Property prices expected to rise by 4% in the next year

Image: Alamy Stock Photo Image: Alamy Stock Photo NATIONAL PROPERTY PRICES are expected to rise by 4% over the next year, the Society of Chartered Surveyors Ireland has said.

These factors include inflation, rising interest rates, supply chain issues and geopolitical uncertainty caused by Russia’s invasion of Ukraine.But O’Sullivan said “the vast majority of agents still believe market factors – namely low levels of supply – will continue to underpin prices in the near term.”

“Unfortunately, with construction costs continuing to spiral and interest rate increases on the way it looks as if the situation facing first time buyers is set to become even more challenging. #Open journalism No news is bad news Support The Journal Your contributions will help us continue to deliver the stories that are important to youO’Sullivan said: “With a population now in excess of five million for the first time since 1841, a trend towards smaller average household size, current positive net migration, plus commitments to provide accommodation to incoming refugees from Ukraine, it’s clear the need to unlock additional housing supply remains acute.

Source: Real Estate Daily Report (realestatedailyreport.net)

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