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News : Property Last Updated: Aug 28, 2014 - 2:00 PM

Irish mortgage approvals at 22,400 in year to July 2014; Lowest since 1974
By Finfacts Team
Aug 28, 2014 - 11:26 AM

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The Irish Banking Federation has published the latest figures from the IBF Mortgage Approvals Report today, which shows that 22,400 mortgages were approved in the 12 months to July 2014, which is the lowest since 1974 when 20,800 were approved. A total of 2,555 were approved on average in the three months to July.

The following are the main results:

  • A total of 2,555 mortgages were approved per month, on average, in the three months ending July 2014, of which 2,360 (92%) were for house purchase;
  • The number of mortgages approved rose by 46.1% year-on-year and by 12.7% month-on-month;
  • The value of mortgages approved per month, on average, in the three months ending July 2014 was €462 million, of which €443 million (96%) was for house purchase;
  • The value of mortgage approvals increased by 54.0% year-on-year and by 13.8% month-on-month.

The year to date to end-July has seen some 13,300 mortgage approvals valued at over €2.3bn.

All figures are based on the three-month moving average. Year-on-year compares the average for the three months ending July 2014 with the three months ending July 2013. Month-on-month compares the average for the three months ending July 2014 with the three months ending June 2014.

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