Maeve Sheehan: Our property market faces a modest future
Richard Curran tells Maeve Sheehan what we have learned from the crash and predicts where we're heading
WHEN the property market was still thought to be on its upward trajectory, only a handful of commentators called it. Journalist and broadcaster Richard Curran's Futureshock documentary in 2007 was among the first to predict the disastrous impact of the implosion of an unsustainable property bubble.
Now that house prices are moving again, the appetite for prophets of the property market has returned.
Having fallen by around 50 per cent since the boom, house prices are now 12.3 per cent higher in Dublin than they were a year ago. Rural dwellers have yet to catch up: outside of the capital prices fell by 2.6 per cent lower than they were last year. Still, the property market hasn't seen price rises like this since 2007, leading to warnings of a property bubble mark two.