It found that prices were about 7 per cent above their expected trend values as of the end of last year. Unlike the pre-2008 period, when the overvaluation of property was driven by excess credit, this time around prices have been inflated by pandemic-related factors such as increased savings and curtailed supply combined with “the increasing share” of institutional investors in the market, it said.
The rate of house price growth in the State fell to 13 per cent in July, down from 14 per cent in June, extending a pattern of deceleration seen in recent months, according to the Central Statistics Office.
IrishTimes House prices in Ireland are overvalued by far more than 7% 🙄
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