The Irish Banking Federation has published the latest figures from the IBF Mortgage Approvals Report for the three months ending May 2014*.
The following are the key elements:
A total of 2,040 mortgages were approved in May, of which 1,888 (93%) were for house purchase.
The number of mortgages approved showed a year-on-year increase of 41.6% and a month-on-month increase of 14.3%.
The value of mortgages approved in May was €358 million of which €343 million (96%) was for house purchase.
The value of mortgage approvals increased by 46.7% year-on-year and by 16.6% month-on-month.
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 May 2014 with the three months ending May 2013. Month-on-month compares the average for the three months ending May 2014 with the three months ending April 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.
Contact: Jillian Heffernan Marketing Communications Manager, IBF, Ph: 01 4748835 / 087 9016880