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This week’s vital property news: Owners of derelict houses to get up-front rent from local councils

Everything you need to know in one quick guided tour.

PastedImage-23365 Source: Rebuilding Ireland

The Big Movers

Local councils are funding renovations of derelict houses 

A new “Repair and Leasing Scheme” will allow local authorities to pay rent to owners of derelict homes, in exchange for leasing the house to the local authority for five years so it can be used as a social housing. The property will then be returned to the homeowner.

80% of properties are too expensive for people on rent supplement

The Simon Community has released a report showing that only 20% of rental properties are within the reach of people on rent supplement. Eight properties were available for a single person and 11 available to couples.

Under Construction

Source: Daft.ie

  • The Daft.ie report has shown that house prices have risen on average 7.6% nationwide over the summer.
  • The First Time Buyers’ scheme will not help with the housing crisis, according to a report in the Irish Times, citing a similar scheme in the UK where George Osborne ignored warnings that such a policy could lead to a further property bubble.
  • Irish development company Genvest is seeking planning permission for a 24,000 square metre office scheme near Dublin Airport, according to a report in the Irish Independent. The scheme is named Capital Gate and phase one planning has been lodged.

For Sale Imagery Source: Daft.ie

Des Res

This New York horse farm, Lightning Tree Farm, owned by Johnson & Johnson heiress Elizabeth Ross is for sale for $28.5 million (approximately €25.3 million). It has 600 acres, an 18-stall horse stable, movie theatre, nine bedrooms and eight bathrooms. It also has a stunning outdoor pool and is just 90 miles from New York City.

This week’s vital property news: Owners of derelict houses to get up-front rent from local councils
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  • Lightning Tree Farm

  • Lightning Tree Farm

  • Lightning Tree Farm

  • Lightning Tree Farm

    Source: Business Insider
  • Lightning Tree Farm

  • Lightning Tree Farm

  • Lightning Tree Farm

  • Lightning Tree Farm

  • Lightning Tree Farm

  • Lightning Tree Farm

All images: Business Insider

And Finally…

The Royal Institute of Architects in Ireland’s Annual Conference will be held at the RDS, Dublin on the 25 and 26 November and will feature Lenny Abrahamson and Kevin Barry discussing space and creativity. Tickets can be booked at RIAI.ie.

Read: Average price of a home is now over €200,000

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About the author:

Edel Corrigan

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