As pent-up demand spills over, supply is the only real answer
The Central Bank lending restrictions introduced almost two years ago were applied to cool the then dangerously overheating Dublin property market.
The capital was, at that time, showing price hikes of up to 20pc per annum. This sort of inflation had been driven by a chronic shortage of existing homes for sale, a famine in new home construction and a revival in mortgage lending.
However, the bank changes, which hiked up deposit and loan-to-income requirements, were only ever a temporary measure.