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Although the Irish mortgage market has been hit hard by the events of recent years, there are signs that the market is beginning to show some more positive signs of activity though nothing like the level reached during the economic boom years. This is due primarily to the growing sense that property prices have finally bottomed out.
Nonetheless, lending criteria remain considerably tighter than in the pre-crisis years, while the tolerance for risk is low (and will almost certainly remain so for many years to come, at least). As a result, lending remains subdued and significant downside risks (such as high levels of unemployment and continued job losses) remain.