The latest figures from the IBF Mortgage Approvals Report, published by the Irish Banking Federation (IBF), show that 1,762 mortgages to the value of €317 million were approved by lenders here during the month of December.

This brings to 18,520 the total number of mortgage approvals during 2013, which represents an increase of 4.1% compared to 2012. 

The vast majority of these – 17,058 – were for house purchase, in itself representing an increase of 6.1% over the previous year.

The following are the key elements:A total of 1,762 mortgages were approved in December, of which 1,639 (93%) were for house purchase.The number of mortgages approved increased by 3% from December 2012 to December 2013 but fell by 2.2% on a monthly basis between November and December 2013.The value of mortgages approved in December was €317 million of which €305 million (96%) was for house purchase.

The value of mortgage approvals increased by 10.1% from December 2012 to December 2013 but fell by 1.2% on a monthly basis between November and December 2013.