Hayes vows to tackle property bubble in capital

Junior finance minister Brian Hayes has confirmed a property bubble is emerging in some areas of the country and vowed the Government would do everything in its power to make sure it doesn’t happen.

Mr Hayes was speaking after latest figures showed house prices in parts of Dublin had increased by 10.5% to last August compared to a 2.8% national rate.

“Well it is bubble territory. Everything will be done to make sure a property bubble does not take hold and it’s in all our interests to make sure that doesn’t happen,” he said.