![cash](https://img.resized.co/myhome-ie/eyJkYXRhIjoie1widXJsXCI6XCJodHRwOlxcXC9cXFwvYmxvZy1kZXYubXlob21lLmllXFxcL3dwLWNvbnRlbnRcXFwvdXBsb2Fkc1xcXC8yMDEzXFxcLzEwXFxcL2Nhc2gtMzAweDIwMC5wbmdcIixcIndpZHRoXCI6XCIzMDBcIixcImhlaWdodFwiOlwiMjAwXCIsXCJkZWZhdWx0XCI6XCJodHRwczpcXFwvXFxcL25ld3MubXlob21lLmllXFxcL2ltYWdlc1xcXC9uby1pbWFnZS5wbmdcIixcIm9wdGlvbnNcIjp7XCJvdXRwdXRcIjpcIndlYnBcIn19IiwiaGFzaCI6IjY2MTQxZjc2ZjNlM2I4NTM2MzFmYTZjZGM3OWQxY2M2YzQ3Zjg3OTMifQ==/bank-lending-to-households-falls-by-4-3.png)
Bank lending to households declined by 4.3% in the year to August, new Central Bank figures show.
Mortgage lending was down 2.3% on an annual basis, while other types of bank lending fell by 10.3%.
The Central Bank said that households' repayment of debt continues to outstrip credit supply. Households' repayments outstripped credit draw-downs by €411m last month - mainly driven by a fall of €234m in mortgages.
Alan McQuaid, economist with Merrion Stockbrokers said the latest figures show that there is still little progress being made in terms of advancing loans to households.
"As a result, this will severely hamper the overall recovery prospects for the housing market and the Irish economy as a whole, and keep the unemployment rate higher than it would otherwise be," the economist said.