PROPERTY DEVELOPMENTS IN Ireland can be tough to keep up with. Whether you’re a happy homeowner or you’re trying to buy a new place to live, there’s a lot to keep in mind.
Each Friday, we gather five of the biggest stories from the property world, to keep you informed of the biggest developments in the market.
This week, the planned redesign of Dame Street’s Central Bank was halted, thanks to one local, and the Department of Housing denies ‘cooking the books’…
A resident of Temple Bar has caused problems for the redevelopment of the old Central Bank HQ on Dame Street. The €75 million development was given the all-clear by Dublin City Council last month, but this has been threatened by a man’s complaint.
He claims that the redevelopment would impact the privacy of his property and rooftop garden and subsequently affect the resale value of his home. He noted that the grounds of his appeal are “absolutely selfish” but added that “people’s privacy should be respected, regardless of where they live”.
The plans to completely pedestrianise College Green hit a stumbling block this week with Dublin City Council calling for public submissions regarding the area. Questions have been raised regarding the effects of the changes on the environment as well as what it means for city traffic.
The extended public process, which opened on November 16, means that traffic restrictions in the area will stay in place until the new year.
Sinn Féin’s housing spokesperson, Eoin Ó Broin, claimed disparity in the numbers reported by the department this week. Broin claims that 8,512 council voids were returned to stock since 2014, whereas a 2016 report by the National Oversight and Audit Commission counts 4,202 council voids.
Broin’s claim that the department was ‘cooking the books to make the figures look better’ was rejected by the Department of Housing, who say that the 8,512 figure encompasses properties that have been re-let since January 2014.
The ERSI, an independent think-tank, has reported its findings on the jump in house prices since the recession, and has found that there is no property bubble in Ireland. “The results are unambiguous; the Irish market does not yet display any signs of overheating,” it said.
However, the ERSI also noted that house prices are expected to “rise significantly” over the next couple of years, and that “any government policy applied to the Irish market clearly needs to focus on increasing housing supply”.
The plans to build in St Mary’s Park, a residential area found to be the poorest in the country by the Pobal deprivation index, were criticised as having “no logic” by councillor John Gilligan.
Limerick City Council said that the 12 new units “will serve to knit the existing gapped streetscapes back together”, but Gilligan has called for the council to re-evaluate and for all old housing stock to be rebuilt.
We’re breaking down the complicated world of property jargon, one buzzword at a time. This week, it’s dual aspect, a term you’ll see commonly used to describe kitchens, living rooms or gardens. Layout-wise, it simply refers to windows on adjacent walls allowing for views in more than one direction, as per our Dream Home this week.
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