🦜 PerchPulse - Ireland Market Update November 2022 🦜

A warm welcome to the November issue of PerchPeek’s Ireland Market Monthly update!

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Here’s where you’ll find the hottest stories around employee relocation and global mobility, insights from our experts on housing and cost-of-living news affecting your staff, the latest trends in international talent strategy, and tips and tricks on ways to support your teams.

A fly-by summary

• A full update on how employee home-finding will slow down in the festive season
• A report finds the lowest number of rental properties available in seven years, but we’re seeing reason for prospective renters to be optimistic
• How to make sure your employees are aware of upcoming energy bill discounts
• Irish workers love working with their foreign colleagues, according to an Indeed survey
• Making your staff aware of free festive fun during the cost of living challenges

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Home-finding: Rental searches to slow down during festive season

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Halloween has been and gone, the nights are drawing in and the shops are full of winter woollies…the festive season is upon us! As well as all the fun stuff, it can be a tricky time for house-hunters, with agencies closing for the holidays and the process generally slowing down.

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If you’re supporting employees coming to Ireland, you can help manage their rental market expectations at this time of year with this key advice from the PerchPeek Ireland team:

• In December, rental stock levels and the pace of the property-finding process tend to slow down, as landlords aren’t keen to have tenants moving in over the festive season.

• Most estate agents will have 19th December as their last possible move-in date before the holiday season, and will restart on 2nd January 2023.

• At this point (mid-November), any movers who haven’t secured a place to live will now be looking at a January move-in date.

• Everything will be closed on 25th - 27th December and 1st January. Other than that, it’s normal working days, but expect agencies to close early on 24th and 31st December.

• Some agencies will be open between Christmas and New Year and some new listings will go up, but usually it’s not possible to attend viewings during this time.

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Home-finding: Report finds lowest availability of rental properties in seven years

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Housing charity Simon Community’s recent Locked out of the Market report shows the lowest number of available rental properties nationwide since data started being collected seven years ago.

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They found just under 400 properties listed as available to rent over a three-day period, in 16 areas across the country. This is down a whopping 62% from the same period in 2021.

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Yet, we’re seeing light at the end of the tunnel! PerchPeek’s Customer Success Manager for Ireland reports an average of 390 Dublin rental properties available on Daft.ie this month, up from 250 in August. According to industry contacts, this might be due to the selling market softening, with more people renting out their properties as opposed to selling.

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This could be welcome news for a rental market that’s been one of the world’s toughest in the past year, with demand for properties severely outstripping supply, and long queues at viewings.

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To support employees looking for a home, it’s best to keep aware of these challenges and make allowances, like reviewing relocation packages to make sure movers have the financial freedom to stay in temporary accommodation for as long as they need. Plus, offering flexibility to attend viewings during work hours is super helpful - being first in the queue makes a big difference!

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Cost of living: All households to receive €200 energy bill discount this month

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As we enter the cold winter months and consumers are grappling with rising utility costs, the first round of the government’s energy bill support measures have come into effect.

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All households will receive a €200 discount on utility bills in November, plus another €200 in January and a final €200 in March. Consumers don’t need to do anything; most energy suppliers will deduct the amount automatically from their monthly bill. 

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All employees, particularly newcomers to the country, are likely to appreciate being made aware of the winter energy bill contribution. They shouldn’t have to take any action, but should flag it with their supplier if they don’t see a reduction in bills or receive a payment. 

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Plus, newcomers setting up utilities will need to know that their bills until April 2023 will be significantly reduced, and from then they’ll increase to the new ‘normal’ amount.

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As there’s continued uncertainty around the future of utility costs, our advice is to review compensation and relocation support packages regularly to make sure they stay in line with the current cost of living. Any easing of financial worries is something that’ll make a massive difference to your employees!

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Talent strategy: Irish workers think foreign colleagues are top-notch

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A cheery nugget of news that’s bound to lift some of the inevitable gloom descending amidst the current housing and cost of living crises: the news from jobs site Indeed that Ireland has the most positive attitude towards the contributions of foreign workers to the economy.

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The research, published in October, looked at eight European countries and found that 86% of Irish respondents had very favourable opinions of working with foreign colleagues, showing they hold their skills and contributions to the economy in high regard. Next was the UK at 77%, followed by Switzerland at 75%.

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Indeed’s report also found that in Ireland, 84% of businesses think attracting highly skilled workers from abroad is important for the economy. So, it makes a big difference when companies have comprehensive relocation policies in place - it’s a competitive perk that makes attracting this skilled talent much more feasible.

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When supporting employees moving to Ireland, and Dublin in particular, it’ll be helpful to be armed with this knowledge around attitudes to immigrant workers. This new data supports the notion that Dublin and its residents welcome newcomers with open arms. This should help apprehensive movers feel way more confident about relocating to the capital!

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Support your talent: Festive feels - what’s on in Dublin at Christmas

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With the ongoing cost of living crisis, it might feel difficult to muster up some festive cheer right now, especially for new arrivals settling in. However, one way to offer support to your employees is by making them aware of cheap or even free ways to enjoy the sights of the city!

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In November, Dublin residents will start seeing the streets being festooned with twinkling lights, with festive events popping up all over the city. Checking these out can be a great way to boost morale and get to know the local community!

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Here are our favourite ways to get into the holiday spirit:

• Visit Dublin Castle’s ‘Christmas at the Castle’ event, with a boutique open-air Christmas market featuring over 30 traditional alpine market stalls and a vintage carousel

• See the colourful light installations on Grafton Street, Henry Street, at Temple Bar, Stephen’s Green Shopping Centre and at Custom House 

• Enjoy Carols by Candlelight choir concerts at iconic venues such as the National Concert Hall and Christ Church Cathedral

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We hope you enjoyed this month’s update - if you ever have any feedback, comments or questions about what's going on in your location, feel free to reach out!

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Thanks for reading, and see you next month!

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Questions About Moving Employees or What We Do At PerchPeek?

No matter where your business is located, or how many employees you have to move, the relocation experts at PerchPeek are standing by at all times to answer any and all questions that you may have about moving and taking care of your most important business asset, your team!