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Where will our next generation live?

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By Ted Healy of DNG TED HEALY

With planning permissions being overturned by An Bord Pleanála in the local news this week, it is interesting to note that it is estimated in excess of 50,000 housing units could be completed in the country in the two years to the end of 2023, according to the Banking and Payments Federation Ireland (BPFI).

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In its latest Housing Market Monitor, the BPFI said that it could help meet the demand for housing which is being driven by employment growth and rising incomes.

Estimates from various bodies say the industry needs to be completing between around 30,000 and 35,000 housing units per year to keep pace with demand and projected population increases.

Others argue that the figure is likely much higher when demand for rental accommodation and the trend towards smaller household composition is taken into account.

The Central Bank forecast earlier this year that 24,500 units would be completed this year - 29,000 in 2023 and 33,000 in 2024.

According to Brian Hayes, CEO of the BPFI, "The Irish banking sector has the capacity to provide further sustainable mortgage lending. Taking all factors into account however is it critical that housing supply needs to continue to increase in order to moderate house price increases and enhance affordability in the market.”

Residential property prices increased by just over 14% in the year to June, according to the Central Statistics Office (CSO), as the supply of properties continued to lag demand.

“The fundamental driver of the significant increase in average residential property prices in Ireland in recent years has been the lack of supply of new homes as opposed to lending growth, which was observed in mid-2000s," Ali Uğur, Chief Economist, Banking & Payments Federation Ireland, said.

He referenced Central Bank figures which showed that as of the end of 2021, over 45% of mortgage lending had been issued under lending rules introduced by the regulator in 2015 which restricted lending based on income and the value of the property.

So with national house building numbers on the rise, what about locally?

The recent An Bord Pleanála decision to refuse planning permission for the construction of a 228 unit development on Port Road has received a mixed reaction. A separate planning permission for a development of 30 units in Ballycasheen, Killarney, was overturned by the Bord earlier this year.

With little new home development on the horizon for Killarney being the net result, where are our next generation to live?

A shortage of available properties for sale, both new build and second hand, in the Killarney market has led to spiralling house prices. Now with no major increased supply expected in the short to medium term, prices can be expected to remain strong, despite forecasted interest rate increases.

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Coolick National School to launch online lotto

A popular primary school in the Killarney area is launching a new fundraising initiative this week to support and improve the education experience of the children it serves. The Coolick […]

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A popular primary school in the Killarney area is launching a new fundraising initiative this week to support and improve the education experience of the children it serves.

The Coolick National School Lotto is now live; offering a weekly prize, a weekly jackpot and a range of valuable spot prizes at launch.

Coolick NS first opened its doors in 1870 making it one of the county’s oldest primary schools. The school and pre-school is home to over 130 children from the locality. This is an increase of 20% over the past 5 years taking enrolment to an all-time high.

Coolick NS School Lotto Chairperson and parent, Pádraig Leane says properly resourcing primary school services is crucial:

“The cost of providing education is rising and the school grants provided by the department, although valuable, only do so much. We want to overcome this challenge with our school lotto. The school has a range of immediate needs but also longer-term goals to expand our facilities, add more sports equipment, wellness programmes, student support programmes and increase extra-curricular trips,” he said.

First on the list is a new set of school jerseys, gymnastics mats, replacement of end-of-lfe iPads and further expansion of their Tír na nÓg play area for the younger pupils.
Coolick National School Principal Gearoid O’Sullivan remains focused on providing the best for the children of Coolick.

“As a school we are committed to providing the best equipment, teaching and learning resources, outdoor spaces and a school interior that helps nurture each child. This school lotto will help us with our commitment to provide the very best for the school and especially for the pupils in our care,” said the principal.

The staff and students of Coolick National School are appealing to families, friends, past pupils, members of the local community, stakeholders and supporters to get behind the weekly school lotto. It is hoped that the option of 1 line for €2.50, 2 lines for €4 or 3 lines for €5 will encourage everybody to contribute. A lotto draw will take place each week with a maximum jackpot of €2,000 to be won.

Signing up is easy; through the school’s website https://www.ourfundraiser.ie/org/coolickns

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Live TV audience date with Daniel O’Donnell at INEC

People of Killarney will have the opportunity to participate in a live television audience with Daniel O’Donnell. TG4 television’s highest rating country music series of concerts is coming to the […]

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People of Killarney will have the opportunity to participate in a live television audience with Daniel O’Donnell.

TG4 television’s highest rating country music series of concerts is coming to the Gleneagle INEC Arena for the first time from June 17 to 19.

Recorded before a live audience over three nights with two concerts per night, Opry le Daniel offers a different music theme each evening and a host of special guests will join the legendary presenter Daniel O’ Donnell on stage to perform all your favourite songs.

The recordings of the show will be split into two one-hour blocks, taking place throughout each evening.

Now in its 14th year, Ireland’s favourite country music artist O’ Donnell will be joined on stage by Declan Nerney, Cliona Hagan, Mike Denver, Chrissy Mac, Dana and the Donegal balladeers ‘Onóir’ to mention but a few.

Tickets from €30.20 are available from www.inec.ie and the Gleneagle INEC Arena box office on 064 6671555.

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