AIB says falling interest rates won’t revive property market

AIB says the reduction in mortgage interest rates and falling house prices are unlikely to revive the property market.

The bank does not expect the tax increases announced in Tuesday's Budget to affect affordability for first-time buyers, but its housing market bulletin for April does not foresee a pick-up in the sector.

It says concerns about the current economic climate and job security are the main factors contributing to the falling mortgage uptake.

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