Oireachtas Joint and Select Committees
Wednesday, 7 September 2022
Committee on Budgetary Oversight
Updated Economic and Fiscal Position in Advance of Budget 2023: Discussion
Dr. Tom McDonnell:
No, that is based on household formation generally. Whereas supply is still well short of that, the gap is actually increasing every year. That will continue to increase house prices.
On the other hand, interest rates will reduce prices. Obviously, if we have a recession and real incomes are falling, that will also have a negative effect on house prices.
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