Investec predicts 2014 housing market recovery

As the Central Statistics Office reported the first fall in house prices in Dublin in almost a year, Investec Ireland published a major report forecasting that 2014 would be the year of the housing market recovery.

Prices fell 0.7% from December in Dublin, but values gained 6.3% from the year-earlier period. The price of residential properties in the rest of the country were unchanged in January compared with a fall of 1.6% the same time last year.

The Investec report entitled, “From stabilisation to recovery,” forecasts that the recovery in the Irish residential market will spread beyond the Greater Dublin Area, with rising prices set to be a feature of many urban areas, in 2014.