The better the question. The better the answer. The better the world works. У вас есть вопрос? У нас есть ответ. Решая сложные задачи бизнеса, мы улучшаем мир. У вас є запитання? У нас є відповідь. Вирішуючи складні завдання бізнесу, ми змінюємо світ на краще. Meilleure la question, meilleure la réponse. Pour un monde meilleur. 問題越好。答案越好。商業世界越美好。 问题越好。答案越好。商业世界越美好。

 

EY-DKM Economic Advisory Services

EY-DKM Economic Advisory, provides a full suite of economic services in the Irish market, helping both public and private sector clients understand the current and future environments they operate in, and allowing vitally-important scenario planning and decision-making.

Unique solutions

The EY-DKM Economic Advisory Service builds on recent investment in our Government, Infrastructure and Economic Advisory offering. Coming together with DKM provides the opportunity to build truly unique solutions for our clients across our service offerings.

Many of our Irish clients, domestic and international, are grappling with uncertainty from a variety of perspectives, including social, political and technological. With more than 35 years’ experience in the Irish market, DKM brings market-leading experience that helps our clients understand the future economic environment they operate in and navigate the road ahead.

The expanded team also plays a critical role in EY’s commitment to building a better working world in Ireland and gives us the experience to contribute insights and solutions to some of the most challenging issues we face.

Vast experience

EY-DKM Economic Advisory combines vast experience in the market as an essential source of sectoral understanding, economic forecasting and, ultimately, revenue growth for our clients and partners.

EY-DKM Economic Advisory works alongside EY’s global community of more than 180 economic advisory professionals.

Our services include:

  • Cost benefit analysis and project appraisal
  • Economic impact analysis
  • Sector-specific economic analysis including real estate, agri, construction, creative, energy, environment, health, housing, legal, tourism, transport, utilities, and land
  • Urban economics, socio-economic and regional development
  • Market structure and competition
  • Regulatory and policy economics
  • Expert witness
  • Modelling and forecasting, including; national, regional and sub-regional forecasts, CGE modelling, skills and revenue forecasting.
  • For more information on our Transaction Advisory Services click here.

EY - Budget 2019

Budget

Read our analysis of Budget 2019 and its implications for you and your business.


News

EY Ireland acquires leading economic consultancy firm DKM

EY Ireland acquires leading economic consultancy firm DKM


Learn more about our Economics for Business insights

EY - DKM Euroconstruct

DKM Economic Consultants is the Irish member of Euroconstruct, Europe’s main construction, finance and business forecasting network. Find out more.

Services

Sectors

Videos

Case studies

  • Agriculture
    /Food

    EY - The Economic Benefits from the Development of BioEnergy in Ireland to meet 2020 Targets

    The Economic Benefits from the Development of BioEnergy in Ireland to meet 2020 Targets

    DKM Economic Consultants with RPS Consulting Engineers completed this report in 2012, which was commissioned by the Irish BioEnergy Association (IrBEA) and Sustainable Energy Authority of Ireland (SEAI).

    See report

    Macroeconomic Outlook for Bord Bia

    DKM produces the Economic Environment chapter for Bord Bia’s annual Export Performance & Prospects report

  • Banking
    /Finance

    The SME Lending Market in Ireland and Comparisons with the European Experience

    This report was commissioned by the Irish Banking Federation. It examines the evidence in regard to SME lending and access to funds for Irish SMEs. Also examined is the basis for evaluating the credit experience of Irish SMEs in comparison to the experience of SMEs in other countries.

    EY - The Arab World - Long Term Economic Prospects & Opportunities for Ireland

    The Arab World - Long Term Economic Prospects & Opportunities for Ireland

    This report was launched by Minister for Jobs, Enterprise and Innovation, Richard Bruton TD in front of a large attendance at the Shelbourne Hotel in Dublin.

    See report

    Economic Impact of Dublin Business Innovation Centre

    A DKM Economic Consultants report entitled “Economic Impact of Dublin Business Innovation Centre " was launched by An Taoiseach, Enda Kenny TD in front of a large attendance at a function in Dublin to mark Dublin BIC’s 25th anniversary

  • Construction
    and Housing

    EY - Review of Part V of the Planning & Development Act 2000

    Review of Part V of the Planning & Development Act 2000

    Part V of the Planning & Development Act 2000 contained a radical new approach to the supply of Social and Affordable Housing in Ireland. More than a decade after its introduction, The Housing Agency was requested by the Department of the Environment, Community and Local Government to deliver a review of Part V. DKM was subsequently commissioned to produce a Consultation Document on a Review of Part V of the Planning and Development Act, 2000.

    See report

    Myhome Property Barometer

    DKM provides economic and market analysis on a quarterly basis for the MyHome.ie Property Barometer. In doing so, DKM analyses the latest trends in property prices as well as trends in the economic environment and how these are impacting on the property market.

    Joint Housing Strategy for the Administrative Areas of Limerick City & Co.Cos and Clare Local Auth

    This Housing Strategy is an update of the Limerick (City and County) and Clare (Clare County and Ennis) Housing Strategies, each of which is subsumed into their respective Development Plans, and combines all of these in a ‘Joint Housing Strategy’ covering the period 2010-2017.

    Irish Construction Prospects to 2016

    DKM Economic Consultants in conjunction with the Society of Chartered Surveyors Ireland (SCSI) published a report entitled 'Irish Construction Prospects to 2016' on 8th April 2015.

    EY - Economic Importance of Engineers

    Economic Importance of Engineers

    DKM was commissioned by Engineers Ireland to assess the contribution of Engineers to the Irish Economy. The study provided a profile of engineers in Ireland and measured their contribution to economic growth with particular emphasis on the knowledge economy and sustainability. Ireland’s competitive position with respect to the knowledge economy and the country’s science and technology profile were examined.

    See report
  • Creative Industry
    /Culture

    The Economic Impact of the Arts, Culture and Creative Sectors

    The Department of Arts, Sport and Tourism commissioned DKM to assess the economic impacts of the arts, culture and creative sectors in Ireland in 2009. This report focuses on the contributions to GNP of these sectors, in addition to employment generated and Exchequer impacts. The report also analysed culture-related tourism and assess the future prospects for the arts, culture and creative sectors.

    The Economic Contribution of the Copyright Based Industries

    This report, commissioned by a group comprising the creative industries in Ireland, examined the contribution of copyright-based industries to the Irish economy and considered the economic implications of further liberalisation of the copyright laws.

    Economic Impact of Redevelopment of the National Concert Hall

    This report was commissioned by the Department of Arts, Sport and Tourism and measures the economic impacts of a major redevelopment of the National Concert Hall in Dublin, from the point of view of the NCH itself, the Exchequer and the wider economy.

    EY - Economic Contribution of Clann Credo – the Social Investment Fund

    Economic Contribution of Clann Credo – the Social Investment Fund

    In 2011, DKM completed a study on the Economic Contribution of Clann Credo – the Social Investment Fund. The study established the economic impact of Clann Credo and its clients, and presented direct, indirect and induced economic impacts. DKM also analysed the contribution of the overall social enterprise and community business sector in Ireland utilising a new, comprehensive database compiled specifically for this study. The report was launched by An Taoiseach, Enda Kenny TD in December 2011.

    See report
  • Education
    /Skills

    The Economic Contribution of the Copyright Based Industries

    This report was launched by Minister for Jobs, Enterprise and Innovation, Richard Bruton TD in front of a large attendance at the Shelbourne Hotel in Dublin.

    EY - The Arab World - Long Term Economic Prospects & Opportunities for Ireland

    The Arab World - Long Term Economic Prospects & Opportunities for Ireland

    This report was launched by Minister for Jobs, Enterprise and Innovation, Richard Bruton TD in front of a large attendance at the Shelbourne Hotel in Dublin.

    See report
  • Energy
     

    EY - The Economic Benefits from the Development of BioEnergy in Ireland to meet 2020 Targets

    The Economic Benefits from the Development of BioEnergy in Ireland to meet 2020 Targets

    DKM Economic Consultants with RPS Consulting Engineers completed this report in 2012, which was commissioned by the Irish BioEnergy Association (IrBEA) and Sustainable Energy Authority of Ireland (SEAI).

    See report

    EY - Shannon LNG – Economic Benefits to the Irish Economy

    Shannon LNG – Economic Benefits to the Irish Economy

    This study analysed the economic benefits of the establishment of a Liquefied Natural Gas storage facility in south-west Ireland.

    See report

    EY - Potential Extension of Natural Gas in Northern Ireland

    Potential Extension of Natural Gas in Northern Ireland

    The Department of Enterprise, Trade and Investment Northern Ireland (DETI NI) commissioned a Feasibility Study Summary Report, from DKM in association with Fingleton McAdam, on the Potential Extension of Natural Gas and Related Services in Northern Ireland.

    See report

    Natural Gas as a Transport Fuel - An Economic, Financial and Technical Evaluation

    Bord Gáis Networks commissioned DKM in association with Fingleton White to carry out a study on the development of Compressed Natural Gas in the Irish transport sector, covering the economic, financial, technical and environmental aspects of using natural gas as a transport fuel. In doing so DKM established the scale and scope of the potential for CNG in the Irish transport market.

    Appraisal of Investments in Natural Gas Networks

    Over the last decade DKM has undertaken appraisals of a number of proposed extensions of the natural gas networks in Ireland and Northern Ireland. Clients include Bord Gáis networks and the Department of Enterprise, Trade & Investment Northern Ireland.

  • Environment
     

    The Economic Benefits from the Development of BioEnergy in Ireland to meet 2020 Targets

    DKM Economic Consultants with RPS Consulting Engineers completed this report in 2012, which was commissioned by the Irish BioEnergy Association (IrBEA) and Sustainable Energy Authority of Ireland (SEAI).

    EY - Ex Post Evaluation of Dublin Waste Water Treatment

    Ex Post Evaluation of Dublin Waste Water Treatment

    In 2012 DKM and CSIL Milan published an ex post Cost Benefit Analysis of the Dublin Waste Water Treatment Plant at Ringsend. The report utilised a novel methodology combining backward and forward-looking analysis, and was published by the European Commission

    See report

    Economic Assessment of Ireland’s Waste Management Infrastructure Needs to 2020

    This study with Greenstar, one of Ireland’s leading waste management companies, undertook a detailed analysis of Ireland’s waste management infrastructure requirements over the coming decade, and highlighted critical shortfalls in capacity going forward.

    Assessment of Economic Rationale for Altering Structure of Irish Household Waste Collection Market

    This study for the Irish Waste Management Association (IWMA) analysed in detail the economic, market and competition impacts of a proposed restructuring of the market for household waste collection services, including vertical and horizontal integration issues. The report was influential in bringing about a change in Government policy with regard to the market structure.

  • Health
     

    Strategic Options for Excise Duties on Alcoholic Drinks

    This report, for the Alcoholic Beverages Federation of Ireland (ABFI), sought to develop a unified method of taxing alcohol on the basis of its alcohol content. The existing system contained a number of inconsistencies between different alcohol types, which was increasingly anachronistic given the market and technical developments in the industry.

    Cost Benefit Analysis of Healthcare Infrastructure Investments

    Over the last number of years DKM has undertaken CBAs and Business Cases for over a dozen major investments in the Irish Healthcare sector. Notably CBA have been undertaken of among these have been the National Forensic Mental Health Services, the Mater Adult Hospital, Dublin, and the reorganisation of national “Cold Laboratory" Services.

    CORU – Regulating Health and Social Care Professionals. Updated Review of Potential Fee Structures

    DKM was commissioned to update and revise an earlier review of the most appropriate model to be used by The Health and Social Care Professionals Council (CORU) in setting fee levels for registration with the Registration Boards for each of the regulated healthcare professions. The initial review carried out by DKM advised on the potential fee structure; this was updated to reflect:

  • Planning
    /Regional Development

    EY - Review of Part V of the Planning & Development Act 2000

    Review of Part V of the Planning & Development Act 2000

    Part V of the Planning & Development Act 2000 contained a radical new approach to the supply of Social and Affordable Housing in Ireland. More than a decade after its introduction, The Housing Agency was requested by the Department of the Environment, Community and Local Government to deliver a review of Part V. DKM was subsequently commissioned to produce a Consultation Document on a Review of Part V of the Planning and Development Act, 2000.

    See report

    GeoView Commercial Premises Vacancy Report

    GeoView provides accurate and up-to-date data on the stock of commercial properties in Ireland. It was commissioned by GeoDirectory from DKM Economic Consultants. The report provides analysis from the most comprehensive national database of commercial buildings.

    Economic Impact of Royal College of Surgeons at Belcamp

    DKM Economic Consultants completed an Economic Impact of the Royal College of Surgeons in Ireland moving from St. Stephen’s Green to a centralised campus at Belcamp, where clinical training, research and patient care would be combined in a state-of-the-art collegiate urban environment.

    Economic Impact of Redevelopment of the National Concert Hall

    This report was commissioned by the Department of Arts, Sport and Tourism and measures the economic impacts of a major redevelopment of the National Concert Hall in Dublin, from the point of view of the NCH itself, the Exchequer and the wider economy.

    Economic Impact Assessment of the Proposed Masterplan Developments in Dun Laoghaire Harbour

    DKM, as part of a multidisciplinary team, led by Metropolitan Workshop, contributed studies on various economic aspects of the Masterplan.

    County Carlow Housing Strategy

    This Housing Strategy was prepared in accordance with Part V of the Planning and Development Act 2000 as amended and covers the functional area of Carlow Local Authorities (Carlow County Council and Carlow Town Council) for the period 2009-2014.

    Cork Docklands Economic Proposition - Location for Global Economic Investment

    DKM, as part of a team lead by Colliers International, provided the economic policy inputs to Cork Docklands Economic Proposition - Location for Global Economic Investment, for Cork City Council. This study involved inter alia detailed consultation with local landowners, industry leaders and enterprise agencies, with a view towards developing a strategy for the regeneration of the Cork Docklands.

    Affordability Index

    The EBS/DKM Affordability Index presents an analysis of changes in affordability for First Time Buyers in the Irish housing market.

  • Tourism
    /Leisure

    Strategic Options for Excise Duties on Alcoholic Drinks

    EY - Economic Assessment of a Regulated Casino Gaming Sector: Ireland 2008-2020

    Economic Assessment of a Regulated Casino Gaming Sector: Ireland 2008-2020

    This study assessed the economic impacts for Ireland of establishing a regulatory structure for casino gaming, including the positive spin-offs for the online gaming industry.

    See report

    EY - Croke Park Social, Economic, Business & Environmental Influences

    Croke Park Social, Economic, Business & Environmental Influences

    A study of the local regional and national impacts of the Croke Park sports stadium, Dublin. This multidisciplinary project, project managed by DKM, analysed the social, economic, business and environmental influences/effects of the stadium and its interactions with the local community and the city as a whole.

    See report

    Cork Docklands Economic Proposition - Location for Global Economic Investment

    DKM, as part of a team lead by Colliers International, provided the economic policy inputs to Cork Docklands Economic Proposition - Location for Global Economic Investment, for Cork City Council. This study involved inter alia detailed consultation with local landowners, industry leaders and enterprise agencies, with a view towards developing a strategy for the regeneration of the Cork Docklands.

  • Transport
     

    Option Appraisal for the Future Delivery of Driver Testing Services in Ireland

    DKM and FPM Chartered Accountants were commissioned by the Department of Transport to undertake an option appraisal to assist in determining whether the driver testing service should continue to be directly provided by the RSA or be outsourced to a service delivery partner.

    Natural Gas as a Transport Fuel - An Economic, Financial and Technical Evaluation

    Bord Gáis Networks commissioned DKM in association with Fingleton White to carry out a study on the development of Compressed Natural Gas in the Irish transport sector, covering the economic, financial, technical and environmental aspects of using natural gas as a transport fuel. In doing so DKM established the scale and scope of the potential for CNG in the Irish transport market.

    Demographic input into Railway Procurement Agency (RPA) Transport Model Update

    Using DKM's Regional Population Projection Model, populations, household numbers, persons at work and car ownership were projected to 2025 for the 638 zones in the RPA’s Transport Model.

Reports

Our latest report

Brexit Watch: Monthly briefing on Brexit developments

The publication of the Withdrawal Agreement brought with it a degree of clarity and a further wave of instability.

View the report

 
  • BPFI SME
    Market Monitor

    Commissioned by the Banking and Payments Federation Ireland (BPFI), the EY-DKM BPFI SME Market Monitor is a quarterly publication which presents up-to-date trends across a range of indicators which are important for the performance of the SME sector, grouped under:

    • Sentiment indicators
    • Macro-economic indicators
    • Sectoral indicators
    • Lending indicators.

    In total fifteen indicators, published on a quarterly and/or monthly basis, are presented in tabular and graphical form with a brief commentary and an overall assessment of what they tell us about the current environment for SMEs.

    November 2018 | Issue 16

    Dublin's rental market feels the heat from ongoing housing crisis

    Key highlights

    Housing: Residential rents in Dublin continue on an upward trend with average rent of €1,587 in Q2 2018. Residential property price inflation moderated further in August with YoY growth of 6.1%. Housing completions in Dublin totalled 3,011 in the first half of 2018 with a further 3,383 commencements in the same period.

    Transport: Public transport trips on the LUAS surpassed 10 million (SA) for the first time in Q2 2018 with a total of 56.3 million (SA) trips undertaken across all four transport types.

    Benchmarking: CBREs EMEA Tech Cities Index has ranked Dublin in 3rd position because of the scale of large and small tech companies looking to secure accommodation in the city. Over 40% of all office take-up in Dublin in the first half of 2018 was by tech occupiers looking to expand existing operations.

    The Mastercard Dublin SpendingPulse indicates that overall growth in consumer expenditure in Q3 2018 grew by 4.3% YoY (seasonally adjusted). Furthermore, spend on entertainment was particularly strong, with YoY growth of 11.7% in Dublin. The tourism sector has also seen a boost from UK tourists, with two consecutive quarters of positive YoY growth following five consecutive quarters of negative growth after the Brexit vote.

    Learn more

    October 2018 | Issue 15

    Commenting on the results, John Daly, an Economist with EY-DKM, said:

    The economic environment SMEs operate in remains positive, based on a review of the vast majority of macroeconomic indicators tracked in this SME Monitor. Labour market conditions remain positive, growth in domestic activity is quite strong, while total outstanding debt provided to key SME sectors continues to grow, following years of decline.

    However, a great deal of caution should be taken in regards to the medium term, as ongoing threats such as a No-Deal Brexit scenario and the increasing possibility of global trade wars, pose serious risks to the Irish economy. How these risks pan out over the coming months remains to be seen, but they are undoubtedly creeping into the overall mix.

    Learn more

    June 2018 | Issue 14

    The latest review of the SME economic environment provides further evidence of continued improvement in the domestic economy, with the vast majority of macroeconomic indicators trending favourably when compared to corresponding levels in the previous year.

    Learn more

    March 2018 | Issue 13

    The Irish economy continues to grow strongly, with notable improvements in employment, production and consumption. Government infrastructure programmes, the NPF and NDP, should offer further opportunities to SMEs across the country.

    Learn more

    October 2017 | Issue 12

    The majority of indicators tracked are encouragingly positive. However, given the unpredictability of global factors, it is difficult to know whether this will continue, and to what extent it could impact the SME environment in the medium term.

    Learn more

    June 2017 | Issue 11

    It appears from the latest assessment that unfolding external events, particularly Brexit, seem to be taking their toll on the Irish economy, with a mixed picture unfolding regarding the current state of the SME environment. Key economic indicators, apart from very positive GDP/GNP headline figures, portray a more mixed picture, which suggests conditions are not as robust as certain headline figures might suggest.

    Learn more

    February 2017 | Issue 10

    Upon examination of the fifteen indicators, there appears to be an emerging concern about the impact of international factors, notably Brexit and the new US President, on the Irish economy. This is evident from recent trends in consumer confidence, the moderation in the volume growth in retail sales, increases in input prices in manufacturing, food, and construction, a decline in the number of tourists visiting from Britain, and an increase in the savings ratio.

    Learn more

    October 2016

    This issue notes the continuation of the positive economic environment for SMEs as the economic recovery continues to gather momentum, and highlights the importance of ascertaining the true underlying performance of the economy for SMEs by examining a broader set of indicators other than the headline GDP and GNP figures, which have been subject to substantial revision.

    By and large, the latest assessment, based on 15 indicators, suggests a modestly positive environment; but it should be noted that a number of indicators were unchanged, whilst a small number registered declines.

    DKM’s Annette Hughes questioned whether these can be attributed to uncertainty over Brexit, but acknowledged that it is perhaps too early to say. She also stated that “the most useful indicator of activity for the SME sector is underlying domestic demand, increased by 8.7% on an annual basis in Q2 2016. But this increase reflects substantial revisions to the investment component of the National Accounts. Excluding intangibles, domestic demand still expanded, but at a lower rate (1.9%) in year-on-year terms. With the annual rate of growth in the volume of consumer spending having slowed in each of the last three quarters, there is therefore no room for complacency”.

    This issue also points to key positive trends in other indicators, including an increase in employment, the tourism sector’s strong performance, a continuing fall in unemployment – all important for sustaining the SME sector’s performance.

    At the report launch, one week in advance of the Budget, the challenge of maintaining competitiveness was highlighted, as SMEs are key suppliers to the export sector.

    Learn more

    May 2016

    This issue highlights the positive impact being felt by SMEs as the economic recovery continues to strengthen and grow, and highlights the improving environment for SMEs spurred by a rebound in domestic demand supported by an expanded labour market, with DKM’s Annette Hughes stating that: “With 2016 well underway, indications are that the continuing economic recovery is increasingly benefitting SMEs. The strengthening GDP, with 7.8% growth in 2015, was associated with a broadening of the economic recovery, which has been in train now for the past eighteen months. Both have been facilitated by continued improvement in the labour market which has contributed to the rebound in domestic demand – a key driver of the recovery.”

    The report also points to key positive trends in other indicators, including a record-breaking performance in the tourism sector, and a continuing fall in unemployment, and underlines the importance to SMEs of sustaining this recovery.

    However it also outlines the challenges SMEs face, sounding a note of caution in respect of average earnings and the importance of maintaining competitiveness: “With average earnings in the economy still behind peak levels, they began to recover in 2015, increasing by 1.7%. With momentum gathering across the economy for further increases in earnings, it will be important not to jeopardise any further positive benefits from a continued recovery in employment for SMEs across the country with excessive wage demands, as some locations have yet to join the recovery.”

    Learn more

  • Dublin Economic
    Monitor

    The Dublin Economic Monitor is a joint initiative of the four Dublin local authorities. The first of its kind to look exclusively at the Dublin city region, it tracks 15 key economic indicators, capturing data from the height of the boom to the economic crash and subsequent recovery.

    It will be published online every quarter at http://www.dublineconomy.ie. To register for future issues, please visit: http://j.mp/SubscribeDEM

    November 2018 | Issue 15

    Dublin's rental market feels the heat from ongoing housing crisis

    Key highlights:

    Housing: Residential rents in Dublin continue on an upward trend with average rent of €1,587 in Q2 2018. Residential property price inflation moderated further in August with YoY growth of 6.1%. Housing completions in Dublin totalled 3,011 in the first half of 2018 with a further 3,383 commencements in the same period.

    Transport: Public transport trips on the LUAS surpassed 10 million (SA) for the first time in Q2 2018 with a total of 56.3 million (SA) trips undertaken across all four transport types.

    Benchmarking: CBREs EMEA Tech Cities Index has ranked Dublin in 3rd position because of the scale of large and small tech companies looking to secure accommodation in the city. Over 40% of all office take-up in Dublin in the first half of 2018 was by tech occupiers looking to expand existing operations.

    The Mastercard Dublin SpendingPulse indicates that overall growth in consumer expenditure in Q3 2018 grew by 4.3% YoY (seasonally adjusted). Furthermore, spend on entertainment was particularly strong, with YoY growth of 11.7% in Dublin. The tourism sector has also seen a boost from UK tourists, with two consecutive quarters of positive YoY growth following five consecutive quarters of negative growth after the Brexit vote.

    Learn more

    August 2018 | Issue 14

    This issue shows that Dublin’s economic resurgence is reflected in lowest unemployment rate in 10 years.

    Key highlights:

    Employment: There were an additional 13,200 employees added to the workforce in the quarter with 685,400 people now employed in Dublin. This is the highest quarterly increase in employment recorded in 10 years.

    Housing: Residential rents in Dublin rose 7.8% YoY, leaving average rents at €1,527 in Q1 2018, the highest level since the beginning of the series (Q3 2007). New data from the CSO indicates that housing completions in Dublin totalled 5,600 in 2017, a 56% increase on the total completions recorded in the Capital in 2016.

    Benchmarking: Savills Dynamic Cities Index 2018 ranks Dublin 6th position for commercial real estate investment, driven by its continuing emergence as a financial hub.

    This issue of the Economic Monitor also includes Mastercard’s Dublin SpendingPulse, with insights on retail and tourist spending patterns across Dublin and Ireland. It shows that overall consumer expenditure grew by 5.2% YoY in Dublin, while the US, Chinese and French markets have all contributed strongly to growth in total overseas tourist spending of 16.2%.

    This issue also contains a special report by Sharon Scally (Director/Chairperson, Sandyford Business Improvement District, SBID) on how the east Dublin global business quarter is driving innovation and investment for the area. A second special report by Les Moore (Head of Parks Services, Dublin City Council and Chair of the Dublin bay Biosphere Partnership) focuses on how the Dublin Bay Biosphere has turned its UNESCO designation into an opportunity for sustainable business is also included in this issue.

    Learn more

    May 2018 | Issue 13

    This issue shows Dublin’s economy continues to strengthen amid housing challenges.

    Key highlights (all seasonally adjusted):

    Employment: Dublin’s unemployment rate stands at 6.4% as of Q4 2017 – a 0.4% drop year on year.

    Housing: Residential rents in Dublin increased to over €1,500 a month, up 5.2% YoY, and continue to exert pressure on the GDA in Q4 2017, which saw YoY growth of 7.5%. Similarly, residential property prices registered 12% YoY growth for the first time since May 2015. At 103 index points, the series is now at its highest level since the end of 2008.

    Benchmarking: Dublin ranked 7th for its business and labour landscape, market openness, education and lifestyle in the 2018 Global Talent Competitiveness Index, and in second place in the 2018 fDi Top 25 European Cities and Regions of the Future – only one place below London.

    This issue of the Economic Monitor also includes Mastercard’s Dublin SpendingPulse, with insights on retail and tourist spending patterns across Dublin and Ireland. It shows that overall consumer expenditure growth in the first three months of 2018 remains robust, while the US, Chinese and French markets have all contributed strongly to growth in total overseas tourist spending.

    This issue also contains a special Dublin Tourism Development Update by Keelin Feagan, Failte Ireland, as well as an article from Frank Nevin of South Dublin County Council on transforming South Dublin’s innovation landscape.

    Learn more

    February 2018 | Issue 12

    This issue shows Dublin’s economic performance continuing to improve, but long-standing issues remain in areas such as housing.

    Key highlights (all seasonally adjusted):

    Employment: Dublin’s unemployment rate continued to decline in Q3 2017 to 6.1%.

    Housing: Residential rents in Dublin gathered pace in Q3 to exceed an average of €1,500 per month for the first time. In October residential property prices recorded over 10% YoY growth for a fifth consecutive month. Housing completions in Dublin strengthened to 620 in November, but commencements have followed a more inconsistent pattern.

    Travel: Public transport trips increased at an exceptional rate of 5 million passenger journeys, or 10.1% YoY, in Q3 to nearly 55 million trips. Passenger arrivals at Dublin Airport continued to increase in Q3 to reach a new monthly peak of 1.24 million in September.

    This issue of the Economic Monitor includes the first Mastercard Dublin SpendingPulse, with insights on retail and tourist spending patterns across Dublin and Ireland. It shows total retail sales in Dublin recorded strong increases in Q4 2017, with particularly robust YoY growth in household goods and eCommerce sales, while the US market was vital to growth in total overseas tourist spending.

    This issue contains a special report by Bryan Coughlan of Fingal County Council on the strong competitiveness of the Irish and Dublin economies in an international context.

    Learn more

    October 2017 | Issue 11

    This issue shows Dublin’s economy gathering pace with positive trends across a range of indicators, most notably in the labour market and tourism.

    Key highlights (all seasonally adjusted):

    Employment: Dublin’s unemployment rate dipped to a 9-year low of 6.1% in Q2 2017.

    Housing: Residential rents in Dublin returned to strong levels of growth in Q2 as average rents for houses and apartments reached new peaks. Residential property prices rose to a 9-year high with YoY growth rates exceeding 11% in both June and July. Housing completions in Dublin increased to over 540 in May 2017, and are expected to rise further on the back of greater levels of housing commencements.

    Travel: Public transport trips continued to grow strongly to reach a new peak of over 52 million passenger journeys. Passenger arrivals at Dublin Airport maintained upward momentum on the back of greater connectivity to other international destinations.
    This issue contains a special report by Bryan Coughlan of Fingal County Council on the strong competitiveness of the Irish and Dublin economies in an international context.

    Learn more

    July 2017 | Issue 10

    This issue contains new indicators on the Dublin hotel market from STR Global. It shows Dublin’s economy is gathering pace, with positive trends across a range of indicators, most notably in the labour market and tourism.

    Key highlights:

    Employment: Dublin’s unemployment rate remained stable in Q1 2017 at 6.3%.

    Housing: Dublin’s hotel market remained buoyant as occupancy rates exceeded 82% and Average Daily Room Rates reached a new post-recession peak. Residential rents in Dublin showed some signs of moderation in Q1 as they declined QoQ for apartments, and remained stable for houses. Residential property price growth accelerated to over 8% YoY in both March and April 2017. Office rents were stable in Q1, but remained at peak levels in the city centre and south suburbs. Housing completions in Dublin remained low in Q1 with fewer than 430 units completed in each of the first three months.

    Travel: Public transport trips reached a new peak of almost 51 million passenger journeys in Q1 despite industrial action.

    This issue contains a special report by Dearbhla Lawson on Dublin Area Tourism Plans outlining the four local authorities’ roles in supporting this sector of Dublin’s economy. There is also a special article from Don Nugent, Director of Dundrum Town Centre, on how the centre is increasingly offering ’experiential shopping’.

    Learn more

    April 2017 | Issue 9

    This issue contains indicators which show the Dublin economy continuing to perform well in spite of domestic challenges in the housing market and international uncertainty surrounding Brexit.

    Key highlights

    Employment: Dublin’s unemployment rate dipped for a second consecutive quarter in Q4 2016, falling below 7% for the first time in over 8 years.

    Housing: Residential rents in Dublin for both houses and apartments rose markedly, widening the gap between it and the rest of the country. Residential property prices continued to increase at rates in excess of 5% YoY between November 2016 and January 2017. Housing completions in Dublin reached just 4,200 across 2016, but increasing commencements point to strengthening supply.

    Travel: Arrivals at Dublin Airport reached a new peak of over 1.2 million in December 2016 to cap an exceptionally strong year in which 13.8 million passengers arrived.

    Trade: Cargo handled at Dublin Port remained close to peak levels with a throughput of 8.8 million tonnes in Q1 2017, but passenger trips declined.

    This issue also contains a special report by Ronan Lyons, Assistant Professor at Trinity College Dublin, who assesses the effects of housing on Dublin’s competitiveness, and a special article from Colm McCarthy on infrastructural investment.

    Learn more

    January 2017 | Issue 8

    This issue shows mixed economic signals resulting from a combination of domestic and external factors, and reflects a strong economy which nonetheless is facing a number of challenges.

    Key highlights

    Employment: Dublin’s unemployment rate dipped slightly to 7.8% in Q3 2016 following an unexpected increase in Q2. Employment levels in Dublin continued to rise, most significantly in industry and construction.

    Housing: Residential rents in Dublin showed mixed signs in Q3 as house rents s dipped, but rents for apartments rose. Residential property price growth sharpened between July and October 2016 with prices returning to 2009 levels.

    Travel: Passenger arrivals at Dublin Airport reached a new monthly record of 1.17 million in September.

    Speaking at the publication of this issue, Lorcan Blake, Economic Consultant at DKM Economic Consultants said: “The latest indicators for the Dublin economy point to a strong performance with growth underpinned by an ongoing improvement in the labour market and robust business activity levels. However, the downward trend in consumer sentiment and stubbornly high residential and commercial rents are of concern.”

    This issue also contains an article by the Managing Director of Future Analytics Consulting Limited, Dr. William Hynes, on The Dublin Regional Enterprise Strategy 2017-2019, and a special feature by Eoin Doherty, Microsoft’s Regional Datacenter Director for EMEA, on the company’s presence in Grange Castle Business Park, Dublin 22.

    Learn more

    October 2016 | Issue 7

    This issue shows that Dublin’s economic performance is broadly improving, but challenges related to housing and the unfolding consequences of Brexit remain a problem.

    Key highlights

    Employment: Growth continued at pace, with 25,000 new jobs added in the year to Q2. Owing to a faster increase in the labour force, the unemployment rate rose slightly compared to Q1 and stood at 7.9% in Q2.

    Housing: Dublin residential rents returned to growth in Q2, with rents for both houses and apartments rising sharply. Residential property prices rose 3.8% YoY in July to stand at the highest level since September 2009. However, this increase was markedly slower than in the rest of Ireland, and housing completions remained subdued.

    Travel: Arrivals at Dublin Airport continued to increase at a rapid rate, reaching a record high of almost 1.14 million in May 2016, evidence of the tourism industry’s continued strong performance. Passenger trips on Dublin’s public transport system fell back to 50 million in Q3 on foot of strikes and closures in the LUAS service.

    Learn more

    July 2016 | Issue 6

    Key highlights

    Employment: Dublin unemployment rates fell sharply in Q1 to 7.0%, their lowest level since Q3 2008.

    Housing: Residential rents in Dublin reached new peaks in Q1 with average rents for both houses and apartments increasing, albeit at slowing rates. Residential property prices returned to growth in Dublin between March and May, following declines around the turn of the year.

    Travel: In Q1 passenger trips on Dublin’s public transport system climbed to over 50 million for the first time in the series (which started in Q1 2010).

    Dublin’s population recorded robust growth of 5.7% between 2011 and 2016 to stand at 1.35 million in April‘s census.

    Consumer sentiment: Dublin KBC/ESRI Consumer Sentiment in Dublin fell in Q2, reflecting consumers’ greater uncertainty about the economic outlook and job prospects.

    Business output: Dublin MARKIT PMI signalled a further increase in business output in Q2, but the rate of expansion was the weakest since Q2 2013.

    Learn more

    April 2016 | Issue 5

    Key highlights

    Employment: Dublin unemployment rates remained stable at 7.8% in Q4 2015 as total employment increased marginally in the capital.

    Housing: Dublin residential rents continued to rise as average apartment rents reached their highest level recorded since Q3 2007. House completions accelerated in February 2016, with over 440 units completed.

    Travel: Dublin Airport’s arrivals again exceeded one million in December 2015 to cap a year of remarkable growth of over 15.1%.

    Trade: Dublin Port maintained significant momentum in Q1 2016, handling over 8.6 million tonnes of cargo.

    Consumer sentiment: The Dublin KBC/ESRI Consumer sentiment Index for Dublin improved in Q1, driven principally by more positive consumer assessment of financial circumstances.

    Business output: Dublin MARKIT PMI data continued to increase sharply in Q1, with the strongest expansion in business activity in the construction sector.

    Learn more

    January 2016 | Issue 4

    Key highlights

    Employment: Dublin unemployment rates fell to a 6-year low (7.8%) in Q3 2015 driven by exceptionally strong job growth across all sectors of the capital’s economy. Employment in its services sector is at its highest level (528,000) since the series began in Q1 1998.

    Housing: Residential rents in Dublin maintained an upward trajectory in Q3 to reach their highest level recorded since 2008. Housing completions totalled almost 2,900 in 2015, 11.5% below 2014 as the long awaited recovery in residential construction remains elusive.

    Travel: Dublin Airport’s exceptionally strong year continued through to September 2015 as passenger arrivals in the month increased by 14.4% year-on-year.

    Trade: Dublin Port handled over 32 million tonnes of cargo in 2015, with both exports and imports increasing.

    Consumer sentiment: Consumer sentiment in Dublin strengthened in Q4 2015 due principally to improved consumer assessment of household finances, and greater optimism around the job market.

    Business output: Dublin PMI data recorded a further strong improvement in business confidence in Q4, supported by growth in new orders and a sharp increase in construction sector output.

    Learn more

  • EY-DKM
    Brexit Watch

    EY-DKM Brexit Watch contains Brexit developments from DKM Economic Consultants. It is a valuable reference tool for business leaders and decision-makers in Ireland, providing an accessible, up-to-date round-up and commentary of developments.

    November 29th 2018 | Issue 35

    Key highlights:

    • Draft Withdrawal Agreement published
    • Currency fluctuations and Brexit
    • Businesses cautiously welcome draft Withdrawal Agreement

    Learn more

    October 24th 2018 | Issue 34

    Key highlights:

    • No Brexit summit in November
    • Island of Ireland agricultural trade
    • Continued uncertainty damages business confidence

    Learn more

    September 27th 2018 | Issue 33

    Key highlights:

    • Salzburg summit fallout
    • Brexit and goods trade between ROI and the UK
    • Business developments and EY’s current Brexit outlook

    Learn more

    August 28th 2018 | Issue 32

    Key highlights:

    • Publication of the first batch of the UK’s ‘no-deal’ technical notices
    • The importance of cross channel travel to the Republic of Ireland’s economy
    • Increased trade uncertainty

    Learn more

    July 27th 2018 | Issue 31

    Key highlights:

    • Publication of the UK White Paper and its implications
    • The impact of Brexit on aerospace regulation and future airspace use
    • Business reaction to the White Paper and the Business of a Connected Ireland Report

    Learn more

    June 29th 2018 | Issue 30

    Key highlights:

    • Tánaiste warns of difficult summer talks
    • Brexit bill becomes law
    • Brexit and firm’s supply chains

    Learn more

    June 15th 2018 | Issue 29

    Key highlights:

    • Taoiseach no longer expecting progress on backstop by June
    • Theresa May avoids defeat in the Commons
    • Brexit and third level education in Ireland

    Learn more

    June 1st 2018 | Issue 28

    Key highlights:

    • Minister for Foreign Affairs and Trade boosts commitment to Good Friday Agreement
    • Tensions high for Prime Minister at both home and abroad
    • Tourism in NI: the silver lining?

    Learn more

    May 21st 2018 | Issue 27

    Key highlights:

    • EU further supports the Irish Government's stance
    • ‘You can trust me to deliver’ - Theresa May’s latest message to the UK
    • The International Monetary Fund  releases latest forecasts

    Learn more

    May 4th 2018 | Issue 26

    Key highlights:

    • Committee recommends Multiannual Financial Framework include funding for Brexit impacts
    • House of Lords again votes against the Government on Withdrawal Bill
    • Costs and Benefits: Learning from experience

    Learn more

    April 20th 2018 | Issue 25

    Key highlights:

    • SPU shows strong growth forecasts but don’t expect an expansionary budget in light of Brexit
    • House of Lords offers up another challenge to Prime Minister May
    • What does sterling appreciating and depreciating mean for the Irish economy?

    Learn more

    April 6th 2018 | Issue 24

    Key highlights:

    • Opposition parties accuse Government of lacking action
    • May puts forward plan for ‘customs partnership’ with EU
    • Global context as negotiations on the future trade relationship begin

    Learn more

    March 23rd 2018 | Issue 23

    Key highlights:

    • Concrete border discussions to start ‘as early as next week’ in effort to keep issue at the fore of discussion
    • Transition Agreement Secured – what was agreed and who reacted
    • Current Account Balance shows surplus with the UK for 2017

    Learn more

    March 9th 2018 | Issue 22

    Key highlights:

    • Taoiseach rebuts May’s suggestion that negotiations are a three way discussion
    • Draft Withdrawal Agreement met with ’anger’ in the UK
    • Sector focus: Retail

    Learn more

    February 23rd 2018 | Issue 21

    Key highlights:

    • Ambassador responds to Taoiseach’s comments on a ‘Norway Plus’ deal
    • Theresa May receives ‘ransom note’ from hard-line Brexiters
    • Looking back on 20 Issues of Brexit Watch analysis

    Learn more

    February 9th 2018 | Issue 20

    Key highlights:

    • Taoiseach looks for certainty from UK Government
    • Leaked analysis further spits the Conservative Party
    • Markets dip over the week
    • Bank of England discusses inflation and interest rate hikes

    Learn more

    January 26th 2018 | Issue 19

    Key highlights:

    • Taoiseach Varadkar makes his first appearance at the European Parliament
    • David Davis appears in front of the Brexit Committee
    • UK-France Summit sees Macron hold firm on financial services trade deal conditions
    • EU Debt-to-GDP figures released for Q3 2017

    Learn more

    January 11th 2018 | Issue 18

    Key highlights:

    • Reshuffle does little to reignite the Tories
    • EU budget planning looks to fill Brexit shaped hole
    • End of year indicators show strong Irish growth

    Learn more

    December 14th 2017 | Issue 17

    Key highlights:

    • Time to move on to Phase Two
    • Impact Papers and the role of forecasting
    • Job relocations to Dublin could be over-estimated

    Learn more

    November 30th 2017 | Issue 16

    Key highlights:

    • Election averted and breakthrough with the divorce bill
    • A primer on productivity
    • Ireland’s SMEs leading the eurozone pack for SME employment growth

    Learn more

    November 16th 2017 | Issue 15

    Key highlights:

    • Chaos in the House of Commons, with Theresa May’s influence threatened
    • How will decisions around the border affect Irish trade
    • Irish Stock Exchange weighing up options for a buy-out

    Learn more

    November 3rd 2017 | Issue 14

    Key highlights:

    • Negotiations in Stormont take focus away from the EU
    • BoE raises interest rates for the first time in a decade
    • Taoiseach looks to the US for new jobs

    Learn more

    October 20th 2017 | Issue 13

    Key highlights:

    • Mixed messages from politicians on a ‘no deal’ Brexit outcome
    • Response to Brexit-proofing in Budget 2018, and the latest inflation trends
    • Hope could be found for Ireland in the derivatives contract market

    Learn more

    October 5th 2017 | Issue 12

    Key highlights:

    • Negotiations at a standstill
    • Pre-Budget submissions call for ‘Brexit-proofing’
    • Bids for European bodies look uncertain

    Learn more

    September 21st 2017 | Issue 11

    Key highlights:

    • UK message increasingly contradictory
    • Cross-border consumption developments
    • Dock Watch: XL and KBRA pick Dublin’s fair city

    Learn more

    September 7th 2017 | Issue 10

    Key highlights:

    • Commission sides with Ireland on border issues
    • EFTA insight: is the UK heading back to a club it helped found?
    • Dock Watch: SME trading contraction could "derail" the economy

    Learn more

    August 24th 2017 | Issue 9

    Key highlights:

    • Britain's position: an ever closer divorce?
    • A closer look at UK papers on Northern Ireland and the CJEU
    • Dock Watch: no commitments yet from Bank of America

    Learn more

    August 10th 2017 | Issue 8

    Key highlights:

    • Is Britain edging closer to a financial settlement?
    • Education: an Irish export market of increasing value?
    • Poles apart: Irish consumer spending up as UK spending falls.

    Learn more

    July 27th 2017 | Issue 7

    Key highlights:

    • UK Cabinet welcomes free movement (at least temporarily),
    • Energy focus: implications of Brexit for the Irish energy market
    • Why headlines of Dublin being "streets ahead" in relocation game could be misleading.

    Learn more

    July 13th 2017 | Issue 6

    Key highlights:

    • DKM's take on political developments since Issue 5 (29th June),
    • Relocations: who's winning?
    • Pharma: sweet pills for the Irish industry?

    Learn more

    June 29th 2017 | Issue 5

    Key highlights:

    • Brexit: One Year On – in quotes,
    • The UK Economy DKM on the anniversary of the referendum
    • Exchange rates and Irish tourist market: more than meets the eye?

    Learn more

    June 15th 2017 | Issue 4

    Key highlights:

    • The UK election and its consequences,
    • UK businesses unprepared for stricter migration rules
    • An exposure analysis of Ireland’s agrifood sector to the UK economy

    Learn more

    June 1st 2017 | Issue 3

    Key highlights:

    • DKM's take on UK polls, AEOs and ESMA governance,
    • A digest of expert accounts on tariffs, trade and customs in the context of Brexit
    • Our regular 'Dock Watch', looking at the relocation of City firms post-Article 50

    Learn more

    May 18th 2017 | Issue 2

    Key highlights:

    • DKM's take on political developments since publication of Issue 1 (5th May)
    • An overview of Ireland’s trade in goods and services
    • Our regular 'Dock Watch', looking at the relocation of City firms post-Article 50

    Learn more

    May 5th 2017 | Issue 1

    Key highlights:

    • DKM's take on political developments since the triggering of Article 50
    • A handy explanation of the EU Customs Union and Single Market
    • A close-up of the potential disruption of any border on the island of Ireland/li>
    • Our regular 'Dock Watch', looking at the relocation of City firms post-Article 50

    Learn more

  • EY-DKM
    Economy Watch

    The essential reference tool for business leaders and decision-makers in Ireland, Economy Watch is a DKM Economic Consultants look at the Irish economy. DKM’s unique Snapshot of Economic Forecasts presents the results of a survey of economic forecasts from a range of key Irish and international sources in an easy-to-use format.

    Economy Watch Issue 17

    Economy Watch Issue 18

    Economy Watch Issue 19

  • Geoview
     

    Commissioned by GeoDirectory from DKM Economic Consultants, GeoView provides accurate and up-to-date data on Ireland’s stock of commercial properties, and analysis from the most comprehensive national database of commercial buildings.

    August 2018

    Q2 2018: Commercial Vacancy Rates Report

    The latest GeoDirectory data continues to show an imbalance in commercial activity in Ireland as vacancy rates outside of the Greater Dublin Area remain notably high. Vacancy rates were particularly high in the counties of Sligo (18.8%), Galway (16.2%), Mayo and Leitrim (both 15.6%) and Roscommon (15.4%).

    Furthermore, a total of 16 of the 26 counties still have vacancy rates above the national average while the gap between Leinster, the province with the lowest average vacancy rate and Connacht, which has the highest average vacancy rate, has increased by 0.6% on the corresponding gap last year to 3.8% in Q2 this year.

    There have been year-on-year declines in vacancy rates in 14 of the 26 counties compared with only 2 counties in Q2 2017. The largest annual decline in average vacancy rates was seen in Dublin (-1.6%), while there was also notable declines in counties outside Dublin, such as in Limerick (-0.8%) and Leitrim (-0.6%) as well as in Tipperary, Cavan, Longford and Wicklow (0.5% each).

    Learn more

    July 2018

    Q2 2018: Residential Buildings Report

    The twelve months to June 2018 saw a considerable rise in residential construction activity, according to figures from the latest GeoView Residential Buildings Report. In total, 9,251 buildings were classified as being under construction, representing a 55% increase on June 2017 levels.

    The report found that 19,680 residential addresses were added to the GeoDirectory database since June 2017. The national residential vacancy rate is 4.8%, with 21 out of 26 counties experiencing year-on-year declines in vacancy rates.

    9,251 buildings were classified as being under construction in June 2018, two-thirds in Leinster, while Donegal had the highest proportion of its stock classified as holiday homes at 11.4%.

    Learn more

    February 2018

    Q4 2017: Commercial Vacancy Rates Report

    According to the GeoDirectory database, there were a total of 211,958 commercial address points across the country in Q4 2017. Of this total, 28,091 were classified as being vacant, implying that the national vacancy rate currently stands at 13.3%, down 0.2% on the previous year.

    Overall, commercial activity was notably concentrated on the East coast of Ireland, with Leinster (including Dublin) and the Greater Dublin Area accounting for 49.4% and 33.2% of the overall stock respectively. This is in sharp contrast to Connacht and Ulster, with these provinces only accounting for 13.7% and 7.8% respectively.

    In terms of counties, just over 40% of commercial address points were located in the counties of Dublin (23.5% or 49,814), Cork (11.4% or 24,171), and Galway (5.9% or 12,597) highlighting the commercial dominance of their respective urban centres.

    Learn more

    February 2018

    Q4 2017: Residential Buildings Report

    There were 1,974,349 residential dwellings across the country as of December 2017.

    In the 12 months to October 2017, a total of 50,597 residential properties were purchased, with new dwellings accounting for 18% of this total.

    The national average house price during this period was €262,061. When Dublin is excluded, the national average falls to €187,623.

    The average house price in the Capital itself was €406,971, which is 1.55 times higher than the State average. Other counties to record notably high property prices included Wicklow (€333,355), Kildare (€262,543) and Meath (€252,679).

    In total, 7,457 buildings were classified as being under construction in the GeoDirectory database in December 2017.

    Learn more

    August 2017

    Q2 2017: Commercial Vacancy Rates Report

    Commercial vacancy rates in Ireland increased from 13.1% in Q2 2016 to 13.5% in Q2 2017, with 28,784 of Ireland’s 212,717 commercial address points vacant.

    Sligo had the highest vacancy rate of any county, at 18%, followed by Leitrim at 16.2%, Limerick at 15.9%, Galway at 15.6% and Mayo at 15.5%. Kerry, which has consistently had a low vacancy rate over the past number of years, again had the lowest rate at 10.6%. However, this has increased from 9.4% compared to the same time last year.

    The largest increase in commercial vacancy rates was seen in Longford, with an increase from 12.9% in Q2 2016 to 14.9% in Q2 2017. Only two counties recorded decreases in the same period – Dublin (-0.2 pp) and Leitrim (-0.1 pp).

    Learn more

    July 2017

    Q2 2017: Residential Buildings Report

    Key highlights:

    • There are 1,967,698 residential dwellings across the country in June 2017
    • The national average housing turnover rate was 2.22%. When Dublin is excluded the turnover rate falls to 2.05%
    • The report estimates that the turnover of residential stock was 43,767 transactions in the year to May 2017
    • The national average house price for the year was €250,188. This drops to €175,782 when Dublin is excluded
    • A total of 5,966 residential dwellings were classified as being under construction in the GeoDirectory Database in June 2017

    Learn more

    February 2017

    Q4 2016: Commercial Vacancy Rates Report

    Commercial vacancy rates in Ireland have increased from 12.6% in Q4 2015 to 13.5% in Q4 2016. In total there was 213,666 commercial address points in Ireland, 28,796 vacant.

    Counties on the west coast of Ireland tended to perform less well than their eastern counterparts, with Sligo (18%), Leitrim (16.4%), Donegal, Mayo (15.6% each), Galway (15.4%) and Limerick (15.3%) having the country’s six highest vacancy rates.

    This divide was also evident at provincial level, as Connacht, at 15.7%, had the highest vacancy rate of any province, while Leinster (excluding Dublin), had the lowest (12.5%). Munster also recorded a rate below the national average at 12.9%, whereas Ulster and Dublin registered overall vacancy rates of 14% and 13.7% respectively. Only 5 Dublin districts had rates less than 10%.

    Learn more

    January 2017

    Q4 2016: Residential Buildings Report

    Key highlights:

    • There were 2,020,523 residential dwellings across the country as of December 2016
    • In the 12 months to December 2016, 13,842 dwellings were added to the GeoDirectory Database
    • A total of 34,416 residential transactions were recorded between January and October 2016, contributing to an annual national turnover rate of 2.1%
    • The national average house price during this period was €239,025, falling to €167,615 when Dublin is excluded
    • Dublin had the highest average transaction price (€393,833) in the State, followed by Wicklow (€320,000) and Kildare (€242,921)
    • A total of 4,910 residential dwellings were classified as being under construction in the GeoDirectory Database in December 2016

    Learn more

    August 2016

    Q2 2016: Residential Vacancy Rates Report

    Key highlights:

    • There are 2,015,260 residential dwellings across the country for Q2’16
    • Merging data on residential property transactions from the Property Price Register (PPR), the CSO’s 2016 Census of Population and the GeoDirectory Database, this report estimates that there were 42,960 transactions in the year to June 2016
    • Dublin had the highest average transaction price (€380,237). Wicklow had the second highest (€315,564), and Kildare (€255,967) the third
    • The National average house price for the year was €232,862, falling to €168,078 when Dublin is excluded
    • The national average housing turnover rate in this period was 2.1%, falling to 1.5%.when Dublin is excluded
    • A total of 4,375 residential dwellings were classified as being under construction in the GeoDirectory Database in June 2016

    Learn more

    July 2016

    Q2 2016: Commercial Vacancy Rates Report

    Commercial vacancy rates in Ireland have increased from 12.6% in Q2 2015 to 13.1% in Q2 2016, with 28,615 of Ireland’s 219,176 commercial address points vacant.

    Sligo had the highest vacancy rate of any county at 16.8%, followed by Leitrim at 16.3%, and Galway and Limerick, both at 15.3%. Kerry, which has consistently had a low vacancy rate over the past number of years, again had the lowest vacancy rate at 9.4%, the only county with a rate in single digits. The largest increase in commercial vacancy was seen in County Offaly, with vacancy increasing from 12.7% in Q2 2015 to 14.7% in Q2 2016. Longford saw the largest move in the other direction, with vacancy decreasing from 13.2% to 12.9%.

    Learn more

    February 2016

    Q4 2015: Residential Vacancy Rates Report

    Key highlights:

    • There were 2,009,896 residential dwellings across the country in Q4 2015
    • Combining data on residential property transactions from the Property Price Register (PPR), the CSO Census of Population and the GeoDirectory Database, the report estimates that 43,428 residential transactions occurred in 2015, contributing to a national turnover rate of 2.2%
    • Dublin had the highest average transaction price (€356,194) in the country for 2015, followed by Wicklow (€296,045) and Kildare (€244,543)
    • A total of 3,957 residential buildings were classified as being under construction in the GeoDirectory Database in Q4 2015

    Learn more

    January 2016

    Q4 2015: Commercial Vacancy Rates Report

    Commercial vacancy rates in Ireland have decreased, from 12.8% in Q4 2014 to 12.6% in Q4 2015. The total number of occupied commercial premises in Ireland increased throughout 2015 from 194,642 in Q4 2014 to 195,803 in Q4 2015.

    Commercial vacancy rates declined in 16 counties over the year – 10 in Leinster. However a number of Connaught and Ulster counties have yet to recover and are still showing increases. The average commercial vacancy rate in Ulster increased from 12.5% in Q4 2014 to 12.7% in Q4 2015, while in Connaught it went from 14.7% to 14.8%. Both Munster (11.9%) and Leinster (12.4%) saw a 0.2% decrease between Q4 2014 and Q4 2015. Leinster’s commercial vacancy rate was unchanged from Q2 2015, with just 2 counties, Wexford (10.1%) and Wicklow (12.5%), recording increases over the year from Q4 2015.

    Learn more

  • PII Property
    Watch

    A quarterly report from Property Industry Ireland (PII), Property Watch brings together over 30 datasets on the Irish commercial and residential property markets from 20 public and commercial sources. It is a comprehensive source of information which helps investors, purchasers and developers involved in the construction industry make better strategic decisions.

    September 2016

    PII Property Watch Q2 2016

    Property Industry Ireland, in partnership with DKM Economic Consultants and AIB, launched this issue on September 6th 2016.

    Learn more

    June 2016

    PII Property Watch Q1 2016

    Key highlights:

    Q1 2016 saw over 2,000 housing commencements, of which 38% were one-offs. The total level of house building is forecast at 11,000 units in 2016.

    The average office take-up in Q4 2015 was 53,700m2, up 18% on Q4 2015. There is a substantial quantity of new office supply under construction and awaiting planning, with up to 35 schemes under construction in Dublin city centre. The lack of Grade A office accommodation is a common thread across other urban markets and is putting office rents under pressure, most notably in Cork, where they were up by 8%.

    There has been a sharp decline in the availability of industrial space in Dublin over recent quarters, which explained the 41% quarterly decline in average take-up to 59,000m2 in Q1 2016. In the region of €740 million of commercial investment transactions were recorded in Q1, just two-thirds of Q1 2015’s level. Dublin ranked 15 out of the top twenty most attractive real estate investment destinations in relation to their economic size in the JLL March Investment Intensity Index.

    Learn more

    March 2016

    PII Property Watch Q4 2015

    Key highights:

    • Housing commencements reached just over 8,000 in 2015, but residential market activity remains depressed
    • Highest level of take-up in Dublin office market since 2007
    • Mixed signs of recovery in regional urban markets
    • Dublin industrial take-up in 2015 reaches its highest level since 2006
    • Another record year as property investment totals approximately €3.5 billion

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