Mortgage approvals show annual increase of 7.3pc in June – IBF report
The latest figures from the IBF Mortgage Approval Report, published today for the month of June, show an annual increase of 7.3pc in the level of mortgages approved by mainstream lenders.
With 92pc of new approvals now accounted for by house purchases, the level of approvals in this key segment also showed a year-on-year increase, rising 8.8pc on the same period in 2012; and the average mortgage approval value for the purposes of house purchase was €174,675 – down by 2.6pc on June 2012.
In total, the report shows that 1,652 mortgages were approved by lenders here in June to the value of €280m.
The IBF has welcomed the sustained growth seen in both the volume and value of mortgage approvals on a year-on-year basis, particularly in the category of house purchases. It said that this growth, combined with reports from lenders of good levels of applications, signals a healthy pipeline of mortgage activity which is expected to be reflected in future drawdown figures.