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The Viewing: Your vital round-up of property news from the week

Everything you need to know in one quick guided tour.
Nov 6th 2014, 4:42 PM 1,767 0

house sale Source: Eamonn Farrell/Photocall

A NUMBER OF events this week will have caught the attention of homeowners.

Not least of these is the ongoing outrage over water charges as voiced in water protests. There is reason for hope that the charges could now come to less than €200 for a family of four.

While new Exchequer figures showed the economy to be in fairly rude health – there was a shortfall in DIRT receipts, an incentive for first-time property buyers.

The Big Movers

Staying put

There was good news this week for people facing difficulty with mortgage repayments. The Irish Mortgage Holders Organisation (IMHO) revealed on Tuesday that they had stopped almost 400 AIB repossessions in the past year. 

aib logo Source: Sam Boal/Photocall

Under a project conducted between the AIB group and the IMHO more than 1,300 long-term resolutions were agreed between the bank and mortgage holders. In a third of these cases, individuals were facing repossessions. CEO of the organisation David Hall revealed that the group receive 125 calls a day from troubled homeowners.

On the rise 

There was increased concern this week that the Local Property Tax could rise dramatically in tandem with rising house prices.

Source: Chartered Accountants Ireland/YouTube

These fears arose after a report from property website showed that asking prices in Dublin had risen by 25% compared on the same period last year.

A mandatory reevaluation of properties is set to take place November 2016, which the tax for 2017 shall then be based on. There have been calls for Government intervention to delay the reevaluation.

Moore Street 

Members of Dublin City council this week voted against a land-swap deal for premises on the City’s Moore Street. The swap would have seen the transfer of 14-17 Moore Street into the hands of the Council in exchange for 24-25 Moore Street.

The deal has significance in the build up to the 1916 centenary. The 14-17 Moore Street property is currently owned by Chartered Land and has National Monument status.

moore street 2 The property on Moore Street Source: Laura Hutton/Photocall

It is believed that the property was used by the leaders of the Rising and its swap for 24-25 Moore Street – which is currently used as a waste depot for a shopping centre – would allow the site to be developed into commemorative centre.

The Council voted 22 for and 38 against.

Under construction

world trade centre image One World Trade Centre Source: AP/Press Association Images

Des res

Think rents in Ireland are getting out of hand? How about this 6-bedroom apartment on the 39th floor of New York’s Pierre Hotel. The luxury property would set you back a staggering $500,000 a month in rent. Alright for some…

And finally…

Fans of Star Wars will be pleased to learn that the franchise is set to get its very own custom-built museum in Chicago. The building has been commissioned by Star Wars’s creator George Lucas and is designed by 39-year-old architect Ma Yansong.

image of star wars museum How the museum in Chicago will appear Source: Lucas Museum of Narrative Art

Additional reporting by Business Insider

Read: The difference between now and this time last year? About €2 billion

Also: A burst water main is causing some traffic problems today

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Michael Sheils McNamee


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