News & Research
The Irish Economy continued to perform strongly in Q3 2018, with unemployment standing at 5.4% in September, and GDP growth of 6.5% expected in 2018. This positive backdrop has supported the Irish property market, with the IPD Irish All Property Total Return Index now 24% above previous peak levels.
Despite significant conjecture in the lead up to Budget 2019, there is no change to Stamp Duty for the Built-to-Rent sector and there was no change to the Help-to-Buy scheme. The focus of Budget 2019 with respect to the housing market lies very much on the expenditure side, with a raft of spending increases to support social and affordable housing and additional funding for infrastructure spending to service land.
This report looks at trends in the Private Rented Sector (PRS) which is a critical part of the solution to the residential supply problems facing the Irish economy. The report highlights growth in numbers in rental accommodation; a critical shortage of rental properties and increased rents which are expected to curtail once new residential supply approaches underlying levels of demand.
The Irish economy continued to perform strongly in the first half of 2018, which in turn underpinned the Irish commercial and residential property markets. However, close attention will have to be paid on future market return. Returns broadly in line with the growth of the economy are sustainable - growth much higher wll be a cause for concern.