Property market ‘faces no danger of crash’

THERE is no danger of a crash in the property market, but it may be in for a soft landing, according to the latest forecast by the country’s leading bank.

However, the report by AIB warned of a fall in rental income this year, with many investors experiencing a reduction of up to €200 a month.

Despite growing concern that many people are struggling to meet mortgage repayments, AIB economist John Beggs says the case for a crash has been overstated. Central Bank figures show that €56 billion is currently outstanding in mortgage debt.