IntroductionThe Irish residential mortgage market has grown significantly over the last few years driven by strong house price growth, falling interest rates and demographic pressures.
What are the current issues facing this market? How are housing policies affecting its performance? Who are the biggest lenders? What will be the size of the sector in the next five years? This report provides the answers.ScopeCovers the residential mortgage marketProvides market sizing data in terms of gross advances and balances outstandingProvides competitor market share for the top five players in terms of balances outstanding; a short profile of the top players is also providedLooks at housing policies and issues in the marketHighlightsDespite the housing stock growing steadily, a tight supply as compared to demand has been a major driver of rising house prices in the Irish market.
In order to try to meet demand, building activities have picked up significantly in recent years for instance, roughly 77,000 new builds came on the market in 2004.Fueled by factors such as rising house prices, strong consumer demand and lower cost of borrowing, gross advances in the Irish mortgage market grew at an estimated CAGR of 28.0 per cent from 2001 to 2005.The fact that the Irish mortgage market is dominated by variable rate mortgages means that households are vulnerable to rising interest rates, particularly those who have taken out their mortgage recently since they are generally more highly indebted.Reasons to PurchaseLearn how the Irish residential mortgage market has developed over the last five yearsUnderstand the recent developments in the market in terms of regulation, competition and product innovationsFind out Datamonitor's opinion on the future performance of the Irish residential mortgage market over the next five years and its future prospects