RTE Drivetime – the IBF property market report, 28th May 2013

We were asked to speak to Mary Wilson about the IBF property report on RTE Drivetime. There was a view given earlier in the day that the month on month increase in applications was a positive thing, we chose to look at year on year figures which tell an entirely different story. And while lending is down 26%, drawdowns down over 18%, transactions are up over 14%.

To us this is indicative of a market where credit is not functioning in it’s natural role, price is not the issue, it’s scarcity which is the problem.

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