Falling house prices, Zara’s Irish profits, and Barclays Irish plans post Brexit

Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Zara’s store on New South King Street in Dublin. The retailer’s Irish stores reported strong trading last year, particularly online. Photograph: David Sleator
Zara’s store on New South King Street in Dublin. The retailer’s Irish stores reported strong trading last year, particularly online. Photograph: David Sleator

The price of luxury homes in Dublin has fallen for the first time since 2013, as uncertainty around Brexit combined with an easing of pent-up demand saw property valuations actually fall in the year to September 2018. Fiona Reddan reports.

They say retail is dead but latest accounts filed here by Zara owner Inditex show it trebled its profits last year across its Irish network of 23 stores. Mark Paul has all the details.

British bank Barclays will ask the UK's high court in the coming months to allow it transfer business worth about €250 billion to the Republic as the lender steps up its Brexit preparations, according to Barry O'Halloran.

Developer Philip Gannon yesterday cancelled a €20 million plan to transform the old ferry terminal in Dún Laoghaire into a technology campus, saying the scheme would not be rekindled, even if licensing problems cited as an obstacle to it are overcome. Mark Paul reports.

In her weekly column, Fiona Reddan warns borrowers who used a broker to get their mortgage and who are now considering switching to another lender to check the fine print first as there might be a nasty financial surprise awaiting them.

Stay up to date with all our business news: sign up to our business news alerts and our Business Today daily email news digest.

  • Join The Irish Times on WhatsApp and stay up to date

  • Sign up to the Business Today newsletter for the latest new and commentary in your inbox

  • Listen to Inside Business podcast for a look at business and economics from an Irish perspective