Vol. 504 No. 7
248 Mr. Hayes asked the Minister for the Environment and Local Government his views on the latest set of figures produced by First Active Building Society which show that the problem of house price inflation in the first quarter of 1999 continues to be a feature of the housing market; and if he will make a statement on the matter. [12625/99]
House price statistics compiled by individual lending institutions from their own transactions can only provide a partial analysis of market trends. However, the latest figures published by First Active for the first quarter of 1999, which suggest house price increases of 2 per cent nationally and of 1.7 per cent in Dublin, seem to confirm a trend of moderation in house price increases that has been evident since the latter part of 1998. The general consensus is that the Government actions have played a key role in this moderation of house price increases. As the Government's measures to accelerate housing supply have increasing effect, I expect to see consolidation of price stabilisation and the establishment of a pattern of balanced housing growth into the medium term.
