House prices will continue to rise for the next five to 10 years unless drastic action is taken, a report released on Friday by property website Daft.ie has warned.
Daft.ie economist Ronan Lyons said that we are unlikely to see a stabilisation of prices in Ireland’s property market and that prices in Dublin will continue to drift upwards at a faster rate than the rest of the country. This was because “we’ve regulated ourselves out of the volume of homes that are needed,” he said.
The warning comes as the Government has ordered an investigation into the cost of building homes across Europe because it does not accept claims from construction groups that developers need more State money to help solve the housing crisis.
Read the full details in the Irish Times
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