News Formal

Property market spooked by interest rate worries

  • 📰 RTEbusiness
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 61%

South Africa News News

Rising interest rates and ongoing supply problems are having a particularly negative impact on property market sentiment, according to a survey by MyHome.ie.

Two-thirds of respondents say they are worried that interest rate hikes will affect their ability to buy, up 20% compared to March when respondents were asked the same question.

Nearly three-quarters of respondents will look to power their home with renewable energy due to high energy costs, however of those who are looking to renovate or build, a similar percentage have seen their plans negatively affected by the cost of living crisis. "Given the sustained upward trajectory of interest rates, it is not surprising to see sentiment worsen, especially considering there is simply not enough supply in Ireland to satisfy demand," Ms Geary said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 16. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rising card fees causing big problems for businesses, industry group warnsIrish Small and Medium-sized Enterprise association warns on costs
Source: IrishTimes - 🏆 3. / 98 Read more »