Bank predicts house-price growth of 3% next year

House-price growth will slow to 3 per cent by the end of next year, one tenth of the level recorded in 1998, according to Bank of Ireland.

16th December, 2006

House-price growth will slow to 3 per cent by the end of next year, one tenth of the level recorded in 1998, according to Bank of Ireland.

‘‘While both employment and incomes are expected to increase quite strongly again next year, affordability will nevertheless deteriorate because of a further increase in interest rates,” said Michael Crowley, an economist with Bank of Ireland.

‘‘House prices will have to see a number of years of limited...

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