Ireland’s house price growth is expected to grow faster than those in any other EU country by the end of the year, fuelled in part by Brexit-related demand.
By David Fuller
According to international rating agency Standard and Poor’s (S&P) latest research, property prices in Ireland are expected to grow by 8.5 per cent by the end of the year. Among the reasons for the expected growth in Irish house prices is the relocation of some of London’s financial sector workers to Dublin following Brexit.
Additionally, the S&P report noted: “We expect Ireland’s housing market to experience the strongest year-on-year nominal house prices rises of 8.5 per cent this year and 7 per cent in 2018, underpinned by supply shortages and continued economic recovery.
“Housing market activity is set to expand in all major European markets this year, fuelled by historically low rates and gradually accelerating economic growth.”
Germany and the Netherlands are expected to see the next highest price growth, with property values predicted to rise by 7 per cent through the rest of this year.
At the other end of the table, the UK’s property prices are expected to grow by around 2.5 per cent between now and the end of the year, before slowing to 1 per cent next year. S&P says that the uncertainty surrounding the Brexit negotiations is likely to hinder UK property price growth going forward.
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