Average Irish mortgage drawdowns hit a record of almost €328,000 in the first three months of the year, according to figures from the banking industry, as borrowers took on more debt as home prices continued to soar amid a shortage of properties for sale.
This was driven by a 9.6 per cent annual rise in loans on second hand properties, to €370,790, according to Banking & Payments Federation Ireland’s (BPFI) latest quarterly mortgage drawdowns report, which draws on data going back to 2005. Joe Brennan has the details.
The cost of agricultural land in Ireland is forecast to rise by a further 6 per cent this year, as increased demand from the resurgent dairy sector is expected to outstrip supply, according to a report that warns US import tariffs could “temper” that increase.
The report, by State farming agency Teagasc and the Society of Chartered Surveyors Ireland (SCSI), also forecasts that rental prices could increase by 7 per cent this year. Hugh Dooley reports.
For many of us, getting the family somewhere warm at the lowest cost possible is the goal every summer. Particularly this summer, amid a looming trade war and meltdown in global markets, writes Fiona Reddan.
Others, however, may have some spare cash that they wish to use to make that much-needed trip go that little bit smoother. So if that’s you, what are the options for adding a bit of luxury to your travel this spring and summer?
Social media groups Meta and X have been ranked by consumers as the least reputable among 100 top organisations in Ireland, with the credit union movement named as the most reputable for the third consecutive year.
The annual study by the Reputations Agency is based on the perceptions of over 5,000 members of the public. It measures levels of trust, respect, admiration and esteem the public has for 100 of the largest organisations in Ireland, reports Colin Gleeson
“Hopefully, this will be a positive end to the story for everyone”, said the co-founder of Blackwater Distillery after a rescue plan was approved following a meeting of the company’s creditors with a process adviser at the start of April.
Nearly 95 per cent of the company’s unsecured debt was written off, a sum of more than €500,000, and extended the repayment periods of other debts, stabilising the Waterford-based whiskey and gin distillery, writes Hugh Dooley.
In his personal finance Q&A slot Dominic Coyle answers a question for a reader who is concerned over whether a UK pension would have an impact on claiming a non-contributory pension in the Republic.
Cantillon reckons that another ECB rate cut is nailed on and marvels at the resurrection of the Andersen name.
Whether former fund manager Neil Woodford deserves forgiveness is a matter for theology. Whether he deserves your money is a more earthly concern, writes Proinsias O’Mahony in Stocktake.
The launch last week of a four-year programme of voluntary redundancies at RTÉ follows years of controversy over governance and finances at the broadcaster that stretch back well before the Ryan Tubridy payments affair of 2023.
In fact, one of the implicit defences offered by board and management in Montrose for the unacceptable practices which came to light then was the intolerable pressure placed on RTÉ by successive governments’ failure to reform the licence fee and, by implication, stump up more cash. but is their position any worse than any other media organisation, asks Hugh Linehan
Stay up to date with all our business news: sign up to our Business Today daily email news digest. If you’d like to read more about the issues that affect your finances try signing up to On the Money, the weekly newsletter from our personal finance team, which will be issued every Friday to Irish Times subscribers.
