Much has changed since the mortgage measures were first introduced. There are longer-term, structural, trends at play that merit deeper focus. Globally, interest rates have been on a downward path. The role of non-bank financial institutions in the housing market has expanded considerably, while housing supply overall in Ireland has recovered more slowly than many people expected.
Compared to 2015, we can now draw on more experience and analysis to inform our framework review. We have access to better information thanks to the Central Credit Register. Other countries have also adopted similar measures, so we can learn from their experiences.