The latest MyHome report indicates that despite the ongoing housing shortage, there is no evidence to suggest that house prices will stabilise anytime soon. The strong rise in asking prices, the highest in nearly two years, signifies a sellers’ market, implies increased confidence among sellers, according to the property website’s report, as noted by Eoin Burke-Kennedy.
Moreover, even amidst the lingering shortage, output in new residential construction is hitting levels that haven’t been witnessed since the era of the Celtic Tiger. This current activity is contributing significantly to the maintenance of the construction sector, particularly as commercial property construction begins to decelerate. This observation is reiterated in the recent construction PMI released by BNP Paribas Real Estate, highlighted by Eoin Burke-Kennedy.
Progress may be in sight for the prolonged disagreement between Aer Lingus and its pilots as the Labour Court is anticipated to reveal its recommended solutions for the issue this week. Although the recommendations are not obligatory, the pilot’s union, Ialpa, has intimated it will likely present the Labour Court’s suggestions to its members.
KPMG issued a warning in the latest economic commentary that the increasing inclination towards trade protectionism across the globe presents a significant risk to Ireland’s economic future. The consultancy cautioned that escalating conflicts and trade tensions in many regions could likely intensify isolationist policies and potentially threaten Ireland’s supply chain and expose Ireland to protectionist policies. Eoin Burke-Kennedy provides a detailed account of this assessment.
Motorola Solutions is poised to offer a massive boost to Cork county by generating 200 new job opportunities, reported by Fiona Keeley.
As remote working continues to redefine traditional office norms for an indefinite period, Pilita Clark analyses how businesses should adapt to this shift.
ICS Mortgages is planning to reduce the interest rate for buy-to-let mortgages from the start of August, becoming the latest lending institution to slash rates.
In anticipation of the forthcoming Budget, Food & Drink Ireland, the lobbying organisation, proposes implementing several financial aids for food and beverage companies to enhance productivity, promote sustainability and address the challenge of escalating costs in the industry. Eoin Burke-Kennedy discusses the group’s proposal in detail.
Keir Starmer has assumed the role as the Prime Minister of the UK, with an aim to reconstruct the existing planning system to stimulate housing construction. Michael O’Flynn, a developer, believes a similar approach needs to be implemented here. A previous mortgage manager at Bank of Ireland, Margaret Barrett, is currently heading Mortgage Navigators. This firm specializes in working with professional contractors and applicants who are self-employed. Her expenditure habits are elaborated upon in the section ‘Me and My Money’.