House asking prices rise 9%, budget hikes on cars, and Quinn transfers hotel shares

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

House asking prices have risen by 9 per cent in the past year, according to two separate reports. Photograph: Aidan Crawley/Bloomberg

House asking prices have risen by 9 per cent in the past year, according to two separate reports. Photograph: Aidan Crawley/Bloomberg

 

Asking prices for Irish houses are currently running 9 per cent higher than a year ago, according to separate reports from property websites MyHome.ie and Daft, both of which highlight that prices outside of Dublin are accelerating faster than in the capital. Joe Brennan goes through the numbers.

New car prices will rise by an average of €1,500, with some of the more popular family models receiving a price hike of up to €2,800, if changes proposed by Tax Strategy Group are adopted in Budget 2022, an industry group has warned. Our motoring editor Michael McAleer has the details.

Businessman Lochlann Quinn has transferred his shares in the five-star Merrion Hotel in Dublin to his children, latest accounts reveal. The hotel slipped into the red last year due to the impact of Covid-19 lockdown restrictions. Gordon Deegan reports.

In breaking news, Bank of Ireland has announced that Myles O’Grady is to step down as chief financial offier to take up a role in an organisation outside the financial services sector.

Bord na Móna has announced plans to develop the first Irish dedicated renewable-energy business park as it continues its transformation into a climate solutions group. It will be developed on more than 7,400 acres of its landbank in counties Meath, Offaly and Westmeath, writes Joe Brennan.

In her weekly column, Pilita Clark says there are leadership lessons to be learned from Ted Lasso, the central character in the award-winning Apple TV comedy.

In our Opinion piece, financial adviser Vincent Digby says incentivising whistleblowing in the financial services industry could be a game changer in avoiding more scandals, if the experience in the United States is anything to go by.

In Q&A, a reader wonders how the State pension takes account of time spent working elsewhere in the EU. Dominic Coyle offers some guidance.

Techstars is coming to Dublin. The organisation that runs accelerators and provides funding and mentoring to start-ups across the world, is to run a new blockchain-focused programme in the city. Charlie Taylor has the details.

Business confidence slipped in the Republic in September as companies grappled with rising raw material and other costs, according to a survey by Bank of Ireland, amid widespread inflation globally as economies continue to emerge from the Covid-19 pandemic. Joe Brennan reports.

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