The latest figures from the IBF Mortgage Approvals Report, published by the Irish Banking Federation (IBF), show that 1,673 mortgages to the value of €281 million were approved here during the month of September.

“The mortgage market shows some signs of stability but it’s a long way away from a meaningful recovery” said Mr. Frank Conway, Founder of the Irish Financial Review.

The following are the key elements:

A total of 1,673 mortgages were approved in September, of which 1,544 (92%) were for house purchase. The number of mortgages approved increased by 10.1% on an annual basis (from September 2012) and fell by 5.8% on a monthly basis.

The value of mortgages approved in September was €281m, of which €269m, (96%) was for house purchase.

The value of mortgages approved grew by 5.8% on an annual basis ad fell by 5.5% month-on-month.

The overall trend in mortgage approvals over recent months is presented in the following graphs: