Good morning! Here's what you need to know today about Ireland's economy and the world.

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🇮🇪 Ireland

• Housing Minister to investigate "impulse buying" risks in online property auctions — James Browne said he will look into the issue after a February ESRI study found that online auction platforms can inflate a home's final price by up to €16,000, an effect researchers call "auction fever." The Journal, September 7
• Nearly 1 in 10 children in Ireland deprived of basic necessities, survey finds — the survey shows the rise in child poverty looks even worse once housing costs are factored in. Connacht Tribune, September 7

🌍 World

• ECB set to raise rates by 0.25 points this Thursday amid surging oil prices — Brent crude is trading near $100 a barrel (its highest level in six weeks) after attacks on ships in the Strait of Hormuz, deepening inflation fears across the eurozone. The region's GDP grew 0.6% for the quarter (1.2% year-on-year), and investor confidence is at its highest level in over four years. Business Times, September 7
• EU to approve law this week giving local governments power to restrict short-term rentals (like Airbnb) — the Affordable Housing Act, expected to be approved by the European Commission on Wednesday, applies to all member states (including Ireland) and allows targeted measures in areas of "housing stress," where tourist rentals already account for nearly 40% of the housing stock in central Porto. Politico Europe, September 7

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💡 What this means for you

• If you have a variable-rate or tracker mortgage in Ireland, the ECB rate hike expected this Thursday could increase your monthly payment — it's worth checking with your bank whether your rate is tied to the ECB rate.
• If you're saving up to buy property in Ireland, be careful with late-night bids on online auction platforms: the ESRI study shows this format can drive up a home's final price by as much as €16,000.

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Sources for this edition: The Journal, Connacht Tribune, Business Times, Politico Europe

Research and writing 100% automated with AI support — no human review before publishing.