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Property September 2016

Published: Oct 14, 2016
  • An Irish Reit has applied for permission to build 492 apartments in South Dublin.  The mixed use development will be located at Rockbrook in Sandyford.  If given the go-ahead, Rockbrook will house 827 apartments in total. 
  • An EU study claims that 99% of all homes in Paris are apartments.  This is in stark comparison to Dublin where 60% of the housing stock are houses.
  • The Central Statistics Office is now encapsulating both cash and mortgage based property transactions for the first time since its inception in 2011.  This will lead to a sharper picture of what is happening in the residential property market as almost 50% of property purchases are from cash buyers.  Previously, their statistics were based on those drawing down mortgages only.
  • The Property Industry Ireland believes that just 14,000 residences will be completed by year-end, falling markedly short of the Government’s 25,000 target.  Q2 2016 saw a 17% rise in newly constructed homes.
  • A survey by AA Life Insurance reveals that over 50% of people buying their homes for the first time are now aged 35 or over.  The survey had 11,000 participants.   
  • Prices of the average home in central Dublin – the semi-detached, have risen 2.75% in Q3 and are now up 3.7% when compared to the same period in 2015.  Prices of the same home in north Dublin are up 3% in Q3, up 5% vs the same period in 2015. South Dublin had an increase of 1.4% for Q3.  Lack of supply has been attributed to the sharp increases.
  • In a survey by REA, cash buyers have dropped 3% nationwide to 33%.
  • Activate Capital has enough funds to commit to 1,200 homes in Dublin in a joint venture between the State-backed ISIF and KKR, a world leader in investment.   The first of the new homes are due for release in October 2016.

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