The ICS Building Society says the indicators for the mortgage business in 2001 are positive, however chief executive Brian Forrester said weaker growth in the last couple of months suggested growth rates would not match last year.
At today's ICS AGM, members were told drawdowns for the first three months of this year were up 27% compared with last year. Mortgage approvals were up 41% compared with the first quarter in 2000.
Forrester said these figures were largely due to strong demand from the final quarter of last year.
Forrester said the demand for housing is strong, but prices are anticipated to rise at a more moderate level of about 10 to 12% this year.
Last month ICS reported an increase in new mortgages of 21.5% to 606 million euros, and a 6.3% increase in surplus before tax to 49 million euros.
