House price pain set to continue but incomes to rise in real terms

While mortgage holders, particularly tracker mortgages customers, are set to benefit from interest rate reductions this year, these cuts could push house prices further skyward, writes Cáit Caden
House price pain set to continue but incomes to rise in real terms

ECB rate reduction will provide welcome relief to mortgage customers, especially tracker holders, but are likely to drive house prices higher for first-time buyers.

First-time home buyers are unlikely to find relief anytime soon from eye-watering house prices, which have surpassed their peak reached during the Celtic Tiger era.

Figures released from the Central Statistics Office (CSO) this week showed house prices in April this year were 10% above than their highest point in May 2007, however times have become considerably tougher for consumers since the "boom".

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