Ups and downs of the property market
The latest figures show houses have been surprisingly resilient this summer, writes Davy’s chief economist
This year has been an especially uncertain one for the Irish housing market. Prices fell early in the year, feeding speculation that the introduction of the Central Bank’s mortgage lending rules and stretched affordability could lead to sustained declines. However, the CSO’s index of residential property prices has been surprisingly resilient through the summer months, with house prices up an enormous 2.5 per cent month-on-month in August and by 3 per cent in Dublin, allaying...
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