Almost €1.3 billion worth of mortgages approved in July

ireland
Almost €1.3 Billion Worth Of Mortgages Approved In July Almost €1.3 Billion Worth Of Mortgages Approved In July
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James Cox

A total of 5,033 mortgages, worth €1.3 billion, were approved in July according to the latest figures from the Banking and Payments Federation Ireland (BPFI).

Over half of these mortgages were first-time buyers (55 per cent) with 2,766 approved.

Mover purchasers accounted for 1,272 (25.3 per cent). The number of mortgages approved fell by 3.3 per cent month-on-month and rose by 48.2 per cent compared with the same period last year.

The value of mortgage approvals rose by 0.6 per cent month-on-month and by 58.3 per cent year-on-year.

On an annualised basis 53,511 mortgages were approved in the twelve months ending July 2021, valued at €13.2 billion.

Annualised figures show the sum of volumes or values in the 12 months ending in that month. Using annualised figures helps property experts to identify underlying trends.

BPFI chief executive Brian Hayes said: “The latest mortgage approvals for July show continued growth, especially for FTB mortgages. In total almost €1.3 billion in mortgages were approved, the most in any month since BPFI began collecting this data in 2011.”

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