Eight in 10 mortgage applications refused - survey
A survey of brokers has found that up to eight in 10 applications for a mortgage are being turned down.
The Professional Insurance Brokers Association questioned its members on activity in the second quarter of the year for the study.
According to the Irish Independent, a majority of respondents said that between six and eight in 10 applications were rejected, with the most common reason being concerns about job security.
Meanwhile, new CSO figures show that house prices in Dublin are now 48% lower than at their highest level in early 2007.
The figures show the average cost of an apartment in Dublin is down 57% since the peak.
In the year to August, prices for homes around the country fell by almost 14%.
Ronan Lyons of Daft.ie said: "Effectively it's not really a surprise. Every indicator - be it asking prices or mortgages, as the CSO is based on - they're all pointing to further downward pressure on house prices."
