Mortgage Approvals – February 201827th March 2018
Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for February 2018.*
The following are the key elements:
- A total of 3,137 mortgages were approved in February 2018 – some 1,580 (50.4% of total volume) were for first-time buyers (FTBs) while mover purchasers accounted for 808 (25.8%).
- The number of mortgages approved rose by 5.0% year-on-year and fell by 0.3% month-on-month.
- Mortgages approved in February 2018 were valued at €691million – of which FTBs accounted for €351million (50.8%) and €211million (30.5%) by mover purchasers.
- The value of mortgage approvals rose by 11.1% year-on-year and by 0.2% month-on-month.
Re-mortgage/switching approvals rose on a year-on-year basis – by 65.5% in value and by 64.0% in volume terms.
An analysis of mortgage approvals on an annualised basis shows that the fastest growing segment, yet again, was switching – with volumes rising to 3,927 in the twelve months ending February 2018, double the volume in May 2016. In addition, the annualised volume of mortgage approvals rose for the 23rd consecutive month, rising by 0.3% in the twelve months ending February 2018 to 43,549.
Data collection for the BPFI Mortgage Approvals Report began in September 2012 covering the period from January 2011 onwards in respect of the market’s main mortgage lenders. The BPFI Mortgage Approvals Report February 2018 as well as the time series data file is available on the BPFI website here.
[*] The full time series of monthly data from January 2011 onwards is available on the BPFI website.
Note: Banking & Payments Federation Ireland represents banking and payments in Ireland, representing over 70 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.
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