A survey of Irish consumers has found that 39% of those who hold SSIA accounts will continue to save when the scheme finishes.
According to the survey by IIB Bank and the ESRI, 24% plan to spend the money, while 10% will buy Irish property and 3% overseas property.
The bank estimates that SSIAs will boost Irish house prices by up to 10%, while their use to buy property makes it likely that rapid borrowing growth will continue in 2006.
The survey also shows that 70% of consumers surveyed expect interest rates to rise further in the coming year, but only one in 14 expect a 'significant' impact on their household finances. On house prices, consumers expect a rise of 6% this year and similar increases in each of the next five years.
