The lastest CSO figures show that loans approved for house purchase were €424m in March, up 51% on the year. There were €1.2bn of mortgage approvals in the first quarter – a €4.8bn annualised pace.
 
According to Davy Stockbrokers, "At least 27% of mortgage loans in 2014 exceeded the Central Bank's limits on loan-to-value ratios, well in excess of the 15% allowed. So a tightening will inevitably occur through 2015 if banks are to abide by the rules. According to the Central Bank of Ireland's lending survey, Irish banks tightened credit availability in Q1 2015 and are expected to do so again in Q2. So credit should tighten later in 2015."

Source: www.businessworld.ie