An illuminating report from the renowned research organisation, ESRI, on the housing ecosystem in Ireland was revealed today. The commentary brought to light some significant concerns, including the under-occupation of two-thirds of Irish homes amidst a housing crisis. This interpretation points to over a million residences possessing more rooms than are needed, as detailed by Eoin Burke-Kennedy. This dawned shortly after Daft.ie flagged that the availability of pre-owned homes is at its lowest in a minimum of 17 years.
The research by ESRI and Daft’s revelation are somewhat interconnected. If those with vacant rooms do not downscale, it could cause the current paucity of houses for sale. As per the ESRI findings, over 88% of the people above 65 years of age are living in under-occupied residences. However, are there enough smaller homes to scale down? It seems not. There are several reasons why someone might relocate to a more compact home, and it won’t be feasible for all. Also, people shouldn’t be compelled to shift residences. Yet, it is crucial to consider this while evaluating the persistent housing crisis.
The economic prognosis for Ireland paints a positive picture, according to the ESRI report, with an easing inflation rate and robust labour market. The finer details were reported by Eoin.
From next month, the cost of a pint will go up by an estimated 10 cent. Despite Diageo justifying the increase as essential to sustain their business, it has been starkly criticised as a significant setback by publicans. This news was reported by Conor Pope.
Last year saw Cairn Homes’ CEO’s remuneration rise by over €800,000 whereas, the head of Glenveagh Properties saw a decrease of €100,000; revealed from the companies’ annual reports, according to Colin Gleeson.
An uptick in mortgage approvals driven by first-time buyers rose by 6% in volume and 7% in value in February compared to the prior year, per fresh data from the Banking and Payments Federation Ireland (BPFI). Further details were covered by Colin Gleeson.
A spokesperson for Iliad Group, owned by French telecom tycoon Xavier Niel, denied any immediate intentions to claim a dominant interest in Eir. This move would exacerbate the debt responsibilities of Iliad Group, which was public on Paris’s stock market prior to Niel’s privatised takeover in 2021, as reported by Joe Brennan.
In his latest write-up, Martin Sandbu delves into the reasons behind Europe’s decision to base its trade policies on manufacturing methods.
Annual figures demonstrated that Boston Scientific, the manufacturer of medical instruments, received financial aid amounting to €18 million from IDA Ireland in 2023. The report is by Barry J Whyte.
Last year, the Financial Services and Pensions Ombudsman (FSPO) witnessed an all-time high in complaints, chiefly regarding consumer service issues, and a considerable section of customers reported fraudulent activity associated with their accounts. This is according to a report with details furnished by Conor.
In south Dublin, Charlie Chawke, a pub owner, was given the green light to construct a funeral home at The Goat Pub. Gordon Deegan obtained this information from the planning documents.
Pending gambling law amendments should not involve prohibitions on bookmakers providing free betting opportunities and other rewards to their patrons, says Paul Edgecliff-Johnson, CFO at the parent company of Paddy Power, Flutter Entertainment. Barry O’Halloran reported this after the company last year revealed non-recurring, non-monetary expenditure lead to a loss of $1.2 billion (€1.1 billion).
In real estate news, Ronald Quinlan announced that EY Ireland, a member of the Big Four, has shortlisted two potential spots for its new Dublin base, one being in close vicinity to its current location at the Harcourt Centre on Harcourt Street. He also mentioned that Carisbrook House in Ballsbridge is going to be pulled down and restructured, quite a few years after the departure of its last tenant.