Mortgage approvals at highest level in over 3 years - IBF

Tuesday 05 August 2014 18.37
2,268 mortgages per month were issued between April and June with 93% of those going towards house purchase
2,268 mortgages per month were issued between April and June with 93% of those going towards house purchase

Over 2,000 mortgages were issued per month for the purposes of house purchase in the three months to the end of June, according to the latest figures from the Irish Banking Federation.

It was the highest level of approvals since the Banking Federation series began in 2011.

A total of 2,268 mortgages per month were issued in the period under study with 93% of those going towards buying a house.

The remainder was mainly accounted for by top-up mortgages.

Mortgage approvals were up by 45% year on year and just over 11% month on month.

The value of mortgages approved per month, on average, in the three months to the end of June was €406 million.

That compares to €258 million per month in the same period last year. 

The IBF says the average approval value was €179,012 in June 2014, up 5.5% in the year.