Property prices see slowest growth in six years – CSO

Dublin residential property prices fell for the third month in a row in the year to September, the latest Central Statistics Office figures show today.

Dublin residential property prices decreased by 1.3% in the year to September, with house prices falling by 1.5% and apartments slowing by 0.2%. 

The CSO noted that the highest house price growth in Dublin was in Fingal at 1.5%, while Dun Laoghaire-Rathdown saw a decline …

Euro zone economy continues steady growth in third quarter

The euro zone economy continued to grow at a modest pace in the third quarter as expected, data from the EU statistics office showed today, as Germany narrowly escaped a technical recession and other big economies expanded. 

Eurostat said gross domestic product in the 19 countries sharing the euro increased 0.2% quarter-on-quarter in the third quarter for a 1.2% year-on-year gain. 

The quarterly expansion was in line with a Eurostat …

Revenue says no surcharge on returns filed this week

Revenue has said that its online system ROS is back up and running after being offline for some time today.

Revenue had earlier said in a statement that it was aware of further difficulties with the ROS system after it also experienced issues yesterday.

“Revenue acknowledges the difficulties and frustration being experienced by taxpayers and agents who are continuing to try and file returns today and apologises for the inconvenience,” it added.

Macroeconomic Scoreboard shows just four breaches of EU thresholds – CSO

Ireland has breached EU limits on four key tests of economic stability, new figures from the Central Statistics Office show. 

The Macroeconomic Scorecard, compiled by the CSO, is part of a system introduced by the European Commission during the financial crisis to flag imbalances in member state economies. 

The number of breaches is down from the high of 10 breaches in 2010 and 2011 and the CSO said it is …

German economy dodges recession with 0.1% expansion in Q3

The German economy escaped a recession in the third quarter as strong consumer spending helped output grow 0.1% quarter-on-quarter, defying expectations of a contraction, preliminary data showed today. 

Gross domestic product in Europe’s largest economy expanded by 0.5% from July to September after a 0.3% expansion from April to June.

This is according to seasonally adjusted figures from the Federal Statistics Office.

Private household spending was higher than in the second …

September housing commencements up 28% on last year

The number of new homes which have commenced construction in September was 28% higher than in the same period last year. Figures published by the Department of Housing show that 26,106 Commencement Notices were recorded in September.

The figure for the three Dublin local authorities was 8,714 (up 23%), while the Mid-East Region comprising counties Meath, Wicklow, Kildare and Louth was 6,594 (up 23%).

The number of Commencement Notices in the …

Rent inflation slows to lowest level in six years

The rate of rental inflation dropped to its lowest level in six years in the third quarter of this year, the latest  report from property website shows.  

Daft said that the average rent across the country rose by 5.2% – the smallest increase since the second quarter of 2013. 

However the average monthly rent in the country in the third quarter of this year hit €1,403 – the …

AA research shows big jump in the cost of running a home

The annual cost of owning and maintaining a family home has risen by over €1,000 a year, with the average homeowner now spending over €17,000 on their home. 

This is according to the latest “Cost of Running a Home” analysis from AA Home Insurance.

Research from the insurance intermediary has found that the cost of running a home in Ireland this year came to €17,393.25, up from last year’s figure of …

Construction activity declines at fastest pace since 2013

Activity in the construction sector fell at the sharpest rate since June 2013, according to the latest Ulster Bank Purchasing Managers Index.

Activity in the construction sector fell at the sharpest rate since June 2013, according to the latest Ulster Bank Purchasing Managers Index.

The index, which tracks changes in total construction activity, fell to 46.2 in October from 48.3 in September. A figure under 50 signals contraction in the …

Reduced oil demand pulled energy costs down in October

Energy costs here fell by 4% in October, driven by weaker oil prices the latest Bord Gáis Energy Index has found.

Oil fell by 3% over the period because of lower demand caused by the weakening global economy and despite the attack on Saudi oil infrastructure in the middle of September.

Because oil makes up the largest part of the index, this had the effect of dragging the overall measurement …