How the European Commission made a fundamental misstep when determining that Irish house prices are not overvalued (via IrishTimesBiz)
The finding will leave many here scratching their heads particularly when we know average house prices nationally, in Dublin and in Dún Laoghaire-Rathdown, the most expensive local authority area, are seven, 10 and 14 times the average full-time income here.
The think tank modelled where house prices should be on the basis of various economic and demographic factors such as income, population, credit and interest rates. “That doesn’t necessarily mean that house prices are going to fall by that amount, but what it does suggest is that the substantial increases in house prices that we’ve witnessed cannot continue into the future and you’re likely to see a significant moderation in terms of house price growth in the coming quarters and over the next year,” he said.
In the commission’s post-programme surveillance report, also published last month, it assesses the performance of Ireland’s economy while flagging some risk factors related to the housing market here. “In the case of Ireland, our indicators point that housing price increases are not as high as we have seen in other member states. Prices have been increasing, but the pace of increases have not been as high as elsewhere,” they said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Irish house prices aren’t overvalued, says the European Commission. Really?Are huoseprices too high? The Commission doesn't seem to think so
Read more »
EU must adapt state aid rules in face of US green subsidies, warns commission chiefEU must adapt state aid rules in face of US green subsidies, commission chief warns via IrishTimesBiz
Read more »
Warning that lack of specialist doctors tending Irish soldiers could result in missed diagnosesA Defence Forces doctor has warned that chronic under resourcing of military medicine could cause wrongful diagnoses of military injuries.
Read more »
Brian Fay smashes Irish indoor 5000m record StatesideThe in-form Raheny Shamrocks star shaved over nine seconds off the mark.
Read more »
IT Sunday: A united Ireland? What do the people think?North and South series explores public opinion on Irish unity on both sides of the Border
Read more »