Property market about to bottom out, predicts Boucher

Property market about to bottom out, predicts Boucher

Richie Boucher of Bank of Ireland

The head of Ireland’s biggest bank believes the property market here is about to bottom out.

Bank of Ireland boss Richie Boucher told a Sunday newspaper that in recent months demand was outweighing supply in certain areas.

He said: “We think the property market is beginning to stabilise, in particular in urban areas.

“This time last year many of those who had mortgage approval from us were not taking up the mortgages as they were still nervous about buying.

“Now estate agents are saying there are more buyers than sellers in urban areas.”

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