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Mortgage lending growth slows again

Credit figures - Construction slowdown hits growth
Credit figures - Construction slowdown hits growth

Figures from the Central Bank show that growth in residential mortgage lending slowed again in August, having fallen to a five-and-a-half-year low in July.

The annual rate of growth was 17% in August, down from 17.9% in July. The rate of growth has fallen by about a percentage point each month since the start of the year.

The bank said the overall rate of borrowing growth in the economy was 20.1%, down from 20.3% in July.

Non-mortgage lending growth also fell, to 25%, with the Central Bank attributing this partly to lower lending to the building and property sectors after a fall in activity during the summer.