ASK THE EXPERTS

Is another property crash possible amid fears that the economy is overheating? PAT DAVITT I don’t believe it is. There was little credit in the market up to early 2018. And 60pc of purchasers were buying without mortgages. While properties have increased in some areas by a substantial amount, there has also been a correction in these areas over the past eight months. DARINA COLLINS The market is cyclical and we are already seeing a slowdown in the rate of price increases. We do not envisage a dramatic crash such as previously seen, particularly because the Central Bank is keeping a tight rein on credit. As supply increases, demand will ease and prices should stabilise. MICHAEL GREHAN Nothing is impossible but let’s be clear — our economy is not overheating. Property prices are still 20pc to 30pc below the previous peak and we have a particularly strong Central Bank to curb over lending. AINE MYLER Higher interest rates coupled with increased supply will impact on prices in the future and it will be at that stage we will learn whether the Central Bank rules have proved sufficiently robust to minimise the downside of these external factors for homeowners. KEITH LOWE The property market the world over is cyclical in nature and as such a property crash is always a possibility. However, I see absolutely no sign of it in the short term. The residential market is underpinned by the economy, which is performing strongly. Google, Facebook, LinkedIn, Sales Force & Wework have collectively taken 1,750,000 sq ft of office space in the capital this year resulting in the creation of several thousand new jobs. These staff need accommodation leading to increased demand. Given the above, I see no risk of the market overheating.