Central bank sees "soft landing" for Irish housing

With Ireland's economy set fair, the property market is heading for a soft landing, says John Hurley, the governor of Ireland's central bank.

Speaking at the publication of the Irish central bank's annual report, the governor noted that this time last year the central bank was very concerned about the acceleration in house prices. However: "Current developments are more consistent with stability in the market," he said.

The major underlying factors supporting the demand for housing are

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