Developers and investors in both residential and commercial property markets expect the current building boom to continue, at least in the short term.
This is according to a survey conducted at the Ulster Bank CBRE Gunne Property Conference 2005 this week.
According to the survey, 80% think that the construction boom will continue for another two to three years and 60% felt that between 70,000 and 80,000 houses would be completed this year
71% of industry workers expect a rise of between 3-7% in house price inflation during 2006, while 70% felt the average house price in Dublin will be €750,000 or more in 2015.
Practically all of the delegates at the conference thought that the current boom would continue, with 90% feeling that it would last more than another year. Almost 63% felt it would last more than three years.
Hardly any of the delegates at the conference said they expected house prices to fall, with 40% forecasting rises in the 3-4% range next year, and as many again seeing inflation averaging above 5%.
