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First time buyers driving mortgage market, Ires starts review and why The Traitors is perfect for January

The best news, analysis and comment from The Irish Times business desk

Host Claudia Winkleman and the contestants in series two of The Traitors. Photograph: Mark Mainz/Studio Lambert/BBC/PA Wire

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Peter Flanagan
Tue Jan 9 2024 - 06:31

First-time buyers availing of the Government’s two main help-to-buy schemes dominated the Irish mortgage market last year accounting for over 60 per cent of the transactions, a new report by the Banking and Payments Federation Ireland (BPFI) has indicated. Eoin Burke-Kennedy has the details.

The board of Ires Reit, the State’s largest private sector landlord, has said it will commence a strategic review in late February as it seeks to ward off an attempted boardroom coup by an activist investor pushing for a sale or break-up of the company. Joe Brennan and Ian Curran have the story.

In her column, Laura Slattery explains why BBC reality TV show The Traitors is exactly what the doctor ordered for January.

In Your Money, Dominic Coyle answers queries on how to change executors on a will, and can someone claim a widow’s pension alongside an old age one.

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Fiona Reddan explains why many people will see their take home pay increase this month as tax changes take effect.

Joe also reports that Dains, a private equity-backed UK accountancy group, has acquired McInerney Saunders Chartered Accountants in Dublin for an undisclosed sum, as it seeks to play a role in consolidation of the industry in the Republic.

Ian meanwhile reports that Ryanair does not expect the grounding of some Boeing 737 Max aircraft to have any impact on deliveries of craft it has ordered from the US plane-maker.

Cantillon looks breaks down the BPFI’s mortgage data and asks where Ires Reit goes from its strategic review, while also running the rule over a plan by businessman Paschal Taggart to build homes on public parks to alleviate the housing crisis.

Hoteliers Francis and John Brennan have agreed to hand control of their Lansdowne Kenmare hotel to local man Patrick Hanley, whose family owned and operated the hotel for almost three decades. Ian reports.

Net consumer lending in the 12 months to the end of November grew at its largest level in almost 15 years, increasing by €981 million, new data from the Central Statistics Office shows. Colin Gleeson reports.

San Leon Energy, the Africa-focused oil and gas explorer led by former stockbroker and telecoms entrepreneur Oisín Fanning, is in talks to secure a back-up investor as it experiences severe delays in securing initial funds from a US investment house that committed up to $187 million (€171 million) in October. Joe has the details.

The World Economic Forum holds its annual event in Davos later this month. Ahead of the event it has published its annual index of global co-operation. As Eoin reports, it doesn’t make for pretty reading.

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