Property Market Roundtable hosted by Governor Philip R. Lane

When 02 October 2017 11:00 AM

On Monday 2 October, the Central Bank hosted a Property Market Roundtable with external stakeholders. Following on from similar events held in 2014 and 2015, the meeting affords an opportunity for some of the country’s foremost property market experts to meet with senior policy makers, including the Governor, Deputy Governors and economists, to discuss the current outlook for the Irish property market.
Governor Lane began by welcoming participants and thanking them for their attendance. In some brief opening remarks, he also pointed to the important role of the meeting, in terms of helping prepare for the Central Bank’s forthcoming Macro-Financial Review and more broadly in serving to keep Central Bank staff abreast of key property market issues. A short presentation, available below, outlining recent developments in both the residential and commercial property markets followed, before a wide-ranging and open discussion began.

The main topics touched on during the discourse included:

  • impediments to the delivery of housing supply – construction costs, importance of scale, planning inconsistencies, site servicing of/delivery of site infrastructure, labour pressures
  • on-going residential rental market pressures – developments in student accommodation, profile of landlords
  • property market statistics and data gaps
  • the housing mix – apartments vs. family homes
  • home ownership rates and implications for future pension provision
  • social housing and the link between the private and public sectors
  • development financing and the role of non-bank funding
  • issues concerning the supply of commercial property - the Dublin office development pipeline, the rise of on-line retailing and impact of Brexit, rezoning procedures and alternative uses of vacant space

171002 Property Market Presentation

In addition to Central Bank staff, representatives from Sherry FitzGerald/Cushman & Wakefield, CBRE, Lisney, Savills, JLL, KBC, DKM consultants, Property Industry Ireland, Investec, Goodbody stockbrokers, Davy stockbrokers, NAMA and academics from UCD, TCD and DIT attended.