Estate agents expect national property prices to increase by an average of 6 per cent over the next 12 months, with a majority attributing the swelling prices to a lack of housing supply, reports Laura Slattery. More than 200 estate agents belonging to the Society of Chartered Surveyors Ireland were asked for their opinion on future price trends for its July residential property market monitor report.
Laura also reports that the value of Irish land sales arrived at about €99 million in the second quarter, bringing the total year-to-date turnover to €193 million, according to new data from property adviser Savills Ireland. This represents an increase of 15 per cent on the same period in 2020, when turnover reached €167 million.
One of the country's biggest credit unions has put a limit of €25,000 on the level of savings new members can hold, due to the costs it is incurring by having money on deposit with banks. "Credit unions have to put on reserve a percentage of savings so the more savings we have, the more we have to keep on reserve so less investment income," chairman Paul Cooney noted in South Dublin Credit Union's 2020 annual report. Ciarán Hancock has the details.
Cork-based Compliance & Risks is expected to create up to 100 jobs over the next two years after receiving a multimillion euro investment, Charlie Taylor reports. No financial details of the investment have been publicly disclosed but Silicon Valley-headquartered Luminate Capital Partners is believed to have taken full ownership of the business, buying out shareholders that include founder Damien McGovern.
There's more good jobs news in Co Westmeath as insurnance broker Ardonagh Group has announced it will open the Ardonagh Global Data and Risk Management Centre this month, bringing 60 new data science and analysis roles to Mullingar. The centre will support services offered by Ardonagh, the UK's largest independent insurance distribution platform, with the project supported by inward investment agency IDA Ireland.
The handshake is back, sort of, and it's causing etiquette chaos, writes Pilita Clark in her weekly column. The uneven state of vaccinations, plus wildly divergent views about what safe behaviour looks like, has divided us into an awkward mix of shakers, bumpers and fist knockers.
Construction activity continued to ramp up at a rapid pace in June following the loosening of restrictions, according to the latest purchasing managers' index for the sector from Ulster Bank. The seasonally-adjusted index remained well above the 50 mark that signals the sector is expanding – posting a reading of 65 following 66.4 the previous month – as activity increased for the second consecutive month following the full reopening of the sector.
And finally, as the Cabinet meets today to sign off on plans to reopen indoor hospitality in bars and restaurants, Eoghan O'Meara Walsh, chief executive of the Irish Tourism Industry Confederation says the window of opportunity to pass indoor dining legislation is very narrow.
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