Property implications of higher than expected population growth in Dublin

The population of the four local authority areas in Dublin is now estimated to grow by 32,000 people during 2015, nearly three times more than previously estimated by the CSO.

According to Reel Estate agents Savills, this rate of net population growth – about 2.5% per year, is likely to continue as long as the current period of strong economic growth is maintained.

Dividing 32,000 people by the current average houseyhold size of 2.5 people implies a need for 13,000 additional housing units in the city area to cater for this growing population alone

That’s double the current required estimate of 6,000 units per year and four times the number we’re currently building in the city area.

Tullow Oil shares rebound following positive lender review

Tullow’s shares closed almost 10% higher last night at £185.50 in London after the company’s banks left its $3.7 loan facility and covenants unchanged following an update of the Irish company’s oil reserves.

There had been concerns that the combination of Tullow’s high borrowings to fund oil exploration and drilling infrastructure in West Africa, and the sharp fall in oil prices, might have pushed the company’s lenders to impose more penal debt servicing arrangements.

This could have forced the company to sell assets or have left it more vulnerable to a take-over by a bigger oil player.

Shares in Tullow have fallen three-fold in value from a level of over £6 this time last year and plummeted by more than 50% in the third quarter alone, the steepest quarterly loss on record. 

Now the VW investigators get it wrong

German prosecutors, investigating the unfolding Volkswagen diesel emissions scandal, have reversed a statement they made earlier in the week and now say they have not launched a formal inquiry against the car manufacturer’s recently-resigned chief executive, Martin Winterkorn

A spokesman told the German media last night that the statement issued on Monday to the effect that Mr Winterkorn was being investigated, “was formulated incorrectly.”

Meanwhile Volkswagen is beginning to feel the first effects of the controversy.

The company has already dropped a shift at its giant diesel engine manufacturing plant at Salzgitter in North Western Germany while staff on temporary contracts are being let go at the group’s giant internal bank.

Latest motor figures from the US for September show sales of Ford, General Motor and Fiat/Chrysler each ahead by 10% - Volkswagen sales rose by 0.6% during the month.

Questions over energy-consumption cheating software in TVs

The giant Korean consumer electronics company Samsung strenuously denies reports that it’s been using software in its television sets that can be used to deceive EU energy consumption compliance tests.

According to a report in the Guardian newspaper, the EU-funded independent research company, Complian TV, indicates that a feature called “motion lighting” dimmed the brightness on Samsung TVs raised questions about whether the TVs sets were set to detect test procedures and to adapt their power consumption accordingly

Samsung says motion lighting is a feature that can be used at any time by consumers to reduce energy consumption as they’re watching TV.

Complian’s research results are still unpublished but the Swedish Energy Agency has also written to the European Commission about the possibility that some manufacturer’s TV sets had built-in software to detect testing situations.