Moody’s has warned of a severe shortage of housing in Ireland, which is continuing to drive up prices.
The global ratings agency estimates that the average price of a residential property in Ireland will increase by 5% this year due to the supply-demand imbalance.
While supply remains flat, demand for property is being pushed higher thanks in part to the relaxation of mortgage lending rules for first-time buyers, coupled with the introduction of the government’s Help to Buy scheme, which is driving up house prices.
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