A new think tank has predicted that Irish house prices will keep rising over the next three years.
The Irish Independent reports that the new report by the Economic and Social Research Institute (ESRI) indicates that prices will increase by 20% by 2020.
The average price of a home to September of this year €266,000. That figure is expected to rise to €320,000 based on inflation. Despite the figures, the ERSI has denied that the housing market is overheating.
The author of the report Professor Kieran McQuinn. said:
"The analysis suggests that the Irish housing market is not overheating at present however, as economic growth continues and the banking sector recovers, it will be critical to monitor credit provision to avoid fuelling house price inflation"