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Consumers bank on house price rises as mortgage requests rocket

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Consumers bank on house price rises as mortgage requests rocket

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Banks across the eurozone are reporting a rise in the number of requests for home loans.

A survey carried out by the European Central Bank showed that consumers see property as an attractive investment and as banks relax lending criteria demand for home loans has increased.

Demand for mortgages was strong in the Netherlands and Germany, two countries considered a safe haven in a struggling euro zone and where borrowing is easy, but also in heavily indebted Italy.

Germany’s Bundesbank has been keeping a close eye on rising property prices, which are up by almost a quarter over the past four years in the country’s most prosperous cities.