Restrictive lending stopping people from buying homes

An association of financial brokers has criticised the Central Bank’s lending restrictions, describing the measures as “excessive” policies that are creating “a lost generation robbed of the opportunity to buy their own homes”.

The Daft.ie rental report for the second quarter of the year, released earlier this week, stated that rents have risen nationally by 11% year-on-year and that there were 20% fewer homes for rent than on August 1, 2015.

Rachel McGovern, chief operations officer at the Professional Insurance Brokers Association, claimed the report “provides the latest evidence that in several locations across the country it is cheaper, in some cases considerably so, to buy a property than rent one”.