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This week’s vital property news: House demand in Ireland won't be met until 2020

Everything you need to know in one quick guided tour.

The Big Movers

construction in Dublin Docklands Source: Salim Virji via Flickr/CC

Lack of houses available to buy is holding back housing market

Stockbroker and asset management firm Davy has stated in a report this week that it could be more than three years before Ireland’s housing needs are met. The report also said the lack of house-building was holding back the market.

The Central Bank outlines problems with first-time buyers scheme

The Central Bank’s governor has outlined the issues the Bank has with the new first-time buyers scheme – including the scheme running the risk of reducing activity and putting pressure on house prices.

Under Construction

Source: RollingNews.ie

  • An analysis of the 2016 Census has revealed that there are over 10,000 vacant houses in 17 of the larger towns around Ireland, many within commuting distance of Dublin. Architecture Officer for the Heritage Council, Colm Murray, said this and a ‘living city tax incentive’ could provide badly need homes without building or much spending.
  • There is a new 20% tax being applied to property funds that send certain types of distributions abroad, in a move to target vulture funds moving assets abroad.
  • Stockbroker and asset management company Davy, analysing data released by the Central Statistics Office, has said that the first-time buyers scheme will probably increase house prices by up to 5% next year.

Source: Daft

Des Res

Fancy a look inside of one of the houses on London’s Billionaire’s Row? This £25 million house (approximately €28 million) is on a street that has seen residents such as Justin Bieber and the Sultan of Brunei.

This week’s vital property news: House demand in Ireland won't be met until 2020
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  • Billionaire's Row

  • Billionaire's Row

  • Billionaire's Row

  • Billionaire's Row

  • Billionaire's Row

  • Billionaire's Row

  • Billionaire's Row

  • Billionaire's Row

  • Billionaire's Row

All images: Business Insider

And Finally…

The Royal Institute of the Architects of Ireland (RIAI) have released the line-up for their RIAI 2016 Annual Conference. Speakers will include Irena Bauman, Professor Ian Robertson and Teresa Borsuk and will address topics including ‘How to be a Happy Architect’, ‘The Winner Effect’ and ‘Running a Successful Practice’.

Read: What is the solution to Dublin’s rental crisis?

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About the author:

Edel Corrigan

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