New mortgage approvals up around 14 per cent on 2015
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The number of new mortgages drawn down between July and September was up around 14 per cent on last year, new figures show.
The data from the Banking & Payments Federation Ireland (BPFI) shows that a total of 8,133 new mortgages worth €1.56 billion were issued in July-September 2016.
The total is up by 19.6 per cent in volume and 21.1 per cent in value on the previous quarter, and up by 13.7 per cent in volume and 16.7 per cent in value on the same time period in 2015.
First-time buyers remained the single largest segment by volume (48.6 per cent) and by value (46.4 per cent).
Together, first-time buyers and mover purchasers accounted for almost 85.5 per cent of the total value of mortgages drawn down.
The volume and the value of re-mortgage loans continued to increase strongly – albeit from low levels: 674 re-mortgage loans were drawn down in Q3 2016 to the value of €142 million, reflecting year-on-year growth of 103.6 per cent in volume and 90.7 per cent in value.
A full report is available from the BPFI’s website.
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