A spike in house prices is unlikely to follow a rise in the value of mortgage approvals, it’s been claimed.
More than 5,000 mortgages worth a record 1.3 billion euro were granted by Irish banks in November, according to the Banking and Payments Federation.
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The value of approvals is up 33 percent compared to the same period last year.
However, despite this strong consumer demand, and a relative shortage of supply, Tommy Corbett of Carey Corbett Financial Solutions in Ennis thinks central bank lending limits will ensure that house prices don’t soar.