Banks appear to be lending again according to new figures from the Irish Banking Federation, which show a near 50% increase in mortgages in the three months to July.
There was a 46% increase in the number of mortgages approved in the second quarter and a 54% increase in the value of mortgages drawn down.
Yesterday’s figures from the CSO showed that property prices in Dublin are rising as fast as they did during the peak of the boom.
You can view the report in full here.
Mortgage Approvals – July 2014
August 28, 2014
The Irish Banking Federation has published the latest figures from the IBF Mortgage Approvals Report for the three months ending July 2014.
The following are the key elements:
• A total of 2,555 mortgages were approved per month, on average, in the three months ending July 2014, of which 2,360 (92%) were for house purchase.
• The number of mortgages approved rose by 46.1% year-on-year and by 12.7% month-on-month.
• The value of mortgages approved per month, on average, in the three months ending July 2014 was €462 million, of which €443 million (96%) was for house purchase.
• The value of mortgage approvals increased by 54.0% year-on-year and by 13.8% month-on-month.
The year to end-July has seen some 13,300 mortgage approvals valued at over €2.3 billion.
Data collection for the IBF Mortgage Approvals Report began in August 2012 covering the period from January 2011 onwards in respect of the market’s main mortgage lenders. The report is available for download here.
All figures are based on the three-month moving average. Year-on-year compares the average for the three months ending July 2014 with the three months ending July 2013. Month-on-month compares the average for the three months ending July 2014 with the three months ending June 2014.
Note: The Irish Banking Federation (IBF) is the principal voice of the banking and financial services sector in Ireland, representing over 70 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.
