Houses are not overpriced – CBI
Houses are not overpriced, the Central Bank has insisted.
That's despite soaring house price inflation this year that has prompted comparisons with the bubble conditions before the crash, and raised fears homes are once again becoming overvalued.
"While price growth remains in double digits, analysis suggests that prices, to date, have not decoupled from developments in underlying economic fundamentals, ” the Central Bank said.
The comment is contained in a wider note on credit conditions in the economy. In the commercial real estate market, including for offices, price rises have "moderated substantially" the Central Bank said.