Update on the Planning and Development (Housing) and Residential Tenancies Act 2016

Rent Predictability A. Rental Pressure Zones The cornerstone of the government’s rent predictability measures is the establishment of “rent pressure zones” (RPZs) in Dublin and Cork City whereby limitations will be imposed on the level of rent increases allowable on residential properties in these zones. As a result of negotiations with Fianna Fail, The Government Read more about Update on the Planning and Development (Housing) and Residential Tenancies Act 2016[…]

Rent Controls – Short term gain for long term pain

In the face of the ongoing rental housing crisis and the current weak governing system, it was perhaps inevitable that rental controls of some form would be introduced. With renters far outnumbering landlords, the government has chosen to ride the populist wave and implement measures that will have an immediate gain in the back pocket Read more about Rent Controls – Short term gain for long term pain[…]

Amendments to the Central Bank’s macroprudential rules will provide a significant boost to the housing market

Today’s decision by the Central Bank to relax its macroprudential rules represents another significant boost for struggling first-time buyers following the introduction of the Help-to-Buy scheme in October. In conjunction with the Help-to-Buy (HTB) scheme, today’s announcement by the Central Bank reduces the deposit required by a first-time buyer by up to 66%. Given that Read more about Amendments to the Central Bank’s macroprudential rules will provide a significant boost to the housing market[…]

Dublin remains Europe’s strongest performing city for the second consecutive quarter.

The latest edition of Knight Frank’s Prime Global Cities Index has shown that the price of prime residential property in Dublin, defined as the top 5% of the housing market, increased by 0.9% in Q3 and 5.5% on an annual basis. While Dublin remained in 13th position globally, it was Europe’s strongest performing city for Read more about Dublin remains Europe’s strongest performing city for the second consecutive quarter.[…]

Reaction to Budget 2017

Residential Property The government has announced the introduction of a Help-to-Buy Scheme which is aimed at assisting first-time buyers of new homes in meeting the deposit requirements under the Central Bank’s macro-prudential rules. The scheme will benefit first-time buyers substantially. Based on a newly built apartment worth €280,000, a first-time buyer could potentially obtain 41% Read more about Reaction to Budget 2017[…]

URBAN HOUSE PRICES GLOBALLY RISE AT THEIR FASTEST RATE FOR TWO YEARS

The latest edition of Knight Frank’s Global Residential Cities Index, which examines mainstream residential prices on a city rather than on a country basis, has shown that price growth in Dublin’s residential property market weakened in Q2 2016. Prices in Dublin increased by 2.5% in the year to Q2 2016, down from 3.9% in the Read more about URBAN HOUSE PRICES GLOBALLY RISE AT THEIR FASTEST RATE FOR TWO YEARS[…]

Mortgage rules, lending cyclicality and the housing market

Yesterday’s data release by the Irish Banking and Payments Federation showed that lending increased dramatically in August when compared with the same period last year. This has been interpreted in some quarters as an indication that mortgage lending is growing robustly, despite the lending rules introduced by the Central Bank in early 2015. This view Read more about Mortgage rules, lending cyclicality and the housing market[…]

Central Bank Rules to Reduce Housing Supply by 5% in the next 3-4 Years

Yesterday’s special article by the ESRI entitled ‘An Empirical Assessment of the Macroprudential Measures in the Irish Housing and Credit Market’ has confirmed the adverse impact the Central Bank’s lending rules will continue to have over the coming years unless they are re-calibrated to better reflect market realities. The ESRI’s analysis shows that the impact Read more about Central Bank Rules to Reduce Housing Supply by 5% in the next 3-4 Years[…]

The Average National Rent Exceeds its Peak for the First Time since 2008

According to the latest rental report from Daft.ie, rents increased on a national basis by 3.9% in Q2 2016. This represents one of the largest quarterly increases since the series began in 2007 and as a result the average national rent has, for the first time, exceeded its 2008 peak by 0.8% to stand at Read more about The Average National Rent Exceeds its Peak for the First Time since 2008[…]

Prime Property Market in Dublin continues to transact well, as Post Brexit enquiries increase

  The latest edition of Knight Frank’s Prime Global Cities Index has shown that the price of prime residential property in Dublin increased by 0.5% in Q2, making it the fastest growing in city in Europe over the period. This represents the third consecutive quarterly increase in the price of prime property in Dublin, defined Read more about Prime Property Market in Dublin continues to transact well, as Post Brexit enquiries increase[…]