Investors bet easing mortgage rules means higher profits for Ireland’s biggest homebuilder

Shares in Glenveagh have jumped by over 3 per cent

Glenveagh CEO Stephen Garvey. Picture: Fennell Photography

Shares in Glenveagh Homes rose strongly yesterday as investors bet the easing of the Central Bank’s mortgage lending rules would result in higher income for the company.

The price of the firm’s stock rose by more than 3 per cent yesterday, the best performer on the Irish stock exchange.

Shares in Cairn Homes, Ireland’s only other listed housebuilder, also performed well, rising by almost 2 per cent. This was despite the value of all companies ...