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News Detail | Michelle Burke

Property News

Standard & Poor expects the “robust recovery” in the housing market to continue this year.

Aug 04, 2016

Standard & Poor's credit rating agency is optimistic about the continued housing recovery in Ireland - It said house prices would rise by 6pc, aided by the ongoing improvement in the labour market and a housing supply shortage.

The rise in property prices was likely despite the vote in Britain to leave the EU, it said.

Brexit will have a dampening effect, but will not derail the economic recovery in this country, S&P said.

“The prospect of Brexit will also contribute to a slowing of house price inflation, but the ongoing improvement on the labour market, along with a housing supply shortage that the decimated housebuilding industry finds difficult to address, will underpin relatively solid house price growth in the medium term,” the ratings agency said in a report on Europe’s housing markets.

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