Uncertainty over job prospects makes homebuyers fearful of taking plunge

HOMEBUYERS remain fearful about taking advantage of the best affordability conditions in the housing market in almost two decades because of uncertainty over employment prospects.

Depressed overall confidence in the economy and deteriorating employment prospects are the present drivers of housing demand, according to the latest AIB housing bulletin.

Data from the Irish Banking Federation shows that a 68% annual decline in the value of new mortgage lending in the first quarter of this year.