'Like the price of water in the desert' - Why Irish house prices will keep rising

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The Pat Kenny Show News

News,Central Statistics Office,European Central Bank

Irish house prices have increased risen by 6.1% in the year to February, according to the CSO

Irish house prices are likely to keep rising even if there is an interest rate cut by the European Central Bank this summer.

"That's usually how it works what we've seen is actually the interest rates and property prices rose almost in tandem with one another.Demand"In our circumstances at this moment in time the effect of raising interest rates to make those property prices fall it just doesn't seem to have been very effective," he said.

Mr Deeter said average house prices being much higher than average earnings is not just an Irish issue."That is not a specifically Irish problem.

News Central Statistics Office European Central Bank Gabriel Makhlouf House Prices Interest Rate Cut Interest Rates Karl Deeter The Pat Kenny Show

 

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