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21/02/2008
Mortgage Growth Dives
The property slowdown is hitting home: according to new statistics, the growth in household mortgages last year was the lowest for 12 years.
The details are according to the latest assessment by the Central Bank.
It said that the value of outstanding mortgages at the end of 2007 was 13.4% higher than that at the end of 2006.
This compares to a 24.2% increase over the previous 12-month period - a significant fall that is thought to reflect overall trends in the rapidly cooling housing market.
(BMcC)
The details are according to the latest assessment by the Central Bank.
It said that the value of outstanding mortgages at the end of 2007 was 13.4% higher than that at the end of 2006.
This compares to a 24.2% increase over the previous 12-month period - a significant fall that is thought to reflect overall trends in the rapidly cooling housing market.
(BMcC)
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