Central Bank’s decision to ease mortgage rules has fanned house prices, ESRI report concludes

In highly critical review, the institute describes regulator’s move to ease its borrowing rules for first-time buyers as ‘premature’The Central Bank building at North Wall Quay, Dublin.

The average loan size was 4.6 times disposable income at the end of 2023, a level not seen since 2006, it said. “The results of our analysis are somewhat sobering and suggest that the credit channel has once again in recent years become somewhat influential in impacting Irish house prices,” the think tank said.

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