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EVERY WEEK, WE bring you all the news you need to know about the property market.

The Big Movers

47,000 new social houses on the cards

The government pledged this week to spend €5 billion building 47,000 social houses over the next five years. The move is part of the government’s new plan to address the housing crisis, which also includes proposals to improve the rental sector and address homelessness.

A new town for Dublin

There’s a new town on the cards for Cherrywood in Dublin, which has just been granted planning permission. Ground will be broken in the next few weeks according to managing director of US-based property developers Hines,  Brian Moran.

Under Construction

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• A new help-to-buy scheme for first time buyers is expected to be announced on Budget Day later this year, with the scheme to be backdated to this week. It’s expected the package will be a tax-rebate scheme.
  
• The silos at Boland’s Mills in Grand Canal Dock have been fully demolished to make way for the new development. It took 242 days to tear them down. The development is due to be finished by 2018.
• Housing Minister Simon Coveney has announced €25 million in funding for the regeneration of the Dolphin House estate in Dublin.

Des Res

Matt Lauer, the host of the popular Today Show on US station NBC, has put his Hamptons house on the market for $18 million (approximately €16.3 million). Fancy a look around? Check it out here: