Davy Research

Market comment

Irish mortgage market set for 30% growth to €7.5bn in 2017

DAVY VIEW

Irish residential property prices rose by 2% in September, with annual inflation at 12.8% — the fastest pace in two years. However, we still expect a gradual slowdown to 8% price growth in 2018 as Central Bank lending rules limit leverage in the mortgage market. Banking Payments Federation Ireland (BPFI) data released this morning show that new mortgage lending in Q3 was €2bn, up 29% on the year. So our forecast for a €7.5bn mortgage market in 2017 is still on track.

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