Dublin house prices rising

Dublin house prices are on the rise again after the introduction of the Central Bank’s mortgage lending rules which delayed rather than prevented inflation, a leading economist has claimed.

The Central Bank’s rules introduced early last year are designed to protect the financial sector from risky lending which caused the financial meltdown Irish banks are still recovering from.

Their introduction slowed house- price inflation last year and looked to be taking the heat out of the Dublin market but this was just a temporary effect that has now passed, according to Savills director of research John McCartney.