Figures show that the number of new mortgages in the second quarter of this year fell by 23% compared with the same period last year.
The mortgage market profile, published by the Irish Banking Federation and PwC, shows that there were 41,151 new mortgages taken out in the three months. This was up almost 8% on the first quarter figure, but this is in line with previous years as the second quarter is usually busier.
The mortgages were worth €8.7 billion, down 13.8% on the same period last year.
The number of loans granted in each sector of the market fell, while the share of the market remained relatively stable in most categories.
There was, however, an increase in the percentage of people switching, to 15.5%. This sector was also the only one to show an increase in the value of mortgages taken out compared with the same period last year.
