Property News

Property News
UK: Rise in demand for rental properties

UK: Rise in demand for rental properties

UK: Rise in demand for rental propertiesAccording to the latest residential lettings survey from the Royal Institution of Chartered Surveyors in the UK residential landlords there are likely to see the rental market pick up in the coming months.

The survey revealed that because of a fall in the supply of new properties coming onto the marketing for the second quarter in a row and a sizeable decline in supply of both apartments and houses to rent in the marketplace there is now an increased demand for rental property.

Because of these factors a rise in rent rates now seems inevitable, as supply cannot meet

345,000 vacant homes in Ireland

345,000 vacant homes in IrelandAccording to a report published by the Urban Environment Project at University College Dublin, there are no less than 345,000 empty houses or apartments in the State. This figure equates to just under 18% of all housing in the country.

This enormous oversupply of homes available in the Irish property market is a number well above recent figures released by both the National Institute of Regional and Spatial Analysis (Nirsa), based in NUI Maynooth and the Construction Industry Federation (CIF). Of course both groups defended their research with CIF stating that their 40,000 figure from the Irish Home Builders’ Association was the number of new, unsold homes in the State and did not include other categories such as second homes.

Property News
Drop in UK house prices during February

Drop in UK house prices during February

Drop in UK house prices during FebruaryAccording to the last property index report from Halifax in the UK residential property there saw an unexpected price fall of 1.5% in February. The decrease has been the first drop in UK residential house prices since June last year. The decline followed a downwardly revised 0.4% rise in January and left prices 4.5% higher in the three months to February compared with a year ago.

Commenting on the drop, Halifax’s housing economist Martin Ellis said; ‘the bad weather in the first two months of 2010, together with the return of the lowest stamp duty threshold to £125,000, are likely to have had an adverse impact on housing demand’.

Property News
Winning Design: New US Embassy for London

Winning Design: New US Embassy for London

Winning Design: New US Embassy for LondonFinally, after much anticipation and debate, the plans for the new US Embassy in London, designed by the Philadelphia firm KieranTimberlake were announced late last week.

The new building will be situated in the Nine Elms opportunity area of London, overlooking the southern edge of the Thames is to fill approx a five-acre site. The new design makes extensive use of glass which will be protected by a blast-resistant polymer skin; not only is this blast proof but the polymer skin will also shade the building and hold flexible solar panels. Along with all this the roof will be home to an array of solar panels that will “hide mechanical equipment while producing electricity”; “The goal is a building that creates more energy on balance than it uses”.

According to the US state department, the goal of the design of the new US embassy is to “reflect the values of the American people”. In an era so obsessed with terrorism and security the new London based US Embassy aspires to a different level focusing on sustainability, ecological responsibility and “neighborliness within a tight urban area”.

Property News
€1m Restoration Scheme for pre 1960’s Farm buildings

€1m Restoration Scheme for pre 1960’s Farm buildings

Many traditional farm buildings are to be rescued from near extension by a new EU-funded grant scheme. The project aims to restore traditional Irish Farm buildings around the country to their former glory in order to help preserve our past traditions, history and culture i.e. ‘things’ that are “distinctively Irish”; “old farm buildings are what make …

Property News
Threefold increase in 'Sale Agreed' properties

Threefold increase in 'Sale Agreed' properties

Threefold increase in 'Sale Agreed' propertiesThere has been a threefold increase in the number of ‘sale agreed’ second hand homes in January compared to the same time last year according to new research carried out by MyHome.ie. The new data shows that sale agreed properties in Dublin rose by over 300% with 658 properties reaching sale agreed status last month compared with just over 200 …

Property News
Opportunities in India for Irish Construction Workers

Opportunities in India for Irish Construction Workers

Opportunities in India for Irish Construction Workers

The Ireland India Business Association (IIBA) in conjunction with the Construction Industry Federation (CIF) organised a meeting today to highlight the current opportunities in the property and construction sectors in India to Irish companies.

This morning, construction businesses, bosses and employees alike heard about the plethora of work and money available in India in the sector and …

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