Haven, a subsidiary of AIB that gives out home loans through brokers has cut its mortgage rates, both fixed and variable. This news broke after AIB had made similar reductions, which has now resulted in a mortgage war. Several other banks are now expected to respond to this rate cut with cuts of their own.
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According to the Economic and Social Research Institute (ESRI), Irish householders are likely to be affected by the increase in interest rate initiated by the European Central Bank (ECB). A leading government think tank believes that Ireland could be more at risk than any other member of the European Union. Fed chair Janet Yellen warns that this will have major repercussions for Irish homeowners, firms and Exchequer.
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According to the Economic and Social Research Institute (ESRI), Irish householders are likely to be affected by the increase in interest rate initiated by the European Central Bank (ECB). A leading government think tank believes that Ireland could be more at risk than any other member of the European Union. Fed chair Janet Yellen warns that this will have major repercussions for Irish homeowners, firms and Exchequer.
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According to a survey carried out by the Central Statistics Office (CSO), property prices in Ireland increased by 12.1pc from January 2017 to October 2017. Clearly, this rate of increase is higher than the rate of inflation in January 2016 to October 2016, which was only 7.5pc.
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According to Ronan Lyons, an economist and assistant professor based at Trinity College Dublin, there is a marked difference between the number of houses constructed or in construction and the families occupying them. The solution could well be two to three-bedroom apartments for couples without children. Actually, he raised these issues at the 40th annual Dublin Economics Workshop conference in Wexford.
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A house is the most valuable asset a person can ever own. Consequently housing matters to economic development. While it can improve economic performance and competitiveness, it can also lead to segregation and poverty. As housing is closely linked to consumer spending, a rise in house prices makes homeowners feel more confident and wealthy. This is known as the ‘wealth effect’. The rapid rise in property prices in Ireland has led to an increase in spending on home improvements, holidays and high-value household goods.
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The Oireachtas committee recently released a report that provides solutions that could help in controlling the current housing crisis in Ireland. While focusing on the credit union sector, this report also issues various recommendations to increase its long-term sustainability.
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The Oireachtas committee recently released a report that provides solutions that could help in controlling the current housing crisis in Ireland. While focusing on the credit union sector, this report also issues various recommendations to increase its long-term sustainability.
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The housing crisis is deepening, according to the latest Daft.ie rental price report compiled by Ronan Lyons, Assistant Professor of Economics at Trinity College Dublin. As stocks are plummeting, rents are soaring, reaching high records. It is forecasted that the next three years could be heading for a 20% rise in house prices as well.
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The Supreme Court has decided to postpone its decision for an appeal, which affects the ability of the financial institutions to obtain the repossession orders which was levied on certain domestic property mortgages.
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