A Kerry estate agent says it’s not clear yet what impact the latest decrease in interest rates will have on house prices.
The European Central Bank recently announced a further cut to interest rates of a quarter per cent to 3.15%.
It’s the fourth interest rate cut in 2024 by the ECB, which has hinted more cuts may follow if inflation continues to ease towards 2%.
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Interest rates had been increasing steadily in a move to battle rising inflation between 2021 and 2023.
Estate agent with Sherry Fitzgerald Stephenson Crean in Tralee, Paul Stephenson, says it’s difficult to say what impact the decreases will have, given the fact the increases didn’t slow prices at all.
