19 March 2025
House Prices – IPAV Welcomes Month-On- Month Stalling
Commenting on the CSO Residential Property Price Index for January, IPAV, the Institute of Professional Auctioneers & Valuers, which has already warned of the risks associated with continuing house price rises welcomed the fact that month-on-month in January there was no increase in prices.
Pat Davitt, IPAV’s Chief Executive said the level of increases that have been happening over the last year and more are not sustainable.
“We now need to see the fundamental change in housing policy promised by the Taoiseach.
“Housing policy for too long has been debated from the point of different ideologies rather than acknowledging the realities and practicalities of the marketplace.
“A hangover from the financial crash has resulted in a retreat to ‘safe’ decision making and the demonization of builders and developers, the very people best equipped to get us out of the crisis if given a fair chance, such as low-interest loans,” he said.
Mr Davitt said time is of the essence given the depth of the crisis and the global economic threats.
“We would be worried if key decision making would have to await October’s Budget because that would mean the loss of a further year,” he said.
Referring to Rent Pressure Zone legislation he said it continues to be debated on the extremes, as does the idea of re-introducing a Section 23 type incentive.
“The Government needs to act on the basis of research, national and international, and real market data,” he said.
Ends