MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
  • Mortgages
  • Property Report
MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
    • Mortgage Learning Center
    • Calculators
    • Best Mortgage Table
  • Property Report
    • All Properties
    • Houses For Sale
    • Apartments For Sale
    • Available To View
    • Overseas Holiday Homes
      • Properties For Auction
      • Upcoming Auctions
      • BER Assessors
      • Property Conveyancing Solicitors
      • Pre-Purchase Surveyors
    • Find Agents
    • All Properties
    • Houses To Rent
    • Apartments To Rent
    • Available To View
    • Share
      • Irish Holiday Homes
      • Overseas Holiday Homes
  • New Homes
    • For Sale
    • To Rent
    • Auction
      • Residential Land
      • Commercial Land
      • Farm Land
      • Farms
      • Sites
    • MyHome Living
    • Buyer Advice Hub
    • Property Report
    • Property Price Register
    • Price Changes
  • Mortgages
    • Rental
    • Holiday Homes
    • Commercial
    • Sharing
Advertisement
  • Home
  • Uncategorized
  • Mortgage approvals grow at slowest rate since March 2016
Uncategorized
Dec 22, 2017 - 14:31

Mortgage approvals grow at slowest rate since March 2016

MyHome.ie
By MyHome.ie
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share
Mortgage approvals grow at slowest rate since March 2016

Mortgage approvals grew at their slowest rate since March 2016 last month, new figures from the Banking & Payments Federation Ireland show.

The number of mortgage approvals increased by 7.3% in November to 3,925, when compared with the same month last year.

The figures show that nearly half of the approvals (47%) were for first-time buyers, with mover purchasers accounting for 30%.

The value of all mortgages approved in November was €867m, which was 14.9% higher than the same month in 2016, but this is also the slowest value growth rate since March 2016.

Borrowers switching their mortgages were the fastest growing segment among all approval categories, showing a 62.6% rise in the year to November.

Advertisement

The number of switchers more than doubled between March 2016 and November 2017, increasing to 3,545.

According to the BPFI, the annualised volume of mortgage approvals rose for the 20th consecutive month by 0.6% in the 12 months to November to 42,974, up from 42,708 in the 12 months ending October 2017.

Commenting on the figures, Chief Economist with Goodbody Dermot O'Leary said: "November 2016 was a tough comparator as there was a jump in applications due to (unfounded) speculation that the macro prudential mortgage rules would be tightened at that point.

"Over the three months to November, the value of approvals grew by 22% yoy (+12% yoy by volume). Overall, this has been a year of strong growth in new mortgage approvals in Ireland (see chart below), with the number of approvals up by 25% yoy and the value growing by 36% yoy."

Subscribe to our weekly MyHome Living eZine today

Processing your request...

You are subscribed now!

<

  • Tags
  • approvals
  • Banking &amp; Payments Federation Ireland
  • mortgage
  • mortgage approvals
MyHome.ie
By MyHome.ie
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share

Helpful Links

Find your home on MyHome
Read more Articles
Calculate what you can afford to borrow
Welcome to the Retrofit Hub
Advertisement
Advertisement

Related News

What is a Heat Pump?
Uncategorized

What is a Heat Pump?

Feb 27, 2025
Living Cities Initiative
Uncategorized

Living Cities Initiative

Jan 14, 2025
Digital Services Act
Uncategorized

Digital Services Act

Mar 31, 2024
Avant Money and Finance Ireland announce new rates
Uncategorized

Avant Money and Finance Ireland announce new rates

Dec 09, 2021
Average deposit of first-time buyer was €52,000 in first half of the year
Uncategorized

Average deposit of first-time buyer was €52,000 in first half of the year

Dec 07, 2021
Frequent And Popular Searches
MyHome.ie Blog
Help
Jobs
About
Equality Guidelines
Brand Safety
Contact
Terms & Conditions
Cookie Policy
Privacy Policy
Digital Services Act
Sitemap
© Copyright MyHome.ie 2025
Advertisement