Where next for Irish property?

The decision by the European Central Bank to increase interest rates will make life more difficult for mortgage holders and for first-time buyers.

16th April, 2011

Homeowners and mortgage seekers had their worst fears confirmed by the April meeting of the European Central Bank (ECB) which announced the bank’s first interest rate rise in almost two years.

The widely anticipated 0.25 percentage point increase on the ECB’s benchmark rate of 1 per cent will put further pressure on already struggling mortgage holders. It could also discourage potential buyers from applying for a mortgage and further depress an already stagnant...

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