Ireland: Sound economic fundamentals prevented price falls

The report’s author Professor Michael Ball said that in the UK and other high-value housing markets such as Ireland and Spain, sound economic fundamentals had prevented price falls.

“Fears of a considerable house price slowdown in what are considered as over-heated markets of the UK, Spain and Ireland, once again proved to be quite off the mark,” he said.

“Rising income and employment have cushioned these and other markets across Europe from rising interest rates, and the prospects for 2007 remain good.”