WEEKLY PROPERTY ROUND-UP 15TH DECEMBER 2024

Weekly Irish property market news and insights – for the industry, bythe industry  

 Message from Carol Tallon: “

“According to an article in the Independent this week, just one in three people think owning a home outright by time they retire is now beyond them. This has a massive, negative impact on them and on the places where they find themselves – possibly temporarily. How can people build a life within their community, if they do not know where their community will be? Yet, just 5 derelict Cork city homes were brought back into use under Buy and Renew scheme – apparently the Council is “crying out” for property owners to help them bring vacant homes back to life, and they are not the only local authority struggling to get the government supports directly to the would-be homeowners who need them… where is the disconnect? And what can we do about it?

Maybe we could consider something similar to what the UK government is trying, seconding tech employees will to work in Whitehall for year-long stints to help government function “more like a startup” What difference would it make to Ireland’s forthcoming Programme for Government and, more importantly, the steps/approaches to deliver on housing demand? 

Building on the nationwide research that so many of you contributed to in 2023 and 2024, our rural proofing initiatives kick off in the new year, to coincide with the incoming government, email your local suggestions to carol@propertydistrict.ie. 

 On Thursday, the final episode of our ‘Women in Construction’ podcast with Joanne White, which was recorded before an audience at Bonham Quay in Galway, aired and you can listen back at https://ipropertyradio.com/women-in-construction/  If your construction organisation is struggling to attract talent right now, listen back to the entire series to hear what employers can do to attract and retain the right talent – and how the wider industry can make itself more attractive to the next generation.”

PROPERTY DISTRICT PRESS OFFICE 

Below are the local and international stories that might be of particular interest

• Is Ireland’s housing policy going around in circles? Between VAT, contributions and levies, new home buyers pay the state and lenders far more than they get back, writes Pat Davitt of the Institute of Professional Auctioneers & Valuers (Ipav) https://www.businesspost.ie/property/is-irelands-housing-policy-going-around-in-circles/

• One in three think owning home outright by time they retire is now beyond them https://m.independent.ie/business/personal-finance/one-in-three-think-owning-home-outright-by-time-they-retire-is-now-beyond-them/a57924127.html

• ‘Tech employees will be seconded to work in Whitehall for year-long stints to help the UK government function “more like a startup” under plans to rewire the state. Ministers will spend £100m on public sector reform as part of a shake-up of the workings of government…’ https://amp.theguardian.com/politics/2024/dec/08/uk-government-whitehall-startup-tech-worker-secondments

• Successful caps on English letting agents’ fees disprove the idea that it’s unwise to meddle with free markets https://theconversation.com/successful-caps-on-english-letting-agents-fees-disprove-the-idea-that-its-unwise-to-meddle-with-free-markets-240708

• ‘Robin Hood’ activists glue shut Airbnb lockboxes to protest overtourism in Italy: This comes as 30 million people are expected to visit Rome for the Jubilee Year next year https://www.irishexaminer.com/world/arid-41536097.html

• Taxpayers’ money is better spent on building houses than stuck in bank shares, says AIB chief Colin Hunt: CEO says the institution is primed to boost mortgage market as he notes national upsides of profitability and puts emphasis on green financing https://m.independent.ie/business/irish/taxpayers-money-is-better-spent-on-building-houses-than-stuck-in-bank-shares-says-aib-chief-colin-hunt/a1071767849.html

• Why talk of a half-point ECB rate cut just won’t go away: Government collapses in Germany and France, meanwhile, are darkening sentiment in the bloc’s two largest members https://www.businesspost.ie/markets/why-talk-of-a-half-point-ecb-rate-cut-just-wont-go-away/

• With a centrist government and strong balance sheet, is Dublin Europe’s safe haven for real estate capital? https://www.businesspost.ie/analysis-opinion/colm-lauder-with-a-centrist-government-and-strong-balance-sheet-is-dublin-europes-safe-haven-for/

• Ireland facing climate fines of up to €20 billion by 2030, fiscal watchdog warns: Previous estimate of €8 billion for climate compliance costs in the event of missing targets may be vastly underestimated https://www.businesspost.ie/news/ireland-facing-climate-fines-of-up-to-e20-billion-by-2030-fiscal-watchdog-warns/

• Demand for Irish green skills grows at twice the global average – IDA survey: Demand for green skills, such as operational efficiency and environmental impact assessment, is growing rapidly https://www.businesspost.ie/news/demand-for-irish-green-skills-grows-at-twice-the-global-average-ida-survey/

• “Good planning will lead to better, more cost-effective and sustainable housing: It’s a myth that complying with national planning policy is in conflict with policies to address the housing crisis”https://www.irishtimes.com/opinion/letters/2024/12/11/good-planning-will-lead-to-better-more-cost-effective-and-sustainable-housing/

• ‘I am afraid of what our house will be like after another winter’: new setback for families in defective concrete crisis: Over 100 homes in Donegal originally slated for demolition have had that decision reversed https://m.independent.ie/irish-news/i-am-afraid-of-what-our-house-will-be-like-after-another-winter-new-setback-for-families-in-defective-concrete-crisis/a175384278.html Also: Defective block homeowner speaks of terror during Storm Darragh https://highlandradio.com/2024/12/09/defective-clock-homeowner-speaks-of-terror-during-storm-darragh/

• ‘Devoid of logic’ – Engineer blasts plans to repair Donegal homes hit by defective concrete crisis rather than rebuild them https://m.independent.ie/irish-news/devoid-of-logic-engineer-blasts-plans-to-repair-donegal-homes-hit-by-defective-concrete-crisis-rather-than-rebuild-them/a568422751.html

• Landlords offering rent-free periods to entice tenants must disclose deals to regulator – RTB: Operators of new-build apartment blocks in Dublin have started to offer rent-free periods as competition for new tenants heats up in the market https://www.businesspost.ie/news/landlords-offering-rent-free-periods-to-entice-tenants-must-disclose-deals-to-regulator-rtb/

• Just 5 derelict Cork city homes brought back into use under Buy and Renew scheme – The Council is crying out for property owners to help them bring vacant homes back to life https://www.corkbeo.ie/news/local-news/just-5-derelict-cork-city-30586487

• Institute of Professional Auctioneers & Valuers: IPAV – representative body for auctioneers and estate agents with 1,400 members across Ireland –  is hiring as its long-serving chief executive officer will step down in 2025 https://www.businesspost.ie/news/top-jobs-ipav-eirgrid-and-bord-na-mona-among-those-hiring/

• Customer fury as Dublin windows company shuts with thousands in deposits: DK Windows was promoting Black Friday sales just a week before it went out of business https://www.irishtimes.com/your-money/2024/12/09/customer-fury-as-dublin-windows-company-shuts-with-thousands-in-deposits/

• Hibernia Real Estate Group’s assets fall below €1bn mark following €200m value hit: The property company, which owns a string of landmark Dublin office properties, was acquired in 2022 by a Canadian investment fund https://www.businesspost.ie/news/hibernia-real-estate-groups-assets-fall-below-e1bn-mark-following-e200m-value-hit/

• Inspectors raise more questions about lax board oversight at McVerry Trust: Report for AHBRA points to ‘serious’ governance failings in charity https://www.irishtimes.com/ireland/housing-planning/2024/12/10/inspectors-raise-more-questions-about-lax-board-oversight-at-mcverry-trust/

• False deeds used for two Dublin properties without owners knowing, court told: Businessman Philip Marley (53) and former solicitor Herbert Kilcline (63) plead guilty to offences in circuit criminal court case https://www.irishtimes.com/crime-law/courts/2024/12/09/false-deeds-used-for-two-dublin-properties-without-owners-knowing-court-told/

• Optimism among Irish chief financial officers falls due to economic uncertainty, survey reveals: The survey found the number of chief financial offers feeling ‘more optimistic’ about their companies’ financial outlook has fallen to just 19 per cent https://www.businesspost.ie/news/irish-cfo-optimism-falls-amid-economic-uncertainty-survey-reveals/

• Revolut reaches 3 million Irish customers milestone as it names new country manager https://www.businesspost.ie/tech-news/revolut-reaches-3-million-irish-customers-milestone-as-it-names-new-country-manager/

• Financial difficulties of Offaly-based home improvement company puts customers’ deposits in jeopardy https://m.independent.ie/regionals/offaly/news/financial-difficulties-of-offaly-based-home-improvement-company-puts-customers-deposits-in-jeopardy/a468374118.html

• A Brief Architectural History of the Domination of the Circle in “Ideal” Urban Plans: The power of the circle in urban planning lies not in its rigid geometry, but rather in its ability to unite rather than divide. https://architizer.com/blog/inspiration/stories/a-brief-architectural-history-of-the-domination-of-the-circle-in-ideal-urban-plans/

• Big Read: How Irish legal firm mergers are shaking up the market https://www.businesspost.ie/news-focus/big-read-how-irish-legal-firm-mergers-are-shaking-up-the-market/

• Ronan Group Real Estate (RGRE) has appointed Aidan Gavin, the former head of Cushman & Wakefield in Ireland, to the new post of chief investment officer. https://m.independent.ie/business/ronan-group-appoints-chief-investment-officer/a357036119.html

• Sherry FitzGerald CEO Steven McKenna to leave firm to ‘explore new opportunities’: McKenna has led the estate agent for nearly eight years having joined the company in 2008 https://www.irishtimes.com/business/2024/12/09/sherry-fitzgerald-ceo-steven-mckenna-to-leave-the-business-in-february-to-explore-new-opportunities/

• Irish architectural great Ronnie Tallon built a home far superior to Mies van der Rohe’s original. Time to protect it: Dublin glass-and-steel house is Ireland’s only private late-20th century home rated as of national importance. Tallon’s vision is threatened by a new home https://www.irishtimes.com/culture/art/2024/12/10/irish-architectural-great-ronnie-tallon-built-a-home-far-superior-to-mies-van-der-rohes-original-time-to-protect-it/

• ‘This is going to cripple the economy for years to come’ – fresh blow for Wexford as investor says advance factory is not currently viable  https://m.independent.ie/regionals/wexford/new-ross-news/this-is-going-to-cripple-the-economy-for-years-to-come-fresh-blow-for-wexford-as-investor-says-advance-factory-is-not-currently-viable/a1556039817.html

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If you missed last week’s round-up, you can catch up here: https://propertydistrict.ie/sunday-roundup/  As always, you might let me know if I have missed out on any relevant property news by emailing  carol@propertydistrict.ie.

PLACEMAKING: https://placeengage.com

Open public consultations and community engagement 

• Beautiful – Sustainable – Together: Aligned with Aarhus Convention transparency and New European Bauhaus principles, PLACEengage empowers communities, planners, and developers across Ireland’s public and private sectors to collaborate more effectively – Learn more at www.PLACEengage.com PLACEengage: Better placemaking, together.

• Traveller sites in south Dublin removed from plan due to ‘biodiversity considerations’: Sites earmarked for Traveller accommodation are set to be removed from forthcoming Traveller Accommodation Plan https://www.irishtimes.com/ireland/social-affairs/2024/12/09/traveller-sites-in-south-dublin-removed-from-plan-due-to-biodiversity-considerations/ Also: Dún Laoghaire-Rathdown Council drops three Traveller accommodation sites, adds three others: Enniskerry Road, UCD and Stillorgan Grove sites have ‘no likely prospect of development’, council officials said https://www.irishtimes.com/ireland/dublin/2024/12/10/dun-laoghaire-rathdown-council-drops-three-traveller-accommodation-sites-adds-three-others/. 

• Second phase commences on Kiltipper Park https://dublingazette.com/dublinlocalmatters/news/kiltipperpark-council-phase-55533/

• Contract signed for Ringaskiddy Active Travel and Urban Realm Scheme https://m.independent.ie/regionals/cork/news/contract-signed-for-ringaskiddy-active-travel-and-urban-realm-scheme/a2069082743.html

• New equipment to be purchased and extra staff recruited to tackle cleanliness issues in Cork city: Shane O’Callaghan proposed that the local authority introduce a new system whereby the city centre is “deep cleaned much more often and at regular intervals” https://www.echolive.ie/corknews/arid-41533424.html

• Developers want to add even more units to bring Cork city estate to over 500 homes: If approved, it would add more than 60 units to the blueprint for another huge southside development https://www.corkbeo.ie/news/local-news/developers-want-add-even-more-30587692

• Plans to bring large Kilkenny site back into community use advancing: Some time ago, the trustees of the facility made an approach to officials of Kilkenny County Council and the latter agreed to take possession of the facility https://www.kilkennypeople.ie/news/south-kilkenny/1676758/plans-to-bring-large-kilkenny-site-back-into-community-use-advancing.html

• Planning for Blessington greenway denied over water-quality, wildlife and skyline concerns: Inspectors said there was insufficient evidence to suggest water quality and local birds would not be impacted. https://www.thejournal.ie/blessington-greenway-planning-denied-6567615-Dec2024/

• Tipperary County Council approves plan for renovations to major Tipperary town: The plan was approved in a specially held meeting https://www.tipperarylive.ie/news/home/1677860/tipperary-county-council-approves-plan-for-renovations-to-major-tipperary-town.html

• Application to vary development plan of Longford village: The County Council planners have received a request to vary a previously granted application. https://www.longfordleader.ie/news/local-news/1679375/application-to-vary-development-plan-of-longford-village.html

• Report to assess the suitability of Mayo County Council taking in charge a beleaguered Ballindine housing estate is ‘imminent’, according to the local area engineer https://www.westernpeople.ie/news/next-step-in-long-running-mayo-estate-saga-is-imminent_arid-40658.html

• Mayo county town’s parish magazine, 53 years going strong https://www.con-telegraph.ie/2024/12/14/mayo-county-towns-parish-magazine-53-years-going-strong/

• Proposal lodged for construction of all-weather pitch in Carrigart: Donegal County Council is considering a planning application for the construction of a new all-weather pitch in Carrigart. https://www.ireland-live.ie/news/donegal-live/1677936/proposal-lodged-for-construction-of-all-weather-pitch-in-carrigart.html

• Row breaks out in Kerry over religious grotto amid plans to make site safer https://m.independent.ie/regionals/kerry/south-kerry-news/row-breaks-out-in-kerry-over-religious-grotto-amid-plans-to-make-site-safer/a1134199600.html

• Killarney residents have until 4:00 pm next Thursday, (December 19), to submit their feedback on the proposed redevelopment of Áras Phádraig. https://killarneyadvertiser.ie/news/deadline-for-ras-phdraig-redevelopment-submissions/

Rural & Islands

• Living in rural Ireland shouldn’t be an impossible dream: Balanced regional development means more than plonking cities here and there – other factors have to be taken into consideration, as Fianna Fáil has signalled https://www.irishtimes.com/opinion/2024/12/11/living-in-rural-ireland-shouldnt-be-an-impossible-dream/

• Rural communities can be important sources of social opportunities, meaningful relationships and informal support: “those who were reared and subsequently lived in rural areas were significantly more likely to be better engaged socially and less at risk of social and emotional isolation”https://www.agriland.ie/farming-news/rural-based-centenarians-show-the-way-in-new-research/

• Only 15% of public EV chargepoints are in rural areas – report https://www.ireland-live.ie/news/uk/1679594/only-15-of-public-ev-chargepoints-are-in-rural-areas-report.html

• Christmas tree farmer left stranded by damaged road – ‘all I want is to access my own land safely and do my work’ https://m.independent.ie/regionals/louth/dundalk-news/christmas-tree-farmer-left-stranded-by-damaged-road-all-i-want-is-to-access-my-own-land-safely-and-do-my-work/a1016569906.html

• 30ac Wicklow property sells for 44.5pc above guide price at auction https://m.independent.ie/regionals/wicklow/west-wicklow-news/30ac-wicklow-property-sells-for-445pc-above-guide-price-at-auction/a1310940337.html

CONSTRUCTION: https://breakingground.news

• What we really need is a low-cost Ryanair for housing: The construction industry says it can’t build homes at affordable rates or for people on average incomes, but is the cost of construction really the obstacle? https://www.irishtimes.com/business/economy/2024/10/27/what-we-really-need-is-a-low-cost-ryanair-for-housing/

• Stockbrokers Davy says 34,000 new homes will be built in Ireland this year – a marginal increase on 2023 when 32,695 were finished https://www.rte.ie/news/business/2024/1209/1485454-davy-economic-outlook/

• Housing output to reach 40,000 units next year: Construction output — including non-residential and civil engineering — is forecast to grow by 1.4% in 2024 and 6% in 2025 https://www.irishexaminer.com/business/economy/arid-41532437.html

• BAM begins High Court proceedings against board of national children’s hospital: Dispute arises from claim made by builders for additional payments from facility’s development board for work on project https://www.irishtimes.com/health/2024/12/10/bam-begins-high-court-proceedings-against-board-of-national-childrens-hospital/

• Taoiseach Simon Harris has said he is satisfied that a very robust and rigorous process has been followed in relation to a major construction contract which is set to be awarded to Invesis, a company controlled by the BAM group https://www.rte.ie/news/politics/2024/1211/1485856-taoiseach-bam/

• Cosgrave family settle row over control of construction group companies: High Court told action by Joe Cosgrave’s widow, Denise Cosgrave, was a ‘source of considerable upset’ to all participants https://www.irishtimes.com/business/2024/12/09/cosgrave-family-settle-row-over-control-of-construction-group-companies-a/

• Fresh planning appeal for nursing home near broadcaster Pat Kenny – Developer Bartra first lodged plans for the contentious 104-bedroom home in April 2021 https://www.irishtimes.com/business/2024/12/13/fresh-planning-appeal-for-nursing-home-near-broadcaster-pat-kenny/

• Camden Yard to be sold next year after funds dry up: The site is likely to be put on the market in 2025 https://www.thetimes.com/world/ireland-world/article/camden-yard-to-be-sold-next-year-after-funds-dry-up-fjpfbsmdc

• Bartra challenges planning refusal for Old Navan Road apartments: Brady’s Public House scheme, including 56 apartments, attracted 75 objections https://www.irishtimes.com/business/2024/12/12/bartra-challenges-planning-refusal-for-old-navan-road-apartments/

• Work to install €8.5m River Lee bridges continues despite event centre delays: Steel bridge structures are currently under fabrication in Co Carlow, with the first bridge due to be delivered in the first half of next year. https://www.irishexaminer.com/property/developmentconstruction/arid-41535002.html

• Planning sought for residential scheme at former Cope Foundation site in Cork city: The planning application makes provision for a mixed-use project including 35 units, community hub, discount store and off-licence.  https://www.echolive.ie/corknews/arid-41536091.html

• US company BioMarin to invest €60m in Cork facility: The company employs more than 500 people in Ireland https://www.businesspost.ie/tech-news/us-company-to-invest-e60m-in-cork-facility/

• Another bid at apartment development near Cork city quays: The Cork investor wants to build a new five-story apartment block just off the quays https://www.corkbeo.ie/news/local-news/another-bid-apartment-development-near-30561579

• LDA in talks to partner on ambitious Marina project as first house visible at former Cork hospital site: The Land Development Agency is in talks with Glenveagh Properties about their 1,000-apartment plan for the Marina Quarter  https://www.irishexaminer.com/property/developmentconstruction/arid-41534882.html

• Developers resubmit plans to demolish former Cork convent to build student accommodation: Refined plan includes two apartment buildings, two to five storeys in height, which will include 57 apartments. The development also includes 73 studio apartments https://www.irishexaminer.com/property/developmentconstruction/arid-41534618.html

• Cork County Council gives green light for 122 new homes in Little Island: Ruden Homes Ltd had lodged application for 172 homes https://www.irishexaminer.com/news/munster/arid-41534468.html

• Macroom man withdraws appeal as private school in Cork City gets go-ahead for major extension https://www.irishexaminer.com/news/munster/arid-41534402.html

• Fisheries Field to be developed as a park https://connachttribune.ie/fisheries-field-to-be-developed-as-a-park/

• Fraud, coercion, and undue influence alleged in Galway land row: The proposed development of a multimillion-euro residential property development in Galway city has stalled in a row over the purchase of the lands from its now-deceased owner. https://thecurrency.news/articles/172282/fraud-coercion-and-undue-influence-alleged-in-galway-land-row/

• OWNER of Arthur’s Quay Shopping Centre has warned that council’s plans for the surrounding area would put its businesses under “severe threat”. – Mark Tiernan, Tiernan Properties says the proposals would be “ruinous” to the shops in his centre which pay a total of around €320,000 per year in commercial rates, and support 350 jobs https://www.ireland-live.ie/news/limerick-live/1677592/limerick-developer-rejects-land-grab-theory.html

• Multi-million euro plan to spark ‘renewal’ of Limerick village: Plans to upgrade former Doon convent for independent living https://www.limerickleader.ie/news/planning/1678311/multi-million-euro-plan-to-spark-renewal-of-limerick-village.html

• Major development plans approved for school in Kilkenny: Permission was granted by Kilkenny County Council, subject to 14 conditions, on November 26 https://www.ireland-live.ie/news/kilkenny-live/1677174/major-development-plans-approved-for-school-in-kilkenny.html

• Wicklow’s Bray Central in crisis as cinema plans face uncertain future: Questions mount over shopping centre’s future after receivers appointed to company co-owned by Paddy McKillen jnr; council admits it has no information about fate of  Stella Cinema https://m.independent.ie/regionals/wicklow/bray-news/wicklows-bray-central-in-crisis-as-cinema-plans-face-uncertain-future/a1106423331.html

• Flagship tourist facility planned for Hodson Bay https://www.westmeathindependent.ie/2024/12/13/flagship-tourist-facility-planned-for-hodson-bay/

• Abbeyleix shop planned to be knocked for new apartments and houses: Laois County Council to consider plan for 28 new homes https://www.leinsterexpress.ie/news/property/1679120/abbeyleix-shop-planned-to-be-knocked-for-new-apartments-and-houses.html

• Duggan family plans to develop derelict site in Co Wicklow https://m.independent.ie/regionals/wicklow/bray-news/duggan-family-plans-to-develop-derelict-site-in-co-wicklow/a1188884077.html

• Healthcare suites and other facilities have been given the green light in Portarlington. Planning permission was granted for the project on Canal Road by Laois County Council on December 5. https://www.ireland-live.ie/news/kildare-now/1677172/green-light-for-new-consultation-rooms-in-portarlington.html

• Luxury apartments being planned for former Offaly public house: Work currently underway at landmark premises in Tullamore town centre https://www.offalyexpress.ie/news/local-news/1679503/luxury-apartments-being-planned-for-former-offaly-public-house.html

• Tullamore: Fitzpatrick & Heavey Homes have acquired a residential landbank with planning permission for 150 homes at Ardan and Puttaghaun between the Midland Regional Hospital and the proposed Wellwood hospital https://www.offalyexpress.ie/news/home/1677504/another-150-homes-on-way-in-offaly-with-work-about-to-start.html

• Scoil Íosagáin in Buncrana gets go-ahead to procced to construction: The new building of 6,335sqm will be constructed in two phases, with the third phase will involve the construction of three hardball courts, car parking and associated siteworks https://www.ireland-live.ie/news/inish-live/1676838/scoil-iosagain-in-buncrana-gets-go-ahead-to-procced-to-construction-with-new-build.html

• Building of 31 social houses to begin in Inishowen in February: Two social housing developments will be constructed in Carndonagh and Gleneely https://www.ireland-live.ie/news/donegal-live/1680178/building-of-31-social-houses-to-begin-in-inishowen-in-february.html

Construction Careers

• Builders and accountants most sought after employees: Findings from IrishJobs suggest roles within the construction industry are most in demand from employers https://www.businesspost.ie/news/builders-and-accountants-most-sought-after-employees/

• Suir Engineering announces 200 new apprentice roles: The announcement is part of the company’s European growth strategy and the ‘urgent’ need, right across the sector, for more highly skilled and trained workers https://www.businesspost.ie/news/suir-engineering-announces-200-new-apprentice-roles/

PODCAST: https://ipropertyradio.com/breaking-ground/

Produced by Katie Tallon MPRII, with Hear Me Roar Media on sound

Breaking Ground is sponsored by PLACEengage – Your Virtual Town Hall, a data-driven platform for more successful public consultation and community engagement for your next development project https://placeengage.com/  

Watch back and listen back: https://ipropertyradio.com/breaking-ground/ 

WOMEN IN CONSTRUCTION

Breaking Barriers: Women Leading Construction’s Future

The inaugural ‘Women in Construction’ podcast wraps up its series with a truly unforgettable episode, filmed at the stunning Bonham Quay in Galway. With the sunset providing a spectacular backdrop, this finale celebrates the progress, innovation, and stories shaping the construction industry. A huge thank you to Triona Barrett, Hospitality Director, and Paddy Mc Donald, Director of Edward Capital, for making this iconic location possible for our recording.

Host Joanne White is joined by two inspiring guests for this special finale: 

• Mary Whitney- Chief Operating Officer of Future Cast, one of the podcast’s fantastic sponsors. Mary discusses the Erasmus and FEMCON projects, spotlighting a groundbreaking curriculum developed to help VET practitioners and companies attract and retain women in construction. She highlights the importance of empowering organizations to embrace diversity and create lasting change.
• Deirdre Doyle- Architect with BDP (Building Design Partnership Ltd) and a key figure in the construction of Bonham Quay. Deirdre reflects on her journey designing and delivering this iconic building, sharing insights into her experiences and the impact of her work on the construction industry.

Sponsored by  Future Cast https://futurecast.info/ and  Industry 4.0 Skillnet https://industry4skillnet.com/ 

Produced by Caoimhe Scully, with sound by Hear Me Roar Media

Watch back and listen back: https://ipropertyradio.com/women-in-construction/ 

REAL ESTATE: uat.irishrealestate.news

Residential 

• Irish house prices overvalued by 10%, increasing risk of a ‘painful correction’, ESRI warns: Economic think tank cautions that increasing number of Irish households are carrying ‘elevated’ levels of mortgage debt https://www.irishtimes.com/business/2024/12/12/irish-house-prices-overvalued-by-10-ersi-warns/ Also: ESRI: “The accelerated increase in house prices experienced so far in 2024 has led to concerns in the domestic market about the sustainability of such increases and the prospect of a painful correction such as that witnessed between 2007 and 2012” https://www.rte.ie/news/business/2024/1214/1486383-david-murphys-housing-analysis/

• Majority of people say cost is a barrier to retrofitting their home, survey finds: Significant numbers unaware of grants for such work, AIB says https://www.irishtimes.com/business/2024/12/11/majority-of-people-say-cost-is-a-barrier-to-retrofitting-their-home-survey-finds/

• ‘I’ve heard of landlords exploiting loopholes by increasing parking or utilities’: In one ‘shocking’ case, the rent on an apartment almost doubled — up €900 a month when RPZ rules say it should have risen €24: Rent register could close new lease loophole https://www.irishexaminer.com/news/spotlight/arid-41531783.html

• Ballsbridge house sells for €1.635 million, six years after sham sale: Property on exclusive St Mary’s Road in Dublin 4 became derelict and mired in ‘truly extraordinary’ legal case https://www.irishtimes.com/ireland/dublin/2024/12/11/ballsbridge-house-sells-for-1635-million-six-years-after-sham-sale/

• An 1890s bijou cottage in Portobello for sale for €432,000: Grainne Rothery’s pick of the properties available to buy in Ireland this week https://www.thetimes.com/world/ireland-world/article/an-1890s-bijou-cottage-in-portobello-for-sale-for-432000-l5tnbjjfn

• Starter Homes: Four Cork properties on the market from €185k: First-time buyers can choose from homes across Midleton, Shanakiel and Cork city centre https://www.irishexaminer.com/property/residential/arid-41532851.html

• Council to run the rule over Portobello house revival as Hugh Wallace deviates from the plan. Plus: Michael H Burke not sweating it over Ailesbury Road house price https://www.irishtimes.com/ireland/2024/12/15/council-to-run-the-rule-over-portobello-house-revival-as-hugh-wallace-deviates-from-the-plan/

• Microcement is transforming our homes into havens of quiet luxury: We talk to homeowners and pros in Cork, Kerry and Dublin who love the material known for its high-end aesthetic and finish https://www.irishexaminer.com/property/homeandgardens/arid-41533916.html

• A Game of Thrones castle and a squash court: NI’s most quirky properties – HomesNI showcase 12 most quirky and unique properties in Northern Ireland https://m.belfasttelegraph.co.uk/life/features/a-game-of-thrones-castle-and-a-squash-court-nis-most-quirky-properties/a883936431.html

Property of the week 

• Pedigree property: €4.5m North Cork estate linked to legendary trainer Vincent O’Brien: Mount Corbitt in Cork’s Churchtown is steeped in steeplechase lore and blue-blooded stock: No wonder it’s estimated at €4.5m https://www.irishexaminer.com/property/residential/arid-41535650.html

Commercial 

• Retail: Vacancies decline as new brands enter Irish market – It has been most traded asset class so far in 2024, accounting for over 33% of overall property activity https://www.irishtimes.com/property/commercial-property/2024/12/04/retail-property-vacancies-decline-as-new-brands-enter-irish-market/

• State to buy Citywest Hotel to confront migrant crisis: Cost to acquire iconic property could top €100 million with other hotels eyed https://www.businesspost.ie/news/revealed-state-to-buy-citywest-hotel-to-confront-migrant-crisis/

• Dublin cleaners make ‘difficult decision’ to close after over four decades of serving community: The cleaners have thanked their loyal customers and staff after 46 years in the business https://www.dublinlive.ie/news/dublin-news/dublin-cleaners-make-difficult-decision-30562200

• Owner of Big Mike’s restaurant upbeat despite revealing business has entered rescue process: Gaz Smith had closed his restaurant Michael’s earlier this year in order to focus on Big Mike’s https://www.businesspost.ie/news/owner-of-big-mikes-restaurant-upbeat-despite-revealing-business-has-entered-scarp/

• GameStop’s Irish subsidiaries pay out €380m as wind-up completes: The majority was distributed from the company that owned the intellectual property for GameStop in Europe https://www.businesspost.ie/news/gamestops-irish-subsidiaries-pay-out-e380m-as-wind-up-completes/

• Zurich Insurance moves into new offices along Dublin quays: The property is located on Sir John Rogerson’s Quay https://www.businesspost.ie/property/zurich-insurance-moves-into-new-offices-along-dublin-quays/

• Zara owner reports weaker than expected quarterly results: Sales for Inditex increased in the first nine months of 2024, but fell below analyst expectations. https://www.businesspost.ie/news/zara-owner-reports-weaker-than-expected-quarterly-results/

• Luxor Leisure invests €45 million in new Radisson Red hotel: The hotel is the first one opening under the brand name in Ireland and is part of a wider development plan that will cost in excess of €500 million https://www.businesspost.ie/news/luxor-leisure-invests-e45-million-in-new-radisson-red-hotel/

• Well-known Limerick retailer to open pop-up boutique in city https://www.live95fm.ie/news/live95-news/well-known-limerick-retailer-to-open-pop-up-boutique-in-city/

• ‘Local business family’ buys landmark Roscommon town property https://www.shannonside.ie/news/local-business-family-buys-landmark-roscommon-town-property-254385

• Two significant Mayo property sales approved https://www.con-telegraph.ie/2024/12/10/two-significant-mayo-property-sales-approved/

PODCAST: The Property Roundup on iPropertyRadio.com

What mortgage trends in 2024 tell us about the likely market in 2025

For the final ‘Property Roundup’ show of 2024 –  and the first to be recorded at our new iProperty Radio studios in the heart of  Connemara – we are delighted to be joined by returning guest  Sean Corbett QFA, Head of Mortgages at SYS Mortgages 👉 https://sysmortgages.ie/  We discuss market uncertainty, switching mortgages, buy-to-let mortgages and market expectations for 2025

Watch/ listen back: https://ipropertyradio.com/property-roundup/ 

FACEBOOK group for homebuyers and investors in Ireland 2024: https://www.facebook.com/groups/IrishPropertyBuyers/ 

Further property resources at: https://www.amazon.com/Carol-Tallon/

PROPTECH: https://prop-tech.ie/

Proptech Ireland is updating the database of 2024 Irish technology providers for the built environment – sign up here: https://prop-tech.ie/register/  and email product or service details to hello@prop-tech.ie

• Proptech Ireland: Ireland’s CONSTRUCTION and REAL ESTATE ESG technologies resource hub. Confused about how and where to start on your ESG journey? Contact us 👉https://prop-tech.ie

• Business leaders react to Leo Clancy’s shock departure from Enterprise Ireland https://www.businesspost.ie/tech-news/business-leaders-react-to-leo-clancys-shock-departure-from-enterprise-ireland/

• ISIF to pump additional €100m into female-led investment funds https://m.independent.ie/business/irish/isif-to-pump-additional-100m-into-female-led-investment-funds/a2134290712.html

• Drone surveys in north Longford town to help inform planning and design of N55 by-pass https://www.longfordleader.ie/news/local-news/1676044/drone-surveys-in-north-longford-town-to-help-inform-planning-and-design-of-n55-by-pass.html

• Proptech Next Sense secures €11.5M for its smart building platform: Next Sense enables clients to decarbonise their buildings across the entire lifecycle optimising operations through AI-powered monitoring and control solutions. https://tech.eu/2024/12/10/proptech-next-sense-secures-11-5m-for-its-smart-building-platform/

• UK Proptech sector “addressing national economic and social issues and helping to tackle the climate crisis.”  https://www.estateagenttoday.co.uk/breaking-news/2024/12/proptech-sector-slaps-itself-on-the-back-as-europes-most-successful/

PODCAST: The Proptech Hot Seat on iPropertyRadio.com

Proptech Hot seat is sponsored by Proptech Ireland, the hub for innovators, investors and industry leaders https://prop-tech.ie/ 

Watch/ listen back: https://ipropertyradio.com/proptech-hot-seat/

INFRASTRUCTURE, ENERGY, ENVIRONMENT & BIODIVERSITY

• High Court refers Dublin Airport cap to Europe: Airlines in challenge to passenger limit sought move https://www.irishtimes.com/business/2024/12/11/high-court-refers-dublin-airport-cap-to-europe/

• Gap between the volume of green electricity generated and sold in Ireland is widening: New figures for 2023 show energy providers are increasingly relying on ‘green certificates’ from other countries to increase the volume of green energy they sell https://www.businesspost.ie/news/gap-between-the-volume-of-green-electricity-generated-and-sold-in-ireland-is-widening/

• First phase of energy infrastructure and data centre development  “intended to act as a catalyst for wider redevelopment of the overall landholding for a mix of high technology, manufacturing, and commercial uses, based on a local energy and heat network https://www.irishtimes.com/business/2024/12/10/an-taisce-warns-that-drogheda-data-centre-would-compromise-ability-to-comply-with-carbon-limits/

• Contract signed for major development in Ringaskiddy https://www.c103.ie/news/c103-news-and-sport/contract-signed-for-major-development-in-ringaskiddy/

• Waterford City and County Council North Quays Update December 2024 https://waterfordcouncil.ie/waterford-city-and-county-council-north-quays-update-december-2024/

• Saving Rosslare’s coastline: What are the five options being considered to tackle Wexford’s erosion crisis? https://m.independent.ie/regionals/wexford/wexford-district/saving-rosslares-coastline-what-are-the-five-options-being-considered-to-tackle-wexfords-erosion-crisis/a1349697292.html

• Large company in Offaly given green light for solar farm to power facility: Large company in Offaly given green light for solar farm to power facility https://www.ireland-live.ie/news/offaly-live/1676864/large-company-in-offaly-given-green-light-for-solar-farm-to-power-facility.html

• Plans lodged for construction of EV charging infrastructure in Longford https://www.shannonside.ie/news/plans-lodged-for-construction-of-ev-charging-infrastructure-in-longford-254524

• Pinergy, the Irish energy transition company, has announced that Sojitz, a Japanese conglomerate, has bought a 98pc stake in the business https://m.independent.ie/business/japanese-company-buys-98pc-of-pinergy/a1161283708.html

INTERNATIONAL NEWS

• UK Planning reforms: Is the industry happy with Labour’s work so far? https://www.pbctoday.co.uk/news/planning-construction-news/planning-reforms-is-the-industry-happy-with-labours-work-so-far/146699/

• Cost of buying average home in England now unaffordable, warns ONS: Only richest 10% can afford to buy as figures show average household needs 8.6 times disposable income to meet asking price https://amp.theguardian.com/money/2024/dec/09/cost-of-buying-average-home-in-england-now-unaffordable-warns-ons

• Labour’s British building boom not possible, construction authorities say: Asked Labour’s vow to build 1.5 million homes is achievable, Barratt Redrow chief executive David Thomas said: “The short answer is no.” https://www.irishnews.com/news/uk/labours-british-building-boom-not-possible-construction-authorities-say-TSOVWHLSYFMH7BRRNWX5A7BJWY/

• UK perspective: I’ve seen how declining British high streets can be brought back to vibrant life https://www.theguardian.com/commentisfree/2024/dec/09/british-high-streets-landlords-community-empty-shops

• Can Factory-Built Apartment Complexes Solve America’s Housing Crisis? https://www.forbes.com/sites/amyfeldman/2024/12/09/can-factory-built-apartment-complexes-solve-americas-housing-crisis/

• People are exhausted, angry and anxious: what I learned from your stories of Australia’s housing affordability crisis https://www.theguardian.com/australia-news/2024/dec/10/housing-affordability-crisis-australia-reader-stories-what-i-learned

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