Banks

Housing: rate rises less impactful to Ireland

  • Sectors : Banks
  • Companies : Bank of Ireland | Glenveagh Properties | Cairn Homes | AIB Group | permanent tsb Group

Ratings

Ratings and price correct at time of issue

Company Rating Date Previous Rating Date Closing Price
AIB Group OUTPERFORM 23/01/19 Neutral 14/08/18 250c
Bank of Ireland OUTPERFORM 11/03/13 Neutral 14/08/12 631c
Cairn Homes OUTPERFORM 26/08/15 N/A N/A 108c
Glenveagh Properties OUTPERFORM 10/11/17 N/A N/A 94.8c
permanent tsb Group OUTPERFORM 04/02/21 Neutral 06/03/19 148c

DAVY VIEW

Lending for house purchase in Ireland is likely to perform significantly better than other European countries as mortgage rates rise due to the conservative macroprudential rules in place in Ireland. Relative to European peers, this is likely to be a significant positive theme for Irish banks and homebuilders – particularly in the next year.

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Jun 1 2022, 07:15 IST/BST

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