Property price increases slow to 5% in February – CSO
The annual rate of residential property price increases slowed nationally to a 22 month low of 5% in February, compared to 6.1% in January. Property prices in both Dublin and the rest of the country fell marginally last month for the second month in a row. According to the Residential Property Price Index from the […]
State to charge 30% on increased value of land rezoned for housing
A new bill could see landowners and developers pay a charge of 30% on the difference in the value of land before and after residential zoning. The Land Value Sharing and Urban Development Zones bill seeks to clampdown on land speculation, where developers profit off land that is zoned for housing. Within the proposed law, […]
Property price increases slow to 5% in February – CSO
The annual rate of residential property price increases slowed nationally to 5% in February, compared to 6.1% in January, new figures from the Central Statistics Office show. This marked a 22 month low and is one-third of the 15% growth rate seen in February last year. On a monthly basis, prices fell 0.4% in February, […]
85% of Ulster Bank and KBC Bank Ireland accounts now closed
New figures from the Central Bank show that a total of 86,298 current and deposit accounts were closed in Ulster Bank and KBC Bank in four weeks to the end of March. The account closures come as the two banks continue their withdrawal from the Irish market. The Central Bank said this marked a reduction […]
Inflation eases to 7.7% in March from 8.5% – CSO
The annual rate of inflation eased to 7.7% in March from 8.5% in February, according to the latest figures from the Central Statistics Office today – the lowest level in 11 months. But core inflation – which excludes energy and food – continued to rise. March of last year marked the start of the dramatic […]
Inbound tourism visits during Q1 still down 16% on pre-pandemic levels
The number of international visitors to Ireland over the first three months of the year remained down 16% compared to the same period in 2019, before the pandemic hit. According to data compiled by the Irish Tourism Industry Confederation (ITIC), 1.7m people visited Ireland from overseas between January and the end of March. But the […]
Irish mortgage rates see surprise dip in February
New figures from the Central Bank show that the average interest rate on a new mortgage dipped in February to 2.92% from 2.93% in January. Ireland once again had the third cheapest mortgage rates in the euro zone in February. The euro zone average mortgage rate rose to 3.33%, almost three times the rate it […]
UK’s De La Rue warns FY profit below expectations on dwindling cash demand
Struggling British banknote printer De La Rue warned its fiscal 2023 profit was set to miss market expectations and next year’s outlook was uncertain, as demand for cash hit its lowest in over two decades. This sent its shares to a record low. The company said it was talking to lenders about amending its banking […]
Interest rates likely to fall to pre-pandemic levels – IMF
The International Monetary Fund has said it expects interest rates in major economies to fall back to pre-pandemic levels because of low productivity and ageing populations. In a blog issued ahead of its latest forecast for the global economy, the Fund said increases in borrowing costs were likely to be “temporary” once high inflation is […]
Live register numbers down almost 1% in March – CSO
The seasonally adjusted number of people on the Live Register in March stood at 180,500 – a decrease of almost 1%, or 1,600 from the position in February. According to figures from the Central Statistics Office, the unadjusted total stood at 179,777 for March. Of those, almost 54% were male and just under 70% were […]
ECB may need to increase rates again in May – Lane
The chief economist of the European Central Bank, Philip Lane, has said the bank’s next decision on interest rates in May will be “data-dependent” but another rise could be “appropriate” if certain economic conditions are met. Philip Lane made his remarks in an interview with the Cyprus News Agency, which was published today by the […]
Euro zone consumers more optimistic on inflation – ECB survey
Euro zone consumers cut their inflation expectations in February and also took a more optimistic view on growth and unemployment, a fresh survey by the European Central Bank showed today. Euro zone inflation has started to edge down from record highs around the turn of the year. Further big falls are also likely over the […]
150,000 letters sent about unpaid Local Property Tax
Revenue has sent 150,000 letters to property owners who haven’t yet paid their Local Property Tax (LPT) or made an arrangement to pay. All residential properties were required to set up their payment method by 10 January at the latest, and most did. Revenue said payment arrangements for 2023 LPT liabilities are in place on […]
Growth in service sector slows in March
Growth in the country’s service sector slowed in March, according to the latest AIB Services Purchasing Managers’ Index (PMI). The data shows that the rates of increase in activity and new business moderated. The business activity index stood at 55.7, down from 58.2 in February. Readings above 50 indicate overall growth in activity. The Irish […]
Euro zone recovery gathered pace in March on demand for services – PMI
The euro zone recovery picked up pace last month but the upturn was uneven across industries and countries, according to a survey which showed price pressures remained elevated in the region. S&P Global’s Composite Purchasing Managers’ Index (PMI) is seen as a good gauge of overall economic health. It climbed to a 10-month high of […]
Corporation tax take jumps by 71% in first quarter of 2023
The amount of corporation tax collected in the first three months of this year is running €1.35 billion ahead compared to the same time last year. The latest Exchequer Returns from the Department of Finance show the public finances were just over €2 billion in deficit at the end of March, due mainly to the […]
Ireland the 6th largest exporter of financial services in the world
The number of international banks and investment firms operating in Ireland continues to grow, with 17 of the world’s top 20 global banks now located here. That is according to a new report by the Federation of International Banks in Ireland (FIBI) and Banking and Payments Federation Ireland (BPFI). FIBI is the representative body for […]
Most don’t shop around for financial products – ESRI
Most people do not shop around for bank accounts or financial products like loans, a survey carried out by the Economic and Social Research Institute has found. The survey was based on a national sample of almost 3,000 consumers carried out by the ESRI’s Behavioural Research Unit. It was commissioned by the Department of Finance […]