Business Irish

Thursday 18 September 2014

Most people expect house prices to rise this year - survey

Published 20/01/2014 | 11:16

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Fragment of Irish townhouses decorated with flowering plants
Property prices are rising faster in Dublin

MOST people expect house prices to rise this year, a new survey shows.

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And the new research commissioned by AIB, and carried out by the Economic and Social Research Institute, indicates that the positive views about the property market among consumers have strengthened.

Consumers expect that house prices will increase by 2.1pc over the next 12 months.

Dublin-based consumers expect higher house price growth, with growth of 3.6pc expected over the next 12 months, according to the new housing market index from AIB/ESRI.

The survey was conducted among over 800 consumers between July and December 2013.

The index points to a “significant shift” in consumer expectations from July last year when compared with December.

This was evident from the fact that the number of consumers surveyed who said they believed that house prices would be higher in 12 months’ time increased from 29pc to 46pc.

The main risks to buying noted in December by consumers was “worries about future income’” or “affordability concerns”.

This was followed by “fears about increasing interest rates”.

Also cited were “changes in family circumstances”, as was “possible changes in house prices”.

 

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