Consumers predict rise in house prices

IRISH consumers are expecting house prices to rise by around 5% this year and do not believe there will be a crash in property prices.

Despite reports from the Economist magazine and the Central Bank that house prices could see significant falls, Irish consumers anticipate the housing market to have a soft landing.

A survey by IIB Bank and the ESRI of consumer attitudes on the housing market found that the majority of consumers expect house prices to continue appreciating, while only one in 10 expect a crash.