DUBLIN, June 14 Houses prices in Ireland are not
currently overvalued despite quite strong rises in the market,
the head of financial stability at the Irish central bank said
House prices climbed 10.5 percent in the year to the end of
April, their highest annual growth rate in almost two years,
amid a severe shortage of supply. They remain 31 percent below
the peak hit a decade ago at the height of the property bubble.
"One method we look at is the level of houses prices
compared to where we think they should be at this stage. The
work we have published that we will be updating suggests that
house prices are not currently overvalued, albeit that price
rises are quite strong," Mark Cassidy told a news conference.
(Reporting by Padraic Halpin; Editing by Hugh Lawson)