Mortgage drawdowns jump by 14 per cent year-on-year

Mortgage drawdowns jump by 14 per cent year-on-year

The mortgage market is gradually gathering steam, but a lack of property supply means it is still a challenging landscape for first-time buyers

Figures released last week by the banking sector representative body, Banking and Payments Federation Ireland, showed mortgage drawdowns were up over 14 per cent year-on-year in the last three months of 2016.

However, broker group PIBA believes the lending levels are still too low. Rachel McGovern, PIBA’s chief operations officer, said extra housing supply was urgently needed to prevent further house price and rent inflation.

“Supply is still a big issue even with the incentives in...

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