Figures from the Central Bank indicate that mortgage lending activity picked up in January compared with December.
The amount of money lent for mortgages increased by €350m in the month, a figure which was equal to the total increase for the final three months of last year.
But the Central Bank said that despite this 'relatively strong' rise, the outlook was uncertain as a recent European Central Bank survey indicated that demand for mortgages would fall in Ireland in the first quarter of this year.
The annual rate of growth for residential mortgage lending fell to 5.4%.
Overall private sector lending increased by €3.3 billion in January after a fall of more than €9 billion in December. But the annual rate of growth again fell, from 6.5% in December to 6%.
