The future looks bright for the homebuilding sector

3 D Specialists Strip Out And Builders Works

The homebuilding sector stands to rebound strongly from the Covid-19 pandemic as mortgage approval rates hit a ten-year high.  €1.5bn worth of mortgages was approved in October, the highest for any month since 2011.  The main contributing factors are believed to be a rise in savings as well as the government subsidy for first-time buyers of new homes.  Approvals for first-time buyers was up by 31%.  Average mortgages amounts were €250,000, representing a 5% year-on-year increase.

This article was first seen on: