Home ownership rates declining in Ireland

Home ownership rates declining in Ireland

Home ownership rates have dropped in Ireland since the economic crash, according to a major global report by the ratings agency Fitch.

Home ownership levels have fallen around 80% to less than 70% today.

"Tight credit availability and stretched affordability should continue to lead to falling home ownership levels in many countries around the globe with a generation of first time buyers largely priced out of the market," the report stated.

"Prudential measures now target overheating markets in the Asia Pacific region, Canada, the UK and perhaps Ireland in the near future.

"While such measures reduce long-term risks, they put pressure on home prices and lending."

More on this topic

House prices predicted to rise further, according to Central BankHouse prices predicted to rise further, according to Central Bank

Varadkar allays fears of ‘land bubble’ amid home price riseVaradkar allays fears of ‘land bubble’ amid home price rise

House prices continue to rise with an increase of 12.4% in twelve monthsHouse prices continue to rise with an increase of 12.4% in twelve months

Warning about rate of rising house prices as figures show 13% increaseWarning about rate of rising house prices as figures show 13% increase

More in this Section

M&S chief financial officer quits role as firm slides out of FTSE 100M&S chief financial officer quits role as firm slides out of FTSE 100

UK government urged to prevent Thomas Cook collapseUK government urged to prevent Thomas Cook collapse

Facebook suspends ‘tens of thousands’ of appsFacebook suspends ‘tens of thousands’ of apps

Walmart to stop selling e-cigarettes at its US storesWalmart to stop selling e-cigarettes at its US stores


Lifestyle

Yvonne Young, group assistant director of nursing, University of Limerick Hospitals Group and National Sepsis TeamWorking Life: Yvonne Young, group assistant director of nursing

More From The Irish Examiner