House price bubble unlikely, says ESRI

THE current economic environment will not result in a house price bubble, according to the author of the ESRI’s quarterly bulletin Danny McCoy.

At the launch of the autumn economic review at the ESRI yesterday, Mr McCoy said the scare stories from the Economist magazine and elsewhere in recent months about the threat of a house price bubble were unfounded.

“We don’t see a bubble on the horizon,” he said. “That is the position we have held and nothing in the past three months would lead us to change our view,” said Mr McCoy.