Mortgage Approvals Show Annual Increase of 7.3% in June

  • Over 1,600 mortgages approved in June to the value of €280m
  • Key category of approvals for house purchases up 8.8% on last year

The latest figures from the IBF Mortgage Approval Report, published today for the month of June, show an annual increase of 7.3% in the level of mortgages approved by mainstream lenders.

With 92% of new approvals now accounted for by house purchases, the level of approvals in this key segment also showed a year-on-year increase, rising 8.8% on the same period in 2012; and the average mortgage approval value for the purposes of house purchase was €174,675 – down by 2.6% on June 2012.

In total, the report shows that 1,652 mortgages were approved by lenders here in June to the value of €280 million.

In assessing today’s figures, IBF has welcomed the sustained growth seen in both the volume and value of mortgage approvals on a year-on-year basis, particularly in the all-important category of house purchases. This growth, combined with reports from lenders of good levels of applications, signals a healthy pipeline of mortgage activity which is expected to be reflected in future drawdown figures.

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. You can find the latest report here.

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, ph: 01 474 8835 / 087 9016880