Bookies slashes odds on house prices hike

Paddy Power have revised their Irish property betting after Fianna Fáil's manifesto proved positive for first-time house buyers.

Paddy Power have revised their Irish property betting after Fianna Fáil's manifesto proved positive for first-time house buyers.

Despite the fact that national house prices have already fallen this year by .5%, the bookies has slashed the odds on national house prices rising in 2007 from 8/15 to 1/3, while the odds on a decrease in property prices for the year have drifted to 2/1 from 11/8.

Sharon McHugh, spokesperson for Paddy Power said: "For the last month or so, people have been betting on house prices falling, but various party plans to abolish stamp duty for first-time buyers are sure to be music to the ears of those who want to get on the property ladder, and will undoubtedly mean more people will be willing to buy. We've seen a positive swing in the betting already."

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