It’s likely that the build up of savings during lockdowns played an important role in the surge in house prices since 2022.  It’s also becoming a self fulfilling prophecy in many wealthy countries that house hunters assume prices will rise further and so pay more for property.  They are among the findings of a new report by the ESRI which was published alongside its regular economic forecast. 

Dr Conor O’Toole is Associate Research Professor with the ESRI joined Joe this morning to discuss the findings.