Bank chief disputes IMF warning on Irish house prices
Monday, 7 April 2008
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The governor of the Central Bank has reportedly disputed the IMF's contention that Irish house prices may still be overvalued by around 30%.
House prices have been falling for the past 18 months, but the IMF has warned that prices are still significantly out of line with the "financial fundamentals".
Central Bank governor John Hurley, however, is quoted this morning as saying he believes there are good fundamentals in the housing market and the recent falls have brought prices back to realistic levels.
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