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...
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine
Out of Office: National Cyber Security Centre to get additional €2.5 funding and 20 new roles
The business news you might have missed, all in one place
Content is king – just ask Netflix as rivals attempt to steal its crown
A WarnerMedia-Discovery deal puts the spotlight on streaming wars as around 100 platforms vie for the attention of often fickle audiences
Tom Maguire: Tax changes we make now could help business for years
The way we did business a few months ago may never return – so the opportunity is to make changes that will both aid recovery and set us up well for our new futures