majority of Irish People Planning Home Improvement Projects

Two-thirds (67%) of Irish adults are planning on renovating or redecorating their homes within the next 12 months, according to a survey carried out behalf of Hardware Association Ireland, supporting the association’s call for the Government to expend the Home Renovation Incentive Scheme.
Of those planning work, almost one-third (31%) expect to spend more than €5,000 […]

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Positive Housing Measures in Budget 2019 But More Required

    Positive Housing Measures in Budget 2019 But More Required

Property Industry Ireland (PII), the Ibec group for businesses working in the property sector, has welcomed the housing measures in Budget 2019 as positive but maintains that much more needs to be done. Dr David Duffy, Director, Property Industry Ireland (PII), commented: “The increase in spending on social housing is welcome but the emphasis must […]

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CIF Welcomes Increases in Infrastructure Investment and Affordability Measures in Housing

    CIF Welcomes Increases in Infrastructure Investment and Affordability Measures in Housing

The CIF has welcomed the €2.3 billion housing package and the 24% increase in capital infrastructure funding announced by the Government in the recent Budget. However, the CIF has expressed disappointment that there was no clarity in relation to an extension of the Help to Buy scheme which is due to expire in December 2019.
Director […]

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Dublin Housing Crisis Restricts Employers’ Ability to Recruit

    Dublin Housing Crisis Restricts Employers’ Ability to Recruit

New research commissioned by specialist regeneration and property developer U+I shows that Dublin’s housing crisis is seriously hampering business’ efforts to recruit and retain talent in the city. The Housing availability, recruitment and retention in Dublin research, conducted by market research company Behaviour & Attitudes*, surveyed over 100 senior hiring managers representing large national and international employers […]

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Housing Completions of 18,655 Units Forecast For 2018

    Housing Completions of 18,655 Units Forecast For 2018

Strong growth is likely to persist in the Irish economy through 2018 and 2019. This is indicated by rising private consumption, increases in taxation receipts and continued declines in unemployment rates. The ESRI’s latest Quarterly Economic Commentary states that GDP is expected to grow by 8.9 per cent in 2018, followed by 4.5 per cent growth in […]

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Hardware Association Ireland Calls For Imaginative Measures to Tackle Housing Crisis

    Hardware Association Ireland Calls For Imaginative Measures to Tackle Housing Crisis

Hardware Association Ireland (HAI) has called on the Minister for Finance to address the housing crisis in the forthcoming budget through the introduction of a Derelict Property Renovation Incentive Scheme. HAI has also urged the Minister to reduce VAT on construction from 13.5% to 9% for a two-year period in order to stimulate house building […]

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Government Launches €1.25 Billion Land Development Agency to Build 150,000 New Homes

    Government Launches €1.25 Billion Land Development Agency to Build 150,000 New Homes

The Government has launched the Land Development Agency to build 150,000 new homes over the next 20 years, the next step of Project Ireland 2040. The new Agency has an immediate focus on managing the State’s own lands to develop new homes, and regenerate under-utilised sites. In the longer-term it will assemble strategic landbanks from […]

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Glenveagh Properties is Ahead of Schedule

    Glenveagh Properties is Ahead of Schedule

Glenveagh Properties, a leading Irish homebuilder listed on Euronext Dublin and the London Stock Exchange, has reported revenue of €1.3 million for the first half ended 30 June 2018, relating primarily to the closing of six 2 & 3-bed starter homes in the Greater Dublin Area, as well as rental income from a number of […]

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€3.7 Million Drawn Down as Rebuilding Ireland Home Loan Proves Popular in Fingal

    €3.7 Million Drawn Down as Rebuilding Ireland Home Loan Proves Popular in Fingal

Fingal County Council has received the highest amount of applications among the 31 Local Authorities for the Rebuilding Ireland Home Loan and has overseen a draw down of over €3.7 million since the scheme commenced. Since the start of the scheme on February 1, Fingal County Council has received 340 applications and already 136 provisional […]

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CSO House Price Index – Rising Prices in Rural Areas But Brexit Effect is Stark For Border Area

    CSO House Price Index – Rising Prices in Rural Areas But Brexit Effect is Stark For Border Area

Responding to the latest CSO house price figures indicating an accelerating rate of increase in prices outside of Dublin 15.2pc in the year to June from 14.1pc in the year to May and 13.6pc to April and a continuing slowing in the rate of house price increases in Dublin, at 9pc in the year to […]

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CIF Budget Submission For the Delivery of Essential Housing and Infrastructure

    CIF Budget Submission For the Delivery of Essential Housing and Infrastructure

According to the Construction Industry Federation (CIF), the forthcoming Budget is an opportunity to remove a number of blockages in delivery of essential housing and infrastructure. The CIF has stated that the delivery of transformative housing and infrastructure requires more effective co-ordination between industry and government in three key areas: investing in skills and R&D, […]

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Northern Ireland Housing Market Continues to Perform Strongly

    Northern Ireland Housing Market Continues to Perform Strongly

The latest Quarterly House Price Index report from Ulster University reveals a relatively healthy housing market with strong but sustainable levels of house price growth over the last 12 months in Northern Ireland. Ulster University’s research is produced in partnership with the Northern Ireland Housing Executive and Progressive Building Society.

Analysing the performance of the Northern […]

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Call For Reduction in Stamp Duty For First-time Buyers

    Call For Reduction in Stamp Duty For First-time Buyers

A call for stamp duty to revert to 2pc to enable more aspiring first-time buyers acquire once off sites to build homes has been called for by IPAV, the Institute of Professional Auctioneers & Valuers, which says last year’s hike from 2pc to 6pc is adversely affecting the cost of a new house for first-time buyers. Launching its […]

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Glenveagh Properties Acquires Substantial Site at Tyrrelstown, Dublin

    Glenveagh Properties Acquires Substantial Site at Tyrrelstown, Dublin

Glenveagh Properties has announced a further substantial land acquisition in the Greater Dublin Area (GDA) capable of delivering over 1,250 units. The Irish homebuilder has exchanged contracts to acquire a c.113 hectare site (39 hectares of which are zoned residential) in Tyrrelstown, Dublin 15 which has the potential to deliver over 1,250 residential units. The acquisition, which […]

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Residential Property Prices Rise by 12.4% in the Year to May

    Residential Property Prices Rise by 12.4% in the Year to May

In the year to May, residential property prices at national level increased by 12.4%, according to the CSO. This compares with an increase of 13.5% in the year to April and an increase of 10.9% in the twelve months to May 2017.
In Dublin, residential property prices increased by 10.7% in the year to May. Dublin […]

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Plans to Upgrade Ireland’s 1 Million Energy Inefficient Homes

    Plans to Upgrade Ireland’s 1 Million Energy Inefficient Homes

Over 200 building professionals, including architects, specifiers, builders, plumbers, engineers and researchers, gathered at SEAI’s second Annual Deep Retrofit Conference in the Aviva in Dublin. The conference brought together building energy efficiency experts from Ireland and Europe to discuss solutions to upgrading Ireland’s homes.
As many as one million homes built in the last century are considered […]

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Dublin’s First Major Cost Rental Development

    Dublin’s First Major Cost Rental Development

A Dublin City Council-owned site at Emmet Road in Inchicore, has been selected as the location for Dublin’s first major Cost Rental development. It is expected that the detailed proposal for the site will be brought before the Council in September for approval.
It is envisaged that delivery will be overseen by a dedicated project team […]

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Home For Life is a New Participant in the Mortgage to Rent Scheme

    Home For Life is a New Participant in the Mortgage to Rent Scheme

The Government has welcomed Home For Life Ltd as a new participant in the Mortgage to Rent [MTR] scheme, where they will work in tandem with local authorities as landlords providing a long term solution for those in mortgage distress. The announcement coincides with the launch by the Department of Housing Planning and Local Government […]

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The First Phase of the Regeneration of O’Devaney Gardens Gets Underway

    The First Phase of the Regeneration of O’Devaney Gardens Gets Underway

Eoghan Murphy TD, Minister for Housing, Planning & Local Government; Paschal Donohoe TD, Minister for Finance, Public Expenditure & Reform; and Lord Mayor of Dublin, Nial Ring have turned the sod for the development of the first phase in the Regeneration of  O’Devaney Gardens in Dublin.  The first phase will deliver 56 social homes with […]

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Ibec Warns of Skills Shortages in Construction Sector

    Ibec Warns of Skills Shortages in Construction Sector

Although the latest CSO figures indicate that employment is up 2.9% annually in the first quarter of 2018, Property Industry Ireland, the Ibec group that represents businesses operating in the property sector, has said that the growth in overall employment numbers masks the situation of the construction sector.
The new CSO projections suggest that over 840,000 […]

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Major New Report on Housing Outlines Policy Actions to Boost Affordability and Supply

    Major New Report on Housing Outlines Policy Actions to Boost Affordability and Supply

Ibec, the group that represents Irish business, has launched a new national campaign – Better Lives, Better Business championing new policies across four key pillars – housing, infrastructure, planning and sustainability. Better Lives, Better Business is a campaign that aims to make Ireland a better place to live and to work so that Irish businesses can more effectively attract […]

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Residential Property Prices Rise by 13.0% in Year to April

    Residential Property Prices Rise by 13.0% in Year to April

In the year to April, residential property prices at national level increased by 13.0%, according to the latest CSO figures. This compares with an increase of 12.6% in the year to March and an increase of 9.5% in the twelve months to April 2017.
In Dublin, residential property prices increased by 12.5% in the year to […]

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Unique Programme to Demonstrate Future Housing Options For the Smart Ageing Population (60+)

    Unique Programme to Demonstrate Future Housing Options For the Smart Ageing Population (60+)

A unique programme to demonstrate future options for housing the Smart Ageing population (60+) is to start this year. The programme will focus on creating the opportunity to develop six national demonstrator housing developments of 15-40 housing units over the period 2018 to 2022.
These demonstrators will be used to showcase a range of different types […]

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Housing Market Failing Younger Generations, Says First Woman President of IPAV

    Housing Market Failing Younger Generations, Says First Woman President of IPAV

The current housing market is failing our younger generations, according to Ella Dunphy (pictured) of DNG, who recently became the first woman President of IPAV, the Institute of Professional Auctioneers & Valuers. She was speaking at the organisation’s AGM and annual conference at the Lyrath Estate Hotel, Kilkenny.
“It’s a market where those with the greatest […]

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Dún Laoghaire-Rathdown County Council Delivers Social Housing Under Rebuilding Ireland Programme

    Dún Laoghaire-Rathdown County Council Delivers Social Housing Under Rebuilding Ireland Programme

Dún Laoghaire-Rathdown County Council has delivered a further 12 homes as part of its housing delivery target of 1,563 social housing homes by 2021. The homes were designed and built by John Sisk & Son on a brown field site, to a rapid delivery programme.
As near Zero Energy Buildings ‘nZEB’ will become mandatory for all housing stock in […]

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Cairn Homes to Introduce Duplex Homes to Parkside Development

    Cairn Homes to Introduce Duplex Homes to Parkside Development

Since its launch in 2015, Parkside located on the Malahide Road, has established itself as one of the most attractive and sought-after new developments in North Dublin. For the first time, Cairn Homes is introducing their brand-new duplex homes to the popular family-focused development. In addition to the new duplex homes, Parkside is also launching […]

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Hardware Sector Set For Strong Growth as Economy Expands and Housebuilding Recovers

    Hardware Sector Set For Strong Growth as Economy Expands and Housebuilding Recovers

Ireland’s robust economic performance coupled with the ongoing recovery in the housebuilding sector are driving strong growth in the hardware sector. Despite the severe weather in the early part of the year the hardware industry, including retail, wholesale and manufacturing, is now responsible for direct employment of 19,000 and an overall economic contribution of €377 […]

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Brokers Ireland Warns of Financial Impact of Inability to Buy Homes at Affordable Prices

    Brokers Ireland Warns of Financial Impact of Inability to Buy Homes at Affordable Prices

Responding to the latest CSO house price figures indicating continuing house price growth of 12.1% in the year to March in Dublin and 13.4% elsewhere, Brokers Ireland has warned that unless supply of properties ramps up more quickly in the near future a whole generation now in their late twenties and thirties, and even beyond, […]

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The Economic Picture and the Construction Sector

    The Economic Picture and the Construction Sector

“The Irish economy is firmly back on its feet,” according to Loretta O’Sullivan, Group Chief Economist at Bank of Ireland. “Consumer spending is just above its previous peak and will be an important driver of growth going forward.”
The improvement in consumer confidence is being fuelled by rising employment as the economy continues to create jobs. […]

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No Single Solution to the Imbalance in the Housing Market

    No Single Solution to the Imbalance in the Housing Market

“How do you intervene in a market that is out of balance? We have a lot of policies but implementation is vital,” remarked David Duffy, Director of Property Industry Ireland, the Ibec group that represents the sector, when assessing the issue and challenges facing Ireland’s housing market, where the growth in supply is lagging behind […]

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National Construction Summit 2018 – Ireland is Building Again, Says Housing Minister

    National Construction Summit 2018 – Ireland is Building Again, Says Housing Minister

By 2040 the population of the Republic of Ireland will have reached 6 million, according to Eoghan Murphy TD, the Minister for Housing, Planning and Local Government. He added: “Where are these people going to live and how will they live?”
The Minister was the opening speaker at the 2018 National Construction Summit, which was held […]

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A Plan For Affordable Housing

    A Plan For Affordable Housing

“All housing, not just for first time buyers, needs to be affordable. This means lower prices in Dublin and surrounding counties, which will bring down rents,” pointed out Colm McCarthy, Economist at University College Dublin, during the recent 2018 National Construction Summit.
Colm McCarthy was a main speaker at the event, where he presented his ‘plan […]

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Social Housing Construction Status Report and Social Housing Delivery Targets for Local Authorities 2018-2021

    Social Housing Construction Status Report and Social Housing Delivery Targets for Local Authorities 2018-2021

The Government has published the Quarter 4 2017 Social Housing Construction Projects Status Report, which sets out the significant progress made to date in advancing the construction pipeline, as well as social housing delivery targets for local authorities for 2018-2021. At end-2017, 2,512 homes were completed, 3,650 were under construction and 1,912 further homes were […]

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Analyses on the Cost of Delivering Housing in Ireland

    Analyses on the Cost of Delivering Housing in Ireland

The Government has published three reports on the cost of residential delivery in Ireland –  Review of Delivery Costs and Viability for Affordable Residential Developments; Cost analysis of the updated Sustainable Urban Housing: Design Standards for New Apartments, Guidelines for Planning Authorities; and Comparison of Residential Construction Costs in Ireland to other European Countries.
Commenting on […]

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Michael Carey Named Chair Designate of the Housing Agency

    Michael Carey Named Chair Designate of the Housing Agency

Following Government approval, Michael Carey has been nominated as Chair Designate of the Housing Agency, to take over from Dr Conor Skehan. Michael Carey has extensive experience in overseeing State bodies, having served as Chairman of Bord Bia since 2011 (his second term expired earlier this year), and he has also served as Chair of […]

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Minister for Housing, Planning and Local Government to Open National Construction Summit – 2nd May, 2018 – Citywest Convention Centre, Dublin

    Minister for Housing, Planning and Local Government to Open National Construction Summit – 2nd May, 2018 – Citywest Convention Centre, Dublin

Eoghan Murphy TD, the Minister for Housing, Planning and Local Government, will make the opening address at the 2018 National Construction Summit, being held on Wednesday, 2nd May at the Citywest Convention Centre, Dublin. The 2018 National Construction Summit is expected to attract more than 2,000 visitors, from across the country. The Minister for Housing, […]

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37 Communities to Become More Energy Efficient

    37 Communities to Become More Energy Efficient

Funded by the Department of Communications, Climate Action and Environment, the Sustainable Energy Authority of Ireland (SEAI) has announced that an initial €22 million will fund energy upgrades to 1,200 homes and 400 community and commercial buildings across 37 communities.  The support underpins total investment of €52 million and means the communities will have warmer […]

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€1.74 Billion Spent on Home Renovation Since 2013

    €1.74 Billion Spent on Home Renovation Since 2013

Irish homeowners have spent €1.737 billion in total through the Home Renovation Incentive (HRI) since its launch in 2013. This incentive has facilitated homeowners throughout the country in carrying out 107,386 home improvement projects over the last four years. These projects throughout Ireland have had an average spend of €16,187 per project, providing a huge […]

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Dún Laoghaire-Rathdown County Council Provides Over €742 Million For Future Development

    Dún Laoghaire-Rathdown County Council Provides Over €742 Million For Future Development

Dún Laoghaire-Rathdown County Council has agreed a Capital Expenditure Programme of over €742 million. The Three Year Capital Programme 2018-2020 will deliver a considerable number of infrastructural and housing projects that are of strategic importance to the County and the Region from both a social and an economic perspective. This will shape the development of […]

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Progress on Actions to Address Unfinished Housing Developments

    Progress on Actions to Address Unfinished Housing Developments

The Government has published the sixth annual progress report and seventh housing survey on tackling the issue of unfinished housing developments. This reveals a 91% reduction in the unfinished developments since 2010 from almost 3,000 to 256.  2017 saw the resolution of 165 developments.
The report includes the results from the 2017 National Housing Development Survey […]

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Four Times More New Houses Need to be Built in 2018 Compared to Last Year

    Four Times More New Houses Need to be Built in 2018 Compared to Last Year

Initiative Ireland, headquartered at NovaUCD, has launched a new annual housing report, entitled Housing 2031. The report was commissioned to provide a more accurate and consistent view of housing supply and demand over the last 25 years in the Republic of Ireland, to more reliably forecast true housing demand up to 2031.
Padraig W Rushe, CEO of […]

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Planning Scheme For Poolbeg Wins Overall Award For Excellence in Planning

    Planning Scheme For Poolbeg Wins Overall Award For Excellence in Planning

Dublin City Council’s planning scheme for a Strategic Development Zone (SDZ) on Dublin’s Poolbeg Peninsula was declared winner of the overall award for excellence in planning in Ireland by the Irish Planning Institute (IPI) at the Institute’s recent biennial awards gala. The scheme plans for up to 3,500 residential units along with substantial new commercial development, […]

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Development of Second-tier Cities Key to Sustainable Economic Growth

    Development of Second-tier Cities Key to Sustainable Economic Growth

Policies should aim to rebalance growth by encouraging regional development led by a small number of large urban centres outside Dublin, according to new ESRI research. If the current pattern of growth continues, it will lead to a further gap in prosperity between Dublin and the rest of the country. In Dublin, it will lead to additional […]

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Rebuilding Ireland Home Loan Introduced

    Rebuilding Ireland Home Loan Introduced

The Rebuilding Ireland Home Loan, a new Government-backed mortgage for first-time buyers, will be available nationwide from local authorities from Thursday, 1 February 2018. The loan can be used both for new and second-hand properties, or to build your own home.
In line with Central Bank rules, a person or couple can borrow up to 90% […]

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House Prices – More Onerous Rules For Non First-time-buyers Exacerbating Supply Issue

    House Prices – More Onerous Rules For Non First-time-buyers Exacerbating Supply Issue

The very slight moderation in house price inflation in the latest CSO house price data – from 11.6pc in the year to October to 11.3pc in November in Dublin and from 12.8pc to 11.7pc in the rest of the country in the same period, comes as no surprise as housing supply is still a gulf […]

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Residential Property Prices Rise by 11.6% in the Year to November

    Residential Property Prices Rise by 11.6% in the Year to November

In the year to November, residential property prices at national level increased by 11.6%, according to the CSO’s Residential Property Price Index November 2017 report. This compares with an increase of 11.8% in the year to October and an increase of 9.2% in the twelve months to November 2016.
In Dublin, residential property prices increased by […]

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Glenveagh Acquires Additional Sites to Deliver 660 Residential Units

    Glenveagh Acquires Additional Sites to Deliver 660 Residential Units

Glenveagh Properties, a leading Irish housebuilder listed on the Irish and London Stock Exchanges, has completed the acquisition of Brook Lane in Rush, County Dublin. Glenveagh has also signed an unconditional legal contract to acquire a development site at Millennium Park in Naas, County Kildare. These acquisitions have the combined potential to deliver in excess […]

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