New figures show that the Irish mortgage market continued to grow strongly in the third quarter of this year, though the rate of growth is slowing.
The figures, from the Irish Banking Federation and consulting group PwC, show that there was €10.9 billion of new mortgage lending in the three-month period from July to September. This was up 16.9% on the same period in 2005, but the annual rate of growth in the second quarter was 20.6%, indicating an easing of growth.
The report found that the average loan in the first-time buyer market was €231,514, up just 1.8% on the previous three months.
Mover buyers accounted for the biggest slice of the market by value - almost 30% - followed by first-time buyers (21%) and residential investment mortgages (20%).
