House price hikes ‘show politicians fail to learn lesson’

A senior economist has questioned if politicians have learned the lesson from the economic crash afterproperty prices jumped by almost 9% in November compared to the same month in 2015.

According to the latest CSO figures, residential property prices at national level increased by 8.6% in November. This compares with an increase of 6.9% in the year to October and an increase of 4.2% in the 12 months to November 2015.

In Dublin, residential property prices rose by 5.9% in the year to November. Dublin house prices increased 5.6% while apartment prices jumped by 9.6% in the same period.