Glenveagh Properties seek stock market funding to build 2,000 homes
Glenveagh Properties, a new Irish housebuilder backed by US private equity firm Oaktree Capital, is seeking finance for housing development by raising funds on the Dublin and London stock markets. Glenveigh, which comprises properties accumulated by Oaktree Captial in Ireland as well as the assets of Maynooth builder Bridgedale, has approximately 1,700 shovel-ready units. It states […]
Ulster Bank Construction PMI February 2017
Simon Barry, Chief Economist Ulster Bank, Ireland Construction activity picks up further in February According to the Ulster Bank PMI February 2017, Rates of growth in total activity and new orders accelerated in the Irish construction sector, while job creation is at a near-record pace. Highlights from the February Ulster Bank Construction Purchasing Managers Index […]
The Housing Agency Report 2017
National Statement of Housing Supply & Demand and Outlook of 2017 – 2018. Key points New Builds Sufficient development land – Construction Growth – Progress in unfinished estate completions Sales Residential sales decline in 2016 – House price increases slower Rental Sector Rents rise across country – New rent highs in Dublin. Affordability problems in particular […]
Help to Buy Scheme – 120 applications in first 12 hours
Ten applications per hour as Help to Buy Scheme opens Help to Buy scheme gets off to a quick start with some 120 first time buyers submitting applications in first 12 hours of it opening, according to the Revenue Commissioners. The Government’s first time buyers Budget 2017 incentive came into legislation in the new year. […]
Sharp Increase in Irish construction employment rates
Simon Barry, Ulster Bank Irish construction employment see highest jump since February as new work comes on stream Near-term prospects for Irish construction firms continue to be underpinned by ongoing improvement in new business flows Irish construction firms continued to record strong growth of activity during November, supported by a further sharp increase in […]
Statement from Construction Industry Federation on Central Bank mortgage review
Tom Parlon, CIF Director General Following the review of mortgage measures announced by the Central Bank today, CIF Director General, Tom Parlon, stated: “The CIF recognises that the Central Bank’s macro-prudential rules are part of a necessary regulatory framework within the Irish banking system. Today’s changes to the deposit rules may assist first-time buyers in […]
Central Bank mortgage requirement changes are boost for Irish house building
What Central Bank new mortgage measures mean for Irish construction industry Key changes designed “to improve the sustainability and effectiveness of the current framework” The Ceiling on the loan to value (LTV) ratio for all first time buyers to be set at 90%, from the current 90% for loans up to €220,000 and 80% for […]