Darragh O'Brien hopeful rise in house prices will "level off" next year 3 weeks ago

Darragh O'Brien hopeful rise in house prices will "level off" next year

"We're seeing some slowdown in the acceleration of house price increases already."

Minister for Housing Darragh O'Brien has said that he is hopeful the rise in house prices will "level off" next year.

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Speaking in Donabate on Monday O'Brien said that there has already been a "slowdown" in the "acceleration of house prices".

"I hope to see this level off and we're seeing some slowdown in the acceleration of house price increases already," he told reporters.

"Supply will increase substantially next year and I hope we would see a requisite tapering off of the level of increases that we're seeing," he added.

A new survey, published on Monday, found that house prices throughout Ireland have risen by 9% in contrast with 2020.

The report, conducted by property website MyHome.ie in association with the Davy Group, notes that the housing market is "still starved of supply" as potential homeowners "aggressively" bid on the stock that is available.

A separate study carried out by Daft.ie underlines this trend, highlighting an average nationwide price of €287,704 in the third quarter of 2021, up by €24,000 on last year.

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