Property & Mortgages

'House prices and rents won't stabilise for up to three years' 

Housing Agency boss John O'Connor is under no illusions about how long it will take for house prices and rents to stabilise.

Writing off negative equity 'would ease crisis' 

Homeowners and landlords unable to pay their mortgages could see the negative equity portion of their loans written off to help restore the property market to normality, under proposals outlined by the head of the Government's Housing Agency.

Comment: It’s time to stop faffing about and start treating this housing crisis like the emergency that it really is 

ON an autumn day in 1948, architect Herbie Simms consumed a bottle of whiskey and threw himself under a steam locomotive in Dún Laoghaire.

There is no bubble - but housing's still a headache 

In April 2007 - 10 years ago to the very month - residential property prices peaked. The huge bubble in house prices, which had been inflating for years, then began to deflate. It happened slowly at first but as 2008 dawned it began to happen quickly.

Report will recommend number of initiatives to revive properties, including turning heat on banks 

Owners of vacant properties will be offered new government loans to refurbish houses and get them back on to the private property market, the Sunday Independent can reveal.

Return of 1,500 emigrants a week boosts property 

A surge in the number of returning emigrants - some with significant cash savings for down payments on a new house - has emerged as the latest pressure point in pushing up property prices.

Building the way to manage our boom/bust cycle better 

This year is looking like the construction industry's resurrection will fully manifest itself. It looks set to increase output by 30pc on 2016 to reach about €16bn, or around 8pc of GNP. By mid-2018, it will have hired an additional 50,000 employees at a rate of 1,000 per month...

Stock: Official stats overestimate the rate of construction 

There are 2,003,645 houses and apartments across the State, an increase of just 8,800, or 0.4pc, since 2011.

Vacant Homes: More than 3,300 apartment buildings completely empty 

Some 3,308 buildings containing a total 11,680 homes are completely vacant, the CSO 'Housing in Ireland' report says.

Using State lands and cutting VAT on new homes will help address housing shortage 

Two figures revealed in the Central Statistics Office's 'Housing in Ireland' report set out the profoundly dysfunctional nature of the housing market. The first is that 3,308 apartment blocks dotted across the country, capable of providing 11,680 homes, are completely vacant.

Age of first-time buyers rises as housing supply fails to increase 

The average age at which people buy their first home has rocketed to 35, with thousands of families trapped in unsuitable accommodation.

'How long will it take before I can buy a house?' - Young mum (27) lived in parents' home while fiancé worked 100 miles away 

Living in her parents' house while trying to raise two young children was a necessary struggle for 27-year-old Laura Ryan.

Supply of homes for sale falls to historic low 

The number of houses for sale dropped to an all-time historic low of 22,100 in January.

Housing crisis deepens as prices rise 11pc with no slowdown in sight 

The housing crisis is deepening at a startling pace, with the rate of price rises picking up dramatically.

'The landlord wanted couples only' - Estate agent has to pay €3,000 after discriminating against woman 

A Dublin-based estate agent has been ordered to pay €3,000 to a single mother after being found to discriminate against her status when renting an apartment.

Getting 'boomier'? Property prices jump by almost 20pc in parts of the West 

Property prices are rising fastest in the west of Ireland, official figures have revealed.

There is no spin on house-building stats, insists minister 

Housing Minister Simon Coveney has hit out at attempts "to catch the Government out" over the number of new homes being built.

Donal O'Donovan: The shift to fix comes with a period of volatility on the cards 

Ulster Bank's move to cut the prices of fixed-rate mortgages will shift the market here farther from the long-standing bias for variable rates - something that makes us unusual in Europe.

Hopes of interest rates war as Ulster Bank makes it cheaper to get a loan 

Ulster Bank is to reduce its fixed rates for new and existing customers and make it easier for them to qualify for the new interest rates.

'We've to move to Abu Dhabi to save for a house in Dublin' 

They're young, they're teachers and they want to buy a house in Dublin - but they have to leave Ireland do it.

Charlie Weston: Banks should take action against freeloading mortage defaulters 

The failure of banks to make greater attempts to repossess properties where the mortgage is not being paid is curious. Nobody wants to see people, especially families, turfed out of their homes.

Home Economics: answering your property questions 

Personal Finance expert Sinead Ryan answers your property questions.

'Vulnerable' tenants worry as AIB sells off mortgages 

AIB has agreed to sell a €400m portfolio of 1,200 buy-to-let mortgages to Goldman Sachs in the biggest deal of its kind since the financial crisis.

New rules may make switching mortgages easier 

The Central Bank said it was considering imposing new rules on banks to make it easier for mortgage-holders to switch to another lender to reduce the cost of their repayments.

Bank rule changes on the cards to make mortgage switching easier 

THE Central Banks said it is considering imposing new rules on banks to make it easier for mortgage holders to switch to another lender to reduce the cost of their repayments.

Paul Melia: Prices will go through roof until we build more homes - and, crucially, the right type 

Perhaps the most startling figure in the KBC Homebuyer survey relates to the 70,000 'ready and able' prospective purchasers seeking a home. If the market was looking for a signal to begin building, that figure...

Property supply so low only half who want to buy can find a home 

Demand for housing is set to get even stronger as more first-time buyers enter the market.

Legal cases to repossess homes fall by half in two years 

The number of legal proceedings issued by banks to repossess homes has halved in the past two years.

Could Ireland's new property crisis beggar us once again? 

Next week, it will be exactly 10 years since RTE broadcast a television documentary I made on the property market. The programme suggested that we were in grave danger of a sharp house price crash and it examined what a financially traumatic event like that might look like.

How would developers solve housing dilemma? 

Kevin Nolan, Hibernia Reit: One of the biggest issues we need to address to increase the supply of new housing in Dublin is to use the land banks owned by the State more effectively.

Your Money: The quick fix that could save you up to €17,000 on your mortgage 

Homeowners on variable mortgages could save as much as €17,000 on their mortgage over the next five years by locking into a cheap fixed rate, an analysis by the Sunday Independent and the mortgage brokers, Dowling Financial has found.

Census result shows homes crisis is likely to get worse 

Last week's census results showed that Ireland's population was one of the fastest growing in the EU in the five years to 2016.

Prices must fall - but dream of owning a home is still achievable, insists Coveney 

Young people should not give up on the dream of owning their own home, Housing Minister Simon Coveney has insisted.

10 things that could help boost supply and provide more affordable homes in Ireland 

Address building costs: In Dublin, it costs just over €330,000 to build a three-bedroom semi-detached home. Just 45pc of this is bricks and mortar. The remainder is made up of levies, builders' profit, professional fees and VAT. Cutting the VAT rate would knock around...

Home Economics: Answering your property questions 

Personal Finance expert Sinead Ryan answers your property questions.

Tracker scandal raised with gardaí 

Regulators at the Central Bank have held discussions with gardaí about the taking of low-cost tracker mortgages from homeowners.

Fewer homes changing hands as prices continue to soar 

The number of homes changing hands has plummeted by as much as 17pc in areas with acute housing shortages due to the lack of new supply coming on to the market.

Boom buyers face €200-a-month mortgage hike 

Boom-time borrowers are highly vulnerable to a rise in European interest rates, particularly those in their 30s, a new Central Bank study has found.

Help-to-Buy is behind surging house prices - Central Bank 

House prices have risen so high that only rich people on big salaries can afford to buy a home, with the Help-to-Buy scheme blamed for pushing up values.

'Only people on high incomes can afford to buy a home' - Central Bank Governor 

ONLY people on high incomes can now afford to buy a home, Central Bank Governor Philip Lane told TDs.

Consumer watchdog opposes new law to cap interest rates on variable mortgages 

The State's consumer protection body has come out against moves by politicians to cap variable mortgage rates.

4,700 apply looking for help - almost 53 every day 

Figures from the Revenue Commissioners show that a total of 4,698 applications have been made under the Help-to-Buy incentive since it opened on January 1.

Accidental landlords risk losing claims on insurance 

Large numbers of accidental landlords are risking being unable to make an insurance claim because they have not made it clear they are renting out their property.

Help-to-Buy scheme cost set to soar beyond €70m 

One-in-five first-time buyers getting State help to purchase a home is buying property worth more than €375,000, new figures show.

Minister rejects calls to shut down scheme for first-time buyers 

Housing Minister Simon Coveney has rejected Opposition demands to suspend the Government's help-to-buy scheme, amid claims it is fuelling the latest surge in house prices.

Simon Coveney: We're breaking down the walls that are slowing supply of homes 

Last week, Paschal Donohoe and I announced specific infrastructure projects that will unlock housing supply under a €226m infrastructure fund.

'We can't afford to buy or rent house our family needs' 

A Dublin man has said the only mortgage available to him and his wife would not enable them to buy the house their family needs.

Help-to-Buy scheme fuels surge in house prices 

House prices soared 9pc in a year on the back of new buyers clamouring to get hold of property in limited supply.

Home Economics: Answering your property questions 

Personal Finance expert Sinead Ryan answers your property questions.

Permanent TSB 'charging double' its rivals to fix rate 

A state-rescued bank has been accused of exploiting its mortgage customers by offering those who want to fix an interest rate that is more than double what other banks are charging.

Dublin rents now over 8pc higher than 2007 peak - as average monthly costs reach €986 

Private sector rents grew by 7.8pc across Ireland in Q4 2016 according to the latest Quarterly Rent Index from the Residential Tenancies Board (RTB).