A new report reveals that first-time homebuyers in Ireland are paying an average of €88,000 more for a house compared to five years ago. Meanwhile, construction activity is experiencing a significant upswing, with over 60,000 new properties commenced this year, a stark contrast to last year's figures. Other news highlights include a major development project in Belfast, a Cork-born entrepreneur leading a €11 billion London project, and a court ruling in a case involving a failed Irish lender.
The price a first-time buyer is paying for a home in Ireland today is typically €88,000 more than it was five years ago. Photograph: iStocknow than they did five years ago, according to a new report by the Banking and Payments Federation Ireland , which also has interesting data on homebuyers age and earnings and how existing homeowners fare. Eoin Burke-Kennedy has the details.
Eoin also runs through the latest home commencement figures, which look starkly better than at this time last year. Work has started on around 60,000 properties this year, compared to 32,800 last year.in Belfast. In a deal securing 1,000 jobs and four H&W yards across the UK, the state-owned group is understood to have paid in the region of £70 million for the business that has seen previous owners go bust twice in the last five years, writes Seanín Graham.
Corkman leading €11bn development of Battersea Power Station in London: ‘We’ve created a place to live, work and play’shareholders voted in favour of a sale of the listed company’s dairy processing division in two stages to its main shareholder, Kerry Co-op, in a deal worth a total of €500 million, writes Joe Brennan. Much of the money will come from the co-op’s shares in the business, most of which are separately being handed over to co-op members..
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