Davy Research

Irish Economy

Irish house price inflation back in double-digit territory at 10.7%

DAVY VIEW

Today’s Irish Residential Property Price Index (RPPI) shows a sharp acceleration in price inflation to 10.7% in February from 8.1% in January. The RPPI index rose by an enormous 1.5% in February following a sharp 0.9% gain in January. House price inflation accelerated to 8.1% in Dublin and was 13.1% in the rest of Ireland. In this context, our forecast for 10% house price inflation through 2017 is well on track with an even stronger gain possible. There is now little doubt that the loosening of the Central Bank mortgage lending rules and the Help-to-Buy scheme have added impetus to Irish house price inflation.

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