Mortgage Approvals – May 201828th June 2018
Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for May 2018.*
The following are the key elements:
- A total of 4,473 mortgages were approved in May 2018 – some 2,230 (49.9% of total volume) were for first-time buyers (FTBs) while mover purchasers accounted for 1,206 (27.0%).
- The number of mortgages approved rose by 9.8% year-on-year and by 19.2% month-on-month.
- Mortgages approved in May 2018 were valued at €1,014 million – of which FTBs accounted for €506 million (49.9%) and €324 million (32.0%) by mover purchasers.
- The value of mortgage approvals rose by 14.4% year-on-year and by 20.3% month-on-month.
Re-mortgage/switching approvals rose on a year-on-year basis – by 106.0% in value and by 96.0% in volume terms.
The annualised volume of mortgage approvals exceeded 44,000 in the twelve months ending May 2018, about 1% higher than the twelve months ending April 2018. The annualised value of approvals fell by 0.2% to almost €9.5 billion. The annualised value of FTB approvals rose by €58.5 million to €4.8 billion.
The fastest growing segment was still switching where the value of lending rose by €70 million to almost €1.1 billion in the twelve months ending May 2018.
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 May 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.
Contact: Jillian Heffernan, Head of Communications, email@example.com 087 9016880