DUBLIN, Oct 4 (Reuters) - Ireland’s Central Bank is seeing evidence of a significant supply response to a damaging scarcity of housing in Ireland but it will take a number of years to catch up, its governor Philip Lane said on Thursday.
“There is a supply response happening but given the many years of underinvestment, this cannot close the gap completely. This remains a multi-year challenge,” Lane told a parliamentary committee.
He also said caps on mortgage lending set by the central bank were “biting”, at least for rises in Dublin house prices that have begun to slow down.
Reporting by Graham Fahy; editing by John Stonestreet