Wednesday, July 1, 2009

Austin Hughes, Chief Economist, IIB Bank

Speech to Irish Home Builders Association, 12 May 2006:

"In recent months an acceleration in Irish house price inflation has raised concerns that the property market might be developing in a way that threatens not only the stability of that market but also the health of the broader Irish economy. I think these fears are exaggerated.


I think it is only slightly provocative to suggest that a more pertinent question is to ask why Irish house prices are rising so slowly.


However, a range of supportive influences should ensure house prices will continue to increase. We expect house prices will rise by 10 percent on average in both 2006 and 2007. As a result housebuilding will remain a key sector of this economy."

RTE News, 14 July 2009:

"We are past the low point of the downturn, and things will get a little easier in the next six months"

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