Economists predict fall-off in increases

The country’s leading economists are forecasting a dramatic fall-of f in house price increases next year.

21st October, 2006

One economist is predicting that prices for upmarket secondhand homes could fall by 5 to 10 per cent this winter.

AIB chief economist John Beggs said property prices would rise by 12 per cent in 2006,but house price increases will fall to less than 5 per cent in 2007. ‘‘In the new market, prices will increase by 5 to 7 per cent next year, but in the secondhand market, prices will only rise by zero to 5...

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