by Mark O’Byrne
A property bubble is developing in Ireland again. The Dublin housing market has seen residential property prices surge by 50% on average and as much as 100% in more affluent areas since the Dublin property market began to bounce in 2012.
[…] Respected Irish economist and economic commentator Colm McCarthy warned last week that “there is another house price bubble under way in the Dublin area.”
While all the focus is on the housing crisis and the rising threat of homelessness for many including families, and rightly so, less attention is being paid to the surge in prices in Dublin. Prices have risen by so much that modest 3 bed and 4 bed houses in middle class suburbs in Dublin are now unaffordable to typical middle class families.