Ireland Housing Crisis: New Study Reveals 50% Decline in Second-Hand Homes for Sale Over the Last Decade

It’s Wednesday

High 19C and Low 13C. couple of morning showers

Hi, Good morning!

👀 What’s on the news today:

• Kellie Harrington makes history in Paris by winning gold again in the Olympic final

• Plans Unveiled to Transform National Concert Hall into a World-Class Auditorium

• Ireland Housing Crisis: New Study Reveals 50% Decline in Second-Hand

  Homes for Sale Over the Last Decade

Kellie Harrington clinched gold in the Olympic women's 60kg final with a commanding victory over China's Wenlu Yang.

Harrington is the first Irish woman to win medals in successive Olympic Games.

After the fight, Harrington, now a double Olympic champion, announced her retirement from the ring.

This victory marks a record fourth gold medal at a single Games for Team Ireland, following the successes of Daniel Wiffen, Rhys McClenaghan, and rowers Paul O'Donovan and Fintan McCarthy, who also achieved gold at the Paris Olympics.

The primary objective of the major project is to expand the capacity of the main auditorium at the Earlsfort Terrace venue to 1,350-1,400 seats, as well as to accommodate orchestras of up to 106 players and choirs of 170 singers.

The Office of Public Works has submitted a planning application to Dublin City Council for the extensive redevelopment of the NCH, describing it as “a once in a multi-generational opportunity to provide a vital, world-class, cultural destination for music lovers, artists, and visitors to Ireland.”

The number of secondhand homes available for sale across the country has decreased by 50% over the last decade, according to new research. Data published by MyHome.ie on Wednesday revealed that there were 24,750 second-hand homes listed for sale in Ireland in July 2014, compared to just 12,477 properties last month, marking a 50% decline. The reduction in secondhand stock varied across the country.

Munster saw a 61% decline, Connacht and the three border counties of Cavan, Donegal, and Monaghan experienced a 59% drop, while Leinster saw a 36% decline. Dublin witnessed a 19% decrease in second-hand properties for sale since 2014.

Of the 12,477 second-hand properties listed on MyHome.ie last month, 7,983 had an asking price of €450,000 or below, with 2,893 priced between €450,000 and €800,000.

Joanne Geary, Managing Director of MyHome.ie, commented, “Ireland is experiencing strong economic tailwinds and full employment at present, with a significant increase in high earners recorded recently.”

Sinn Féin’s housing spokesman Eoin Ó Broin told the Irish Mirror that the new study provides “further evidence that the Government housing plan isn’t working.”

“It is based on a deliberate underestimation of the number of new homes needed each year to meet unmet and emerging demand,” he said.

Reply to this email if you get a chance, I appreciate reading all replies. Good Luck with everything today.

Thanks

Johir