House price rises will trigger more building, says Abbey boss

Property prices will have to increase to trigger supply, according to Charles Gallagher, the executive chairman of house builders Abbey, who claims that “we’re a long way from a bubble”.

Gallagher, whose company last week announced pre-tax profit of €63.5 million, up from €61.5 million, said a rise in wages is “good for house building” because it “allows the customer to pay more”.

In an interview with The Sunday Business Post, he said: ...