Call for housing market ‘crisis’ to be addressed in budget

Significant Government intervention is needed to bring about stability in the housing market, according to Ireland’s largest estate agency.

As Sherry FitzGerald revealed figures showing the cost of an average home in Ireland rose by 2.3% from July to September this year, its chief economist Marian Finnegan warned, 14 months after the Government’s Rebuilding Ireland programme was launched, the residential market remains in crisis.

The latest rise brings growth in the year to date to 6.8%, and compares to a year-to-date increase of 4.0% in the corresponding period in 2016.