April mortgage approvals down 6% on March figures

ireland
April Mortgage Approvals Down 6% On March Figures April Mortgage Approvals Down 6% On March Figures
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Muireann Duffy

The number of mortgages approved in April fell by 5.9 per cent to 4,304 compared to figures from March, according to the Banking and Payments Federation of Ireland (BPFI).

The latest figures show first-time buyer (FTB) mortgages represented 53.3 per cent (2,296) of the total number of mortgages approved last month, while mover purchases accounted for 21.4 per cent (923).

In total, €1.2 billion in mortgages was approved by lenders in April, of which €645 million was for FTBs and €287 million for movers.

The average value of mortgages approved during the month dropped by 3.7 per cent compared to March, but was up 6.9 per cent on April 2021 figures.

"While our latest mortgage figures show a slowdown in approvals growth, it’s important that we look at this in the context of the historically high levels at which the market has been operating for quite some time now, so it’s not unexpected to see some dips like we have during April," BPFI chief executive Brian Hayes said.

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"More than 54,000 mortgages were approved in the twelve months ending April 2022, with more than 29,000 going to FTBs alone.

"These are still close to the highest levels seen since the data series began in 2011," he added.

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