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Crisis: The dysfunctional property market has already re-emerged just a few years after the biggest housing bust in the country's history

Crisis: The dysfunctional property market has already re-emerged just a few years after the biggest housing bust in the country's history

Crisis: The dysfunctional property market has already re-emerged just a few years after the biggest housing bust in the country's history

There is another house price bubble under way in the Dublin area. Notwithstanding the efforts by the Central Bank to keep mortgage credit under control, some extraordinary prices have been quoted recently for the small parcels of land that become available.

A site with planning permission is for sale on Vernon Avenue in Clontarf, on the north side of the capital. This is a nice area, close to the sea and only about four kilometres from the city centre.


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