Only one in 10 believe the economy will improve over the next year

Over half of Irish consumers are in a worse off place financially this year, according to new research carried out by Permanent TSB and Kantar

House prices were of particular concern for many who completed the survey, with 47% of respondents saying they are unable to afford to live in their preferred community.

Two out of three Irish consumers believe the economy will continue to deteriorate over the next year, while over 60% feel their financial situation is in a worse place than it was last year, according to new research by Permanent TSB.

The bank released the results of its latest Reflecting Ireland survey on Thursday, revealing a gloomy sentiment as the cost of living continues to squeeze pockets.