Dublin ‘to flag’ housing market recovery

ANY recovery in the residential housing market is likely to be evident in the Dublin area before anywhere else, according to one prominent economist.

Dermot O’Leary – chief economist with Goodbody Stockbrokers – made the assertion in response to a new report by property website, Daft.ie, which said that house prices dropped by nearly 6% in the second quarter of this year, meaning that by the halfway point of the year, prices were 19% lower than at the same point in 2008.

“While all geographical areas of Ireland’s housing market have suffered in the past two to three years, there is clear evidence that a regional divergence in performances is emerging.