Rising home prices set to slow down

THE rise is house prices is expected to slow dramatically, especially in Dublin, according to a survey of key market observers.

The latest Central Bank of Ireland / Society of Chartered Surveyors Ireland Property Price Survey, states that expected price inflation nationally is 5% for the coming year – down from 8% since the last quarter of last year.

The expected inflation, over the next three years, is now 8%, down from 14%.

In Dublin forecasted inflation is down from 7% to 2% for the coming year and from 15% to 6% over the next three years.

The availability of bank credit was cited as the primary factor behind the change.