Amid the lockdown uncertainty, the Irish Times ran a series of helpful articles and opinion pieces this week, including one entitled: Coronavirus: What does lockdown mean for property buyers and sellers? You can read the full article here: https://www.irishtimes.com/life-and-style/homes-and-property/coronavirus-what-does-lockdown-mean-for-property-buyers-and-sellers-1.4211080

Industry insider commentary appears to be that property sales already in train will continue to transact as normal. Buyers who have sale-agreed their new properties but have yet to exchange contracts, will likely face delayed closings. DNG, the second largest estate agency franchise in the country reported no increase in the number of transactions falling through, while other agencies report that would-be buyers have indicated their intention to proceed with transactions. Significantly, most Irish estate agents reported a rise in traffic to their websites (not property portals).

The Irish Times reports that “virtual viewing activity was up as potential buyers could no longer visit properties”, however, it does not compare those figures with traditional viewing statistics so it is unclear whether house-hunting activity has increased, decreased or stayed in line with normal activity levels for this time of the year.

The Law Society has stated that it is business as usual for the completion of contracts, and the contract provisions relating to default will apply, “unless the non-defaulting party takes a ‘good faith’ approach”.

Also, the Financial Times gives a more international perspective in their news item: Covid-19: what it means for your property deal. Again, you can read the full article here: https://www.ft.com/content/a8bba3ae-6a07-11ea-a6ac-9122541af204

Planning System Remains Open for Business

Housing Minister Eoghan Murphy has confirmed that every effort is being made to ensure Ireland’s planning system can continue to operate. Notwithstanding emergency measures introduced this week, local authority public offices and the Offices of An Bord Pleanála will remain open, in full compliance with new protocols on social distancing.

Further details available here: https://www.housing.gov.ie/planning/covid-19-coronavirus/planning-system-remains-open-business

Certainly, An Bord Pleanála showed no signs of slowing with a number of positive fast-track planning decisions being published this week, including: 192 apartments at Castleknock, Dublin 15 (Glenveagh Homes); 142 houses and apartments at Seamount Road and Seamount Abbey in Malahide, north Dublin (Ballymore); 485 new residential units on the old CIE site at Carnlough Road in Cabra, Dublin 7; and 329-unit development on former Santry Demesne grounds off Northwood Avenue (Cosgrave Developments).