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Minister for Housing Darragh O’Brien has said he will share proposals later this week to prevent first-time buyers competing with large investment funds for houses. He said there would be discussion of the issue at tomorrow’s Cabinet meeting and he may bring an outline of options under consideration, but there will be no decision. Mr…

Young adults have suffered the worst unemployment and labour market impact from Covid-19, according to the latest research by the Economic and Social Research Institute. The report also found that younger people were experiencing wage stagnation, and that their situation was exacerbated by the high cost of rent. It also notes that adverse labour market…

€4.2 billion in capital was pumped into the Irish commercial and residential property market by foreign private finance providers each year between 2017 and 2019, new analysis has found. This represented nearly 78% of the total private funding in each of those years, when around 13,000 residential units were built, the report by Irish Institutional…

The Department of Social Protection has advised employers facing difficulties in re-hiring staff to contact it so that it can “follow up” with the workers concerned. The advice comes as the latest Department figures reveal that the number of people claiming the Pandemic Unemployment Payment this week has dropped to 376,600. This marked a decrease…

Minister of State for Trade Robert Troy has said a more cost-effective and faster administrative process will be put in place before the summer to enable “viable, vulnerable” businesses to restructure. He said the Small Company Administrative Rescue Process and Miscellaneous Provisions Bill targets small and micro business. They make up 90% of companies registered…

New figures from the Central Statistics Office show hous prices rose at their fastest rate in two years in March of this year. Rents are also increasing across the country. Property website, Daft.ie, found that listed monthly rents rose in the first three months of the year. Today’s CSO’s property price index shows that home…

12,000 businesses are expected to reopen their premises this week as Covid-19 restrictions ease further starting from today. Non-essential retailers across the country can resume click and collect, shopping by appointment and outdoor services from this morning. While personal services, such as hairdressers, barbers and beauticians can also open after more than five months closed.…

Tánaiste Leo Varadkar said that today is “a day of freedom” as society partially re-opens and people can travel freely anywhere on the island of Ireland. Mr Varadkar said that 12,000 businesses are set to re-open this week and 100,000 people will go back to work. He said that existing financial supports for business will…

A survey by the Central Bank and the ESRI has found the impact of Covid-19 on small and medium sized enterprises (SMEs) has been “profound”. The survey reveals that almost a quarter of SMEs could be vulnerable to liquidation when insolvency criteria begin to normalise. The survey, carried out between July and September last year,…

Land prices remained resilient last year despite the threat posed by Covid-19, according to a report by the Society of Chartered Surveyors Ireland and Teagasc. Nationally, the price for non-residential land ranged from an average of €5,900 per acre for poor quality land to €9,381 for good quality land. The Society of Chartered Surveyors Ireland…