What must we do to stop a new house bubble?
While sellers must be rubbing their hands with glee, it has to be worrying that the price of houses in Dublin rose by 4.2pc in one month and that all properties in the capital (including apartments) hiked by 3.9pc in the same four weeks. This is an overall increase in property prices of 12.3pc in the year to September.
Of course house prices fell by almost 60pc when the 'bubble' burst in 2008, so prices are still a long way off the peak of the Celtic Tiger. But experts have acknowledged that those rates were grossly unsustainable in any event.
So why are prices rising in Dublin at such a rate when there is already concern among economists and politicians in Britain that an 8.3pc rise in asking prices in London is unsustainable?