Property industry plays down impact of higher interest rates: Is it right?

MyHome.ie, which is owned by The Irish Times, said asking prices for properties rose in the three months to the end of June following three quarter-on-quarter declines in a rowThe property industry here was decidedly downbeat in its outlook when Covid-19 first hit in 2020, predicting a significant contraction in prices.

In the end, we got a mini house price boom on the back of remote working and other trends like increased savings. Now in the face of higher interest rates and concerns that rates might be kept higher for longer to rein in inflation, the sector remains remarkably positive in its outlook, predicting a slowdown in price growth, yes, but no contraction.

, which is owned by The Irish Times, said asking prices for properties rose in the three months to the end of June following three quarter-on-quarter declines in a row, an indication that the market was “stabilising”.

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