Construction BUSINESS

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

 Breaking News
  • Masterplan Approved For Osborne+Co’s £400 Million Belfast City Project Osborne+Co’s proposals for The Waterside Belfast, a £400 million masterplan to regenerate the former Sirocco Works site in Belfast, have been approved by Belfast City Council’s Planning Committee. The award winning masterplan, designed by international architects Henning Larsen, seeks to re-engage the city with the River Lagan, and through the development of office space for c. [...]...
  • Chadwicks to Sponsor the Leinster GAA Chadwicks Club Hurling League Chadwicks and Leinster GAA have announced details of a partnership that will see Ireland’s leading supplier of building materials, bathrooms, heating products & home and garden products become the new sponsor of the Leinster GAA Chadwicks Club Hurling League (formerly the Leinster GAA Adult Club Hurling League). It is Chadwicks first step into sponsorship of the [...]...
  • Limerick National School is Top of the Class in the Public Choice Award at the RIAI 2019 Architecture Awards The Royal Institute of the Architects of Ireland (RIAI) has announced An Ríocht, Scoil Chríost Rí, Boys National School, Caherdavin, Limerick (pictured above), designed by Drake Hourigan Architects, as the winner of the Public Choice Award at the RIAI Architecture Awards 2019. The school which is located on the northside of Limerick City beat off tough competition from a shortlist of 41 projects [...]...
  • Sisk Reports Strong Performance For 2018 Sicon Limited, which is the holding company for Sisk’s construction and construction related activities in Ireland, the United Kingdom and a number of international markets, has reported a 24% increase in turnover to just under €1.2 billion and a pre-tax profit of €28.3 million for the year ended 31 December 2018. Over 97% of the [...]...
  • Ireland’s Most Energy Efficient Residential and Commercial Building Projects Honoured at 2019 ISOVER Awards Simply Architecture, and their new build residential project – ‘The Fairways’ in Cork – has been named the winner of the 2019 Overall ISOVER Award, as well as Designer of the Year 2019, at the third ISOVER Awards. The awards ceremony, which took place recently at the Smock Alley Theatre in Dublin, saw over 100 [...]...

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

  • No upcoming events
AEC v1.0.4

New Subscriber

Subscribe Here



Advertisements