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House Prices.

Dáil Éireann Debate, Thursday - 30 September 2004

Thursday, 30 September 2004

Ceisteanna (247)

Bernard J. Durkan

Ceist:

248 Mr. Durkan asked the Minister for the Environment, Heritage and Local Government if his attention has been drawn to the recent concerns expressed in respect of over pricing in the housing market; if he proposes to take steps to address the issues raised; and if he will make a statement on the matter. [23081/04]

Amharc ar fhreagra

Freagraí scríofa

I am aware of recent concerns expressed in relation to the housing market, including comments by the IMF. These were among a range of views in recent commentaries on the prospects for the housing market. The recent financial stability report from the Central Bank also examined the issue of house prices in Ireland and noted that an alternative approach to valuation, which incorporates the demand for housing both in terms of the service it supplies, and as an investment, does not provide evidence of overvaluation.

The Government will continue to focus on measures to maintain an adequate level of housing supply in keeping with demand and ensuring that the demand for housing is met in a sustainable manner. I expect that further moderation in the rate of house price increase will ensure that the housing market continues to develop in a balanced way.

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