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New mortgages issued up 5.8pc so far

Monday, December 23 11:57:48

So far this year, 15,601 new mortgage approvals for house purchases have been issued by Irish lenders, which represents an increase of 5.8pc compared to the same period in 2012.

That's according to the latest figures from the IBF Mortgage Approvals Report, published by the Irish Banking Federation (IBF), which shows that 1,852 mortgages to the value of E334 million were approved by lenders here during the month of November.

The number of mortgages approved fell 1.4pc on a monthly basis (from October 2013) and fell by 7.9pc on an annual basis (from November 2012).

Figures show that the value of mortgages approved in October was E334m of which E319m (95pc) was for house purchase.

The value of mortgage approvals fell by 3.8pc on a monthly basis and by 3.5pc on an annual basis.

Commenting on the figures, IBF Chief Executive, Noel Brett said: "The figures for November confirm the monthly volatility that is a pattern of mortgage market activity at various times over the year. More significantly, activity for the year as a whole to date continues to show improvement over the previous year with 15,601 mortgages approved so far. The indications are that this growth trend will be evident in the end-of-year figures".