ESRI: Housing Market Likely To...


ESRI: Housing Market Likely To See Sharp Slowdown

Emma Tyrrell
Emma Tyrrell

07:33 6 Oct 2022

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House prices here could be overvalued by at least 7%.

In its latest quarterly economic assessment, the ESRI is warning the property market is likely to see a sharp slowdown in the months ahead but didn't state if that might lead to falling prices or a price correction.

It comes as a popular twitter page on the housing market has highlighted a reported drop in house prices.

Meanwhile, the ESRI has also described the Irish economy as 'robust' and says it will continue to perform well despite global uncertainty and the cost-of-living crisis.

Kieran McQuinn, a research professor with the ESRI, is also predicting another strong year for jobs in 2023;

"We expect the unemployment rate to continue to fall and we believe that it will be just over 4 per cent next year and that's a very low unemployment rate given the history of the Irish labour market."

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