Huge decrease in loan applications
THERE has been a dramatic decrease in the number of people applying to Wexford County Council for housing loans.
'Not many houses are being bought and people are not coming to us,' Director of Services Tony Larkin, pictured right, told councillors.
'It may be that people are holding back to watch the market, in the hope that house prices will fall further,' he said.
The council paid out only four housing loans under different categories in the first eight months of this year, although eight applications were approved.
The total amount paid out was 230,000. The total number of applications received was 25.
' They can only come to us if they have been refused by a bank. The council has to be careful too. The demand is very low and those who apply who should get a loan are getting it,' the Director of Services said.