The latest figures from the Central Statistics Office show that house price growth is slowing, but not by enough. Unfortunately, the slowdown in price growth does not appear to be driven by increased supply. Instead, it appears likely that affordability – or the lack of it for many buyers – has slowed price inflation a bit. Even so, the growth rate of prices is still ahead of average wage growth and so affordability will be getting more stretched for many. The Government will hope that its new strategies to accelerate housing and infrastructure delivery will soon start to lift supply levels.
