Irish home and commercial property prices are forecast to dip slightly over the next three years, according to figures being used by European authorities to stress test banks across the EU in 2020. The European Bank Authority, overseeing the assessment, said on Friday that its central projections were based on data received from national central banks. However, sources said that while the Irish Central Bank provided “a possible path which is based on latest trends” to European officials, it did not issue forecasts. Goodbody Stockbrokers analyst Colm Lauder said the developments in the market highlight “a perception that the Irish property market is late cycle”, especially after the sale of real-estate investment trust Green Reit late last year to UK property company Henderson Park. The results of the stress testing of 51 banks, including AIB and Bank of Ireland, will be published at the end of July.

Source: The Irish Times February 01, 2020 07:18 UTC