Mortgage Approvals – January 201728th February 2017
Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for the three months ending January 2017.*
The following are the key elements:
- A total of 3,055 mortgages were approved per month, on average, in the three months ending January 2017 – some 1,473 (48.2%) were for first-time buyers (FTBs) while mover purchasers accounted for 991 (32.4%).
- The number of mortgages approved rose by 40.7% year-on-year and fell by 2.8% month-on-month.
- The value of mortgages approved per month, on average, in the three months ending January 2017 was €628 million – of which €295 million (47.0%) was accounted for by FTBs and €241 million (38.4%) by mover purchasers.
- The value of mortgage approvals rose by 53.2% year-on-year and fell by 2.0% month-on-month.
Re-mortgage or switching approvals grew on a year-on-year basis with activity accounting for 8.8% of the value and 8.0% of the volume of mortgages.
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 January 2017 as well as the time series data file is available on the BPFI website here.
[*] All figures are based on the three-month moving average. Year-on-year compares the average for the three months ending January 2017 with the three months ending January 2016. Month-on-month compares the average for the three months ending January 201y with the three months ending December 2016.
Note: Banking & Payments Federation Ireland is the voice of 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.
Contact: Jillian Heffernan, Head of Communications, 087 9016880