Connect with us

News

Sam Maguire to feature at next week’s AugustFest

Published

on

0235802_Killarney_Races_Autumn2414592_VAL_C.jpg

K

Killarney Racecourse is set to host the exciting three-day summer horse-racing festival from Thursday August 18 to Saturday 20 inclusive. The festival also marks 200 years of racing at Killarney Races offering patrons great racing, history, socialising, entertainment and so much more at Ireland’s most scenic racecourse.

With lots of ticket levels and packages including food and beverage options to choose from, whether it is close to the action general admission tickets or silver service fine dining, there is something for everyone at Killarney Races. Live music, fashion, and fun for all the family complement the best of summer racing at the track this August.

Thursday and Friday are evening meetings and Saturday is an afternoon event with all race cards offering seven thrilling races for spectators to enjoy each day.

Thursday is Sam Maguire evening. And to mark Kerry’s recent success and Killarney Races bi-centenary celebration, Killarney Races are offering an amazing deal on the opening day of their three-day event. On Thursday August 18 patrons will enjoy admission, a racecard and a €5 free bet all for €20! The first race is approximately 5pm with gates open from 3pm. Come early, bring along your jersey and camera, it’s going to be a great evening.

Friday will see the new entrance officially open, as racing officials and elected representatives unlock the gate to the next 200 years at the popular Killarney track, first race at approximately 5pm with gates open from 3pm. With music on the lawn from Donal Lucey and from Tom Cats in the Jim Culloty bar after racing the après racing party is sure to be a ‘winner alright’!

Saturday is AYU Ladies Day and all about the glamour as fashionistas bring the curtain down on AugustFest in fine style. AYU is an Irish based and Irish owned cosmetics company set up by renowned make-up artist Suzie O’Neill. With over €1,500 in prizes for the most stylish ladies to dress up for, what’s not to love! Gates open from 12 noon with the first off at approximately 2pm.

“At AugustFest we will be celebrating a major milestone here at Killarney Races, 200 years of racing in Killarney which is amazing," Killarney Racecourse Chairman, Gerard Coughlan said.

"I would like to take this opportunity to encourage all locals and visitors to Killarney to come along and be part of the 200 year celebrations and share in this historic moment with us as we officially open the gates on the next 200 years! It’s a rare opportunity to be able to say ‘I was there the day they celebrated the bi-centenary’ anywhere and what a great story to share with the grandchildren in years to come. On that note, we are looking forward to welcoming multiple generations of families during AugustFest, so make a plan and come along and join us for what will be a most remarkable festival at our beautiful boutique racecourse this August!”

The feature race on the opening day of AugustFest is the Vincent O’Brien Ruby Stakes (listed), the Kingdom Gold Cup Handicap of €50,000 and the Gain Advantage Race Series. On Friday, the day two feature is the Grade B Handicap Hurdle of €50,000 and the EBF Novice Hurdle, with four competitive chase races. The final day of the festival the feature is the Grade B Handicap Chase of €50,000.

Adult tickets are available from €20 and children under 14 go free ensuring a great day out for all the family. For those who love a deal, the "Punter’s Pack" is a great value-added option and if you want to live it up check out the Maurice O’Donoghue Suite and Panoramic Restaurant options.

For all ticket details and festival programme information visit killarneyraces.com.

Continue Reading
Advertisement

News

Housing Will Never Be The Same

Last week I wrote about the pathetic investment options out there for Irish investors. Despite high ongoing fees (mortgage, maintenance, insurance etc.) and the actual headache of being a landlord, […]

Published

on

0249805_0244120MikeStockscopy_OK.jpg

Last week I wrote about the pathetic investment options out there for Irish investors.

Despite high ongoing fees (mortgage, maintenance, insurance etc.) and the actual headache of being a landlord, it’s easy to see why real estate functioned as the de facto investment portfolio for an entire generation.

Wealth creation was a rinse-and-repeat function where couples put money away until they had enough for the ‘next house’. As a result, we have an economy where 70% of household wealth is tied up in real estate.

Driven by the profits it created, Ireland became obsessed with owning real estate.

But real estate as an investment won’t be nearly as successful for our generation. (If you are able to get a house, that is)

All you have to do is look at the anecdotal evidence all around us to confirm this.

My parents bought the house they currently live in for 30k (pounds) 35 years ago. The house is now worth roughly 450k.

I typically despise these back-of-the-envelope calculations when It comes to property, given the endless variables and ongoing costs involved, but bear with me.

That’s a gross return of 15 times the original value. Now there are upgrades, a change in currency and other adjustments to consider here, so for argument’s sake, let’s call it 10X.

To achieve the same level of growth over the next 35 years, you would be left paying 4,500,000 euros for what is a pretty modest house.

Sure, we will still see property prices increase over time, but the rate of growth won’t be anywhere near as meaningful for one simple reason.

Interest rates.

Artificial Growth

Over the last 30 years, real economic growth has been stagnant, yet Ireland has experienced enviable nominal growth.

How did we manage it?

We created imaginary wealth.

We pushed interest rates lower and lower to stimulate economic growth.

And it worked.

After all, if you make 100k/year you can probably afford a 400k mortgage at 4%. At 2%, with the same 100k/year salary you can now take on 600k in debt.

So, were we getting richer, or was the debt just easier to afford?

Where do we go from here?

We have now squeezed interest rates as low as they can go.

The house price appreciation we have seen was justifiable because the mortgage rates on housing continued to fall in recent decades. This allowed people to take on more debt without severely impacting their ability to repay that debt.

If we go back to my parents, they were paying 14% on their mortgage. Mortgage rates are currently between 2 to 3%.

A relentless drop in interest rates gave way to higher and higher prices for houses, but interest rates are now on the floor.

The juice has been squeezed.

In fact, the trend has started to reverse, with rates expected to rise 1.5% in the first half of 2023

Be mindful that the same credit expansion cannot happen again.

How the next generation thinks about their investment options has to change.

Banks offering 0% returns for the use of your money and a housing ladder you can’t get on are not your only two options.

If you need help creating your own investment portfolio, just reach out to me at mike@theislandinvestor or simply scan the QR code above.

Attachments

Continue Reading

News

Biddies performance celebrates St Brigid

Two local Biddies groups performed at Muckross House as part of St Brigid’s Day celebrations in aid of Kerry Parents and Friends Association. The Killarney Parents and Friends Biddy Group – formerly […]

Published

on

0250189_Beaufort_Biddies_Muckross2.jpg

Two local Biddies groups performed at Muckross House as part of St Brigid’s Day celebrations in aid of Kerry Parents and Friends Association.

The Killarney Parents and Friends Biddy Group – formerly known as the Beaufort Biddy Group – and Kilgobnet Biddies came together for the event.

The tradition of the Biddies is one of the oldest and most colourful customs in Ireland, a blend of pagan and Christian pageantry, held on February 1 each year, heralding the beginning of springtime and honouring St Bríd the patron saint of the farming community.

Master traditional craftsman, Pat Broderick, at Muckross House, was also part of St Brigid’s Day celebrations, making a St Brigid’s Cross as part of the traditions.

 

Continue Reading

LOCAL ADS

Last News

Advertisement

Sport

Trending