Irish Property Bubble? Central Bank Governor Denies Is Bubble
Central Bank of Ireland governor Philip Lane yesterday rejected suggestions of an Irish property bubble and that the economy is on the brink of another housing bubble and said the recent increase in house prices is not indicative of a property bubble forming.
However, this optimism is not shared by a large part of the Irish people as there are very high levels of concern about the risk of another property bubble and property crash according to the latest Sunday Independent/Kantar Millward Brown poll:
‘A quite astonishing 38pc of people believe that the housing market is destined to collapse as it did during the last recession. That is a much larger share than those who believe the contrary.
Growing fears about another property crash are reflected in another question put by the pollsters – ‘Is this a good time to buy a house?’
Five years ago, when the recovery hadn’t got going and property prices were on the floor, an overwhelming majority thought it a good time to buy. Now less than half do.
This post was published at Gold Core on May 4, 2017.
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