Mortgage Approvals – September 20179th November 2017
Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for September 2017.*
The following are the key elements:
- A total of 3,660 mortgages were approved in September 2017 – some 1,844 (50.4% of total volume) were for first-time buyers (FTBs) while mover purchasers accounted for 1,051 (28.7%).
- The number of mortgages approved rose by 9.4% year-on-year, but declined by 7.5% month-on-month.
- Mortgages approved in September 2017 were valued at €788 million – of which €392 million (49.7%) was accounted for by FTBs and €266 million (33.8%) by mover purchasers.
- The value of mortgage approvals rose by 18.9% year-on-year but declined by 7.4% month-on-month.
Re-mortgage/switching approvals grew on a year-on-year basis – by 18.6% in value and by 11.2% in volume terms .
The average home purchase approval value in September was, at €227,115, up 7.2% year on year. However, average purchase approval values fell month-on-month for five of the six months ending in September 2017, while FTB and mover purchase average values have each fallen in three of those months.
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 September 2017 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 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.