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.
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