The governor of the Central Bank has warned of a possible correction in house prices as supply picks up over the next two to three years and other factors such as higher interest rates and Brexit come into play. He said Central Bank research pointed to house completions of approximately 23,500 units in 2018 and 28,500 in 2019. Mr McGrath said current Central Bank powers to regulate service providers rather than the funds themselves was not sufficient to protect consumers, and this point had now been accepted politically even if the Central Bank refused to acknowledge it. Mr McGuinness went a step further, claiming that funds were “running rings around the Central Bank in order to push people out of their homes”. “In these investigations the Central Bank is considering all possible angles, including potential individual culpability.

Source: The Irish Times May 10, 2018 12:17 UTC