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Most real estate market professionals expect housing prices to continue to rise, but at a slower pace than in recent years.
But the number of people who expect prices to remain stable or fall over the next 12 months has increased.
The latest survey of the housing market conducted by the Society of Chartered Surveyors Ireland / Central Bank of Ireland indicates that 59% of real estate agents expect an increase in house prices at the national level during the next year, compared with 78% in a previous survey.
The real estate agents surveyed also expect inflation at national prices of 2% for the coming year. This is down from the 5% forecast in the second quarter.
They also announced 5% growth over the next three years, up from 8% previously.
This is the third consecutive survey in which the expected price inflation rate has eased and where factors such as value perception and Brexit have been the main factors. at the origin of the anticipated changes.
John O. Sullivan, a real estate agent and member of SCSI, said it was clear that affordability now affects real estate price inflation and that by therefore, the inflation rate is moderating.
He said that it was good news for the market and the economy in general.
"The main reason for the slowdown in inflation is due to an increase in supply, which results from the commissioning of new developments and the number of rentals offered to the market, owners continuing to exit the market. rental, "said Mr. O. Sullivan said.
The real estate agent said that the cost of accommodation, whether as a buyer or a tenant, is the biggest challenge facing those in high demand areas.
"If the price inflation of high value goods has decreased, it is likely that it will also slow down in the short term for other badet categories. That being said, the entry level, where the demand is very high, is the most active and the least affected, "said Mr. O. Sullivan added.
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