The latest figures from the Central Bank show that weakness in residential mortgage lending persisted in November.The Central Bank says that mortgage lending rose by just €96m in November.
This compares with an average monthly increase of over €850m between January and September of this year.
It also compares with an average monthly increase of almost €2bn at the height of the housing boom in 2006.
The annual rate of increase in residential mortgages slowed to 6.7% last month from 7.6% in October – the lowest annual rate of increase since 1986.
Overall, private sector credit growth slowed to 8.4% in November from a figure of 8.9% the previous month.
The figures from the Central Bank also show that new credit card spending was slightly over €1bn in November, the lowest level since April 2006
