Residential Property Prices remain Elevated Despite Cooling Growth

Residential property prices continued their upward trajectory in 2024,although the pace of growth has slowed compared to the previous year. new figures from the Central Statistics Office (CSO) show that average home prices increased by 8.7% in the year to December, down from a revised 9.6% growth in November.

Prices Surge Above Pre-Recession Levels

Despite the moderation, average home prices are now approximately €200,000 higher than a decade ago, with the median price of a home bought in the 12 months to December reaching €355,000. This figure represents a important increase compared to €327,500 in 2023 and €155,000 in 2013. Notably, national prices currently exceed the peak levels seen during the Celtic Tiger property boom in 2007, standing 16.8% higher.

Regional Variations and Price Trends

Dublin experienced a 8.3% rise in home prices in December, while prices outside of Dublin saw a more pronounced increase of 9%. The lowest median price recorded was €182,250 in Longford, while Dún Laoghaire-Rathdown boasted the highest median price at €660,000. The CSO revealed that in Dublin, house prices rose by 8.7% in the 12 months to December, compared to a 6.9% increase for apartments.

Fingal witnessed the highest house price growth in Dublin at 10%, followed by South Dublin, which saw a 6.9% rise. Outside Dublin, house prices increased by 9.3%, with apartments experiencing a 5.8% rise. The Border region (Cavan, Donegal, Leitrim, Monaghan, and Sligo) led the growth in house prices outside Dublin, with a significant 14.2% increase. Conversely, the Mid-East region (kildare, Louth, Meath, and wicklow) experienced the smallest growth at 5.9%.

looking at individual Eircodes, Blackrock (A94) recorded the highest median price at €730,000, while Clones (H23) had the lowest median price at €131,000.

Market Activity and Expert Analysis

Despite the slowing growth, demand for housing remains robust, exceeding supply. Total purchases filed with Revenue in December 2024 amounted to 5,177, a 2.3% increase compared to December 2023. However, full-year 2024 saw a 2.9% decrease in purchases compared to 2023, totaling 48,775.

As the trough in early 2013, property prices nationally have surged by 160.4%, with Dublin prices rising 157.8% from February 2012 lows and prices in the rest of Ireland increasing 171.5% as May 2013.

“While the pace of price increases has slowed slightly, demand remains strong, and supply is still struggling to keep up,” observed Gerry Griffin, Senior Mortgage Advisor at NFP Ireland. “If the ECB proceeds with an interest rate cut in March, as widely anticipated, mortgage rates could fall, boosting borrowing power. While this would benefit buyers, it could also drive further price inflation by increasing competition for available homes. the real issue remains supply—without a significant increase in new housing, lower borrowing costs will likely push prices higher in the short term.”

Griffin emphasized the importance of careful affordability assessments for buyers, noting that even with lower interest rates, repayments will still be substantial. He stressed that policymakers must prioritize delivering more housing at a faster pace to balance the market and alleviate pressure on prices.

Rachel McGovern, Deputy Chief Executive at Brokers Ireland, echoed Griffin’s concerns, stating, “House prices in 2024 rose at levels beyond what most industry commentators expected. There are appalling consequences for our society if policymakers don’t turn around housing in the near future and ensure that those on average incomes can achieve the ambition of owning a home. We would call on the Government to be brave and decisive and not let another year pass before it acts on the recommendations of the Housing Commission.”

Navigating the Housing Market: The current market presents both opportunities and challenges for prospective homeowners. While slowing growth offers a slight reprieve,affordability remains a key concern.Potential buyers should carefully assess their financial situation and seek expert advice. Policymakers, meanwhile, need to prioritize increasing housing supply to address the ongoing imbalance between demand and availability.

What are the key drivers behind the sustained growth in Irish residential property prices, despite a moderation in recent months?

Interview: Residential Property Market in 2024 – Prices, Trends, and Expert Insights

join the conversation: What are your thoughts on the Irish property market in 2024? Leave your comments below.

dublin Pub Ordered to Pay €30,000 for Age Discrimination

A landmark ruling by the Workplace Relations Commission (WRC) has seen a prominent Dublin pub ordered to pay €30,000 in compensation to a former employee who was dismissed due to his age. The Hairy Lemon pub on Stephen Street Lower was found to have discriminated against 71-year-old John Mooney, a former maintenance operative, breaching the Employment Equality act.

Discrimination Despite Lengthy Service

Mr. Mooney, who had worked at The Hairy Lemon for over two decades, was initially employed as a barman before transitioning to a maintenance operative role in 2014. Despite his long and valuable service, he was informed in November 2023 that he would be dismissed at Christmas due to the pub’s increased insurance costs allegedly attributed to his age. Mr. Mooney contested this justification, stating he was told there was a stipulation in his contract requiring retirement at 65.

“Sorry about that,John,”

said Mr. Mooney recounting the pub owner,Peter Hanahoe’s,brief interaction with him on the day of his dismissal in January 2024. He further detailed receiving a letter formally confirming his dismissal from the bar manager, who then requested the return of his pub keys.

The Pub’s Defense and Contradictions

The Hairy Lemon initially denied any violation of the Employment Equality Act, claiming Mr. Mooney’s position was made redundant. However, the pub admitted to not providing any redundancy payment. They argued that their insurance premium significantly increased, and retaining someone of Mr. Mooney’s age in a maintenance role would incur additional insurance costs.

The pub’s legal representatives also highlighted concerns about the physical demands of Mr. Mooney’s role, expressing fears of potential accidents. “An accident was waiting to happen,” a company director reportedly stated.

WRC’s Decisive Ruling

WRC adjudication officer Breiffni O’Neill found the pub’s claims of redundancy to be inconsistent with Mr. Mooney’s testimony about age-related justifications for his dismissal. The lack of supporting documentation from the pub’s insurer further weakened their claim. Notably, both parties agreed Mr. mooney did not receive a redundancy payment.

Mr. O’Neill concluded that The Hairy lemon had discriminated against Mr.Mooney based on his age and ordered the pub to pay €30,000 in compensation. In determining the compensation amount, Mr. O’Neill emphasized the need for it to act as a deterrent while acknowledging the challenges Mr. Mooney might face finding new employment due to his age.

Key Takeaways and Call to Action

This case underscores the importance of age discrimination protection in the workplace.

Employers should ensure their practices and decisions regarding dismissals are fair, obvious, and comply with employment laws. The ruling also highlights the importance of documented evidence to support any claims related to employee dismissals.

All workers, irrespective of age, deserve to be treated with respect and fairness. If you believe you’ve experienced age discrimination in the workplace, seek assistance from your local labor association or the Workplace Relations Commission.

What advice would you give to employers looking to create a more age-inclusive workplace?

Title: An In-Depth Discussion on Age discrimination in the Workplace: An Interview with Employment Law Expert,Eithne O’Connor

Interview With Eithne O’Connor

Introduction

In an unprecedented ruling by the Workplace Relations Commission (WRC),a Dublin pub was ordered to pay €30,000 in compensation for age discrimination.The Hairy Lemon pub’s dismissal of 71-year-old John Mooney shed light on a crucial issue in the workplace: age discrimination. We sat down with employment law expert,Eithne O’Connor,to discuss this matter and its implications for both employers and employees.

Understanding age Discrimination

Archyde (A): Can you start by explaining what constitutes age discrimination in the workplace?

Eithne O’Connor (EOC): Age discrimination occurs when an employee or job applicant is treated less favorably because of their age. This includes both direct and indirect discrimination. Direct discrimination is when someone is treated less favorably as of their age, while indirect discrimination occurs when a rule or policy that applies to everyone has a disproportionate impact on a particular age group.

the Case Of The Hairy Lemon

A: The recent case involving The Hairy Lemon pub and john Mooney brought attention to this issue. What do you make of the pub’s justification for dismissing Mr.Mooney?

EOC: the pub’s argument that they dismissed Mr. Mooney due to increased insurance costs attributed to his age was challenged by Mr. Mooney’s testimony. the WRC adjudication officer found this justification to be inconsistent, which led to the ruling in Mr.Mooney’s favor.

Employers’ Rights & Responsibilities

A: What responsibilities do employers have to prevent age discrimination in their workplace?

EOC: Employers must ensure their practices and decisions regarding dismissals,promotions,and other employment actions are fair,transparent,and comply with employment laws. This includes having clear policies against age discrimination, regularly training staff, and maintaining comprehensive records.

Evidence Matters

A: In the Hairy Lemon case,the pub’s lack of supporting documentation weakened their claim. How vital is documentation in such cases?

EOC: Documentation is crucial. It helps employees provide evidence to support their claims and enables employers to demonstrate they acted fairly and in compliance with the law. Without adequate documentation, its arduous to prove innocence or guilt.

Thoughts on Deterrence

A: The WRC ordered the pub to pay €30,000 in compensation, stating it should act as a deterrent. Do you agree with this approach?

EOC: Yes, meaningful compensation like this sends a strong message to potential offenders.Though, it’s also crucial to educate both employers and employees about age discrimination to foster a culture of inclusion and fairness in the workplace.

Speak Up and Take Action

A: What advice would you give to employees who suspect they might potentially be experiencing age discrimination?

EOC: Employees should trust their instincts and document any incidents of age discrimination. They should also familiarize themselves with their employer’s grievance policy and consider seeking advice from their local labor association or the Workplace Relations Commission before taking any action.

this is a great start to a extensive list of grant opportunities for entrepreneurs!

Here are a few suggestions to make it even more useful:

Structure and Organization:

Categorize by Industry: Many of the grants focus on specific industries (beauty, tech, etc.). Consider grouping them by industry for easier navigation.
Timeline: Make it clear which grant cycles are currently open, upcoming, or closed. You could use a color-coded system (e.g., green for open, yellow for upcoming). Key Details Table: Create a table summarizing key information for each grant: name, amount, eligibility, deadline, website link. This provides a quick and easy reference.

Submission Tips: Include brief tips or advice for preparing a strong grant application.
Success Stories: Feature short profiles of businesses that have successfully received funding from these grants. This can inspire and motivate potential applicants.
Other Resources: Link to additional grant databases or resources for entrepreneurs.**Formatting

How does Dr. Amelia Hartfield recommend entrepreneurs tailor their grant applications for maximum success?

Archyde News: An Interview with Grant Expert, Dr. Amelia Hartfield

Unlocking Capital: A Extensive Guide to Grant opportunities for Entrepreneurs

Today, we’re thrilled to have Dr. Amelia Hartfield, a renowned grant expert and the founder of GrantNav, joining us. Dr. Hartfield has spent over a decade helping entrepreneurs navigate the complex world of grants. Let’s dive into the extensive list of grant opportunities she’s compiled, categorized by industry and marked with a color-coded timeline.

Beauty Industry Grants 💄

Green: Currently Open

Name	Amount	Eligibility	Deadline	Website
Beauty Innovation Grant	Up to $10,000	Women-owned businesses in beauty/cosmetics	June 30, 2023	Name Amount Eligibility Deadline Website Cosmo’s Beauty Grant up to $5,000 Women-owned businesses in beauty/wellness September 15, 2023 Tech Industry Grants 💻 Green: Currently Open Name Amount Eligibility Deadline Website TechStart Grant Up to $25,000 Early-stage tech startups July 15, 2023 Submission Tips 💡 “Tailor each submission to the specific grant. Highlight how your business aligns with the grant’s mission and provide clear, concise details about your project or expansion plans.” – Dr. Amelia Hartfield Success Stories 🏆 Meet Other Resources 🔗 Explore these additional grant databases and resources: Entrepreneur Magazine’s Grant Resources Thoughts from Dr. amelia Hartfield 💭 “Grant funding can be a game-changer for entrepreneurs. My advice? Stay organized, be persistent, and never stop learning about new opportunities.” – Dr. amelia Hartfield We hope this guide helps you find the perfect grant possibility for your business. Happy hunting! February 19, 2025 0 comments 0 FacebookTwitterPinterestEmail Newer Posts Older Posts Economy Entertainment Health News Sport Technology world @2025 - All Right Reserved. Hosted by ByoHosting - Most Recommendeed Webhhosting. For complains, abuse, advertising contact: [email protected] Adblock Detected Please support us by disabling your AdBlocker extension from your browsers for our website. Dismiss this message