‘Recovery’ in Dublin, Cork housing markets

The Cork and Dublin property markets are making a strong recovery, according to the chairman of Nama, Frank Daly, as the agency gears up to take over IBRC’s loan book.

Speaking at a Association of Chartered Certified Accountants (ACCA) function in Limerick, he said that they had chosen to complete 30 new houses in Forest Hill, Carrigaline in Cork to meet surging demand for houses in the county.

“You might ask why we are funding new housing supply when there is a problem of oversupply in the country. The reality is that the Irish housing market — like most housing markets — is not homogeneous.