Construction BUSINESS

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

 Breaking News
  • €100 Million Investment For Four Capital Developments at Trinity College Dublin Teaching, research and student accommodation at Trinity College Dublin will be transformed over the next two years with the backing of a €100 million long-term European Investment Bank (EIB) loan for four capital developments across the campus. This will include the flagship E3-Engineering, Environment and Emerging Technologies initiative at Trinity. Central to the vision of E3 [...]...
  • British Construction Market Growth Prompts Investment by Garage Doors Garage Doors in Ballymena is recruiting 17 additional staff to help deliver growing sales across Great Britain. The family business is a leading manufacturer of bespoke garage doors and is expecting its sales to grow by 50 per cent over the next three years due to a buoyant UK construction sector. Speaking about the investment, Peter [...]...
  • 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 [...]...
  • Kingspan Joins Science Based Targets Initiative to Reduce Greenhouse Gas Emissions Kingspan Group, a global leader in high performance insulation, building fabric, and solar integrated building envelopes, has joined over 370 companies worldwide in committing to the Science Based Targets Initiative (SBTi) to reduce greenhouse gas (GHG) emissions. The initiative is a partnership between the World Resource Institute, the World Wildlife Fund, CDP (formerly the Carbon [...]...
  • 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 [...]...

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
August 27
09:01 2018

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 June from 10.7pc in the year to May and 12.5pc to April, Brokers Ireland said this has now clearly become an established trend.

Rachel McGovern, Director of Financial Services at the organisation which represents almost 1,300 broker firms, said: “The increases in the rate of inflation outside of Dublin are coming from a much lower level than Dublin and are indicative of an improving economy, with the exception of the Border region, which at 4.9pc points to grave uncertainty around Brexit. In contrast to the most other areas which have double-digit growth, some beyond the 20pc level, it is quite stark.”

Rachel McGovern, Director of Financial Services at Brokers Ireland which represents 1,300 impartial broker firms throughout Ireland.

“While there is large pent-up demand, particularly in Dublin, with overall demand nationally estimated to be of the order of 40,000 a year, the slowing rate of increase in Dublin is probably due to a confluence of factors, not least of which involve an increasing supply including offloading of properties by lenders and affordability being stretched. There is also the real possibility of ECB interest rate increases from late 2019,” she said.

“This tapering of increases in Dublin is to be welcomed, otherwise the market would be at risk of becoming unsustainable,” she added.

And she said since there is a lag in the CSO Index, being based on Revenue stamp duty returns, the level of increase in Dublin could well be even lower at this stage.

However, she explained that the situation for much of the Rest of Ireland is very different.

Brokers Ireland previously pointed to CSO’s data showing a mere 14,446 new dwellings were completed in 2017. On that basis last year’s supply level would need to increase by well over 176pc to satisfy estimated current yearly demand.

About Author

admin

admin

Related Articles


Constrcution Summit

PROMO – Construction Summit 2016 – Sustaining the Momentum

Lean Construction Ireland – Enhancing Ireland’s Competitive Advantage

The Magazine – Construction Business

The Magazine – Construction Summit 2016

The Magazine – Construction Summit

Upcoming Events

  • October 17, 2018SAIE - International Building
  • October 18, 2018Interieur 2018
  • October 24, 2018Artibat
  • October 24, 2018London Build 2018
AEC v1.0.4

New Subscriber





Subscribe Here



Advertisements