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Dublin Airport runway gets Leo's go-ahead: 5 things to know in property this week
Plus, €100m pledged for social housing – and changes to Dublin Bus routes.
THE WORLD OF property is a busy one, with so many stories making the headlines that it can sometimes be hard to keep up. That’s why we’ve created your property news cheat sheet, perfect for rounding up the week’s big stories.
This week, Dublin Airport is getting a new runway, and new building in Co Wexford is making headlines…
1) Taoiseach backs new Dublin Airport runway
Dublin Airport will get its long-awaited €320 million runway, Leo Varadkar told the Dáil this week. The runway, which DAA has said is badly needed, was promised in 2007 but shelved due to recession and a number of legal challenges.
Fine Gael have thrown their support behind the building of the runway, despite the concern about noise pollution for residents, which Varadkar stated has been superseded by new EU rules.
2) Dublin commutes get easier as 17 buses change routes
After traffic in central Dublin ground to a standstill back in December, changes were made to several bus routes in order to improve flow – and they appear to have had the desired effect. Commuters noted that gridlock eased after the changes came into effect on Monday morning, though some still reported problems.
In total, 17 bus routes have been modified, and Dublin Bus will continue to monitor traffic to see if further changes need to be made.
3) €100m in loans for social housing projects
The Irish Times reports that financier Castlehaven plans to lend €100 million to developers in order to build more social housing across the country. The total loan comes to €350 million, with close to a third earmarked for social housing alone.
Castlehaven, who funded the building of 200 social homes last year, has almost completed loans totalling about €30 million at present, and with demand for social housing high, they expect this number to rise.
4) ‘Commuting 230km to and from work is not realistic’
Writing in TheJournal.ie’s Voices section this week, Clare native Niamh Baker hit out at the belief that young people are simply too lazy or complacent to get on the property ladder.
Living and working in Dublin, Niamh noted that getting a home is not always as simple as borrowing from parents or moving home to save – despite what our Taoiseach might think.
5) Wexford town to get third entertainment centre
One of the most well-known property families in the southeast, the Pettitts, have been given the green light to build a new entertainment centre on the seafront in Wexford town.
This comes amid criticism from the operators of other leisure centre operators in the area, citing damage to their own businesses and public safety concerns. The proposed centre will include bowling, a play area, and a restaurant, and will be built next to the Talbot hotel, another Pettitt-owned property.
And finally, this week’s property buzzword…
We’re breaking down the complicated world of property jargon, one buzzword at a time. This week, it’s turn-key condition. It’s an expression used to indicate that a property is in walk-in condition, ready for its new owners, and that no repair works needs to be done.
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