Archive for April 2020

Construction is resuming on 35 social housing projects to ensure local authorities can deliver accommodation for people currently in emergency accommodation or at risk of homelessness during the current pandemic, the Department of Housing, Planning and Local Government confirmed. However, the Construction Industry Federation has warned members that if they do not comply rigorously with…

There are over 45,100 employers registered with Revenue for the Covid-19 Temporary Wage Subsidy Scheme, according to the latest figures from Revenue. Over 30,800 employers have already received subsidy payments under the scheme, and over 281,200 employees have already received at least one payment. Today, Revenue has generated further subsidy payments under the scheme worth…

New figures from the Central Statistics Office show that residential property prices increased by 1.1% nationally in the year to February.  The CSO said this compares with an increase of 1.1% in the year to January and an increase of 4.3% the same time last year. Today’s figures lag a coronavirus-related collapse in housing transactions. …

The price of a litre of fuel has fallen significantly in recent weeks. However, with personal movement restricted to within a two kilometre radius of everyone’s home, the benefit of the price reduction is not being felt by many, other than those who need to carry out essential work. Why are prices falling and how…

A new report from stockbrokers Davy said that while the outbreak of Covid-19 presents significant challenges, Ireland’s economy should prove to be far more resilient relative to the rest of Europe than it did in the last downturn.  The stockbrokers noted that recent years have been characterised by a lack of credit demand, mainly due to…

Energy consumption in family homes is up between 11% and 20% as more people stay at home, according to a study from energy company Pinergy and property group Savills.  The new study highlights the impact that the latest Covid-19 restrictions are having on changing patterns of energy consumption in the home. The study found that…

The National Treasury Management Agency today completed an auction of Irish Treasury Bills, selling the target amount of €750m.  The NTMA said that total bids received for the Treasury Bills amounted to €2.305 billion which was over three times the amount on offer.  The Treasury Bills, which have a maturity of six months, were sold…

Former IMF deputy director general Donal Donovan said he believes it is possible for a “fairly quick rebound” once the coronavirus crisis passes and confidence returns to the Irish economy.  Mr Donavan said that this crisis is quite unlike the situation in 2008/2009, when banks went bust, the construction industry collapsed and there was huge…

The country’s five retail banks may extend loan repayment breaks to help homeowners cope with the impact of the coronavirus to six months from the three months currently in place, the head of their representative body has said.  The banks agreed the measure in the middle of last month and had granted or were close…

Consumer sentiment suffered its largest monthly drop on record in April, a survey showed today, demonstrating the scale and speed of the economic collapse unleashed by the coronavirus pandemic.  Restaurants, bars and non-essential retail outlets have been closed in stay-at-home restrictions put in place on March 29.  These restrictions are due to run until at…