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This week’s vital property news: the sub-prime hangover and tenant trouble for Irish Water

Everything you need to know in one quick guided tour.

SUB-PRIME MORTGAGE lending was synonymous with the economic crisis that started in 2008.

New information available this week has shown that the sub-prime sector is still a problem in the Irish market.

IKEA has also issued a request this week for customers to stop playing hide and seek in their stores, with things in the Netherlands getting out of hand.

The Big Movers

Sub-prime mortgages 

The amount of money that Irish mortgage holders owe to so-called sub-prime lenders has been on the increase. At the end of December 2014, 19,935 of this type of mortgage loan were in arrears for a period of more than 90 days.

In response to a parliamentary question from Fianna Fáil’s Michael McGrath, Minister for Finance Michael Noonan revealed that people with these types of loans were also much more likely to be in arrears than people who had taken loans with mainstream banks.

Michael Mcgrath Michael McGrath Source: Mark Stedman/Photocall

Sub-prime mortgages are given out by specialised lenders to clients who are unable to comply with the conditions that need to be met with a traditional institution.

The best of Airbnb

Airbnb is becoming a more popular means of finding short-term accommodation. This week TheJournal.ie took a look at some of the swankier properties listed on the website.

park hall The Park Hall at Ross Castle in Galway Source: Airbnb

While popular for people looking for a cheap way to get away – it also has plenty of choice for those willing to pay out a bit more. The property pictured above is available for €800 a night and sleeps 16.

house carlow ‘Glamorous Country House’ in Carlow Source: Airbnb

This luxury property in Carlow has six bedrooms and is available for €916 a night.

Irish Water

Council tenants in Limerick are upset this week after their details were passed on to Irish Water.

Residents received letters informing them that the council was obligated to hand over their information under the Water Services Act 2013. In the letter tenants were informed that their details would only be used to contact people who had not yet registered with the utility.

A number of tenants were unhappy about this and local Anti-Austerity Alliance councillor Cian Prendeville said, he had been “inundated with calls from council tenants”.  

Under Construction

men's health Congressman Aaron Schock has also posed for Men's Health magazine. Source: Men's Health

Des Res

Tom Cruise’s house in Beverly Hills has come onto the market for $13 million according to Business Insider. The home is gated and comes with a guest house on its 2.5 acres of land. The actor has other properties in Colorado and New York.

This week’s vital property news: the sub-prime hangover and tenant trouble for Irish Water
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  • Tom Cruise's Beverly Hills mansion

    Source: Business Insider
  • Tom Cruise's Beverly Hills mansion

  • Tom Cruise's Beverly Hills mansion

  • Tom Cruise's Beverly Hills mansion

  • Tom Cruise's Beverly Hills mansion

Finally…

Remember the Millennium Dome? The structure went on to be renamed the o2 arena and serve as a music venue, but in its initial form it was much maligned, being criticised right from the start for being too expensive and lacking purpose.

This week The Guardian spoke to some of the main people involved in the project.

London aerial stock Source: Dominic Lipinski/PA Wire

Read: This US billionaire has just bought ANOTHER Irish hotel

Photos: Peek inside the most expensive Airbnb listings in Ireland

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