The Central Bank warned yesterday a disorderly Brexit could create a double hit to property prices, due to a rise in unemployment among owner-occupiers and the potential for quick sales by cuckoo funds that have snapped up huge numbers of properties. The bank’s Financial Stability report yesterday advised that the UK crashing out of the EU without a deal would shave six percentage points off economic growth over two years. “The main outstanding source of risk to financial stability and the wider economy is a larger-than-expected macroeconomic shock in a disorderly Brexit,” it said. As well as the risk of a Brexit-induced plunge in house prices, the report showed there are warning signals in the €2.5trn investment funds sector domiciled here. Those funds have €18bn invested in property and, in the event of a financial shock, they could hit the local market hard if they were forced to dispose of their portfolios in a hurry due to the effects of Brexit. While data from the Central Statistics Office (CSO) showed the economy has continued to grow strongly, the Central Bank report warned Brexit could also hit the banks through loans to the many small companies whose export markets in the…