Mortgage approvals up in 2013 despite loss of interest relief

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. 

YTD approvals Dec 13

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.

Monthly approvals Dec 13

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.

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