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THE APPROVAL RATE for mortgages was up by almost 30% in the year to December, newly released figures show.
Figures from the Banking Payments Federation of Ireland (BPFI) show that mortgage approvals to buy homes in Ireland for the month of December were at 2,255.
This marks a 28% increase on last year.
In monetary terms, mortgage approvals reached €488m last month, an increase of 39% on last year.
An analysis of the figures by Davy Stockbrokers also found that the average approval for first-time buyers to €201,928, up 14% on the year.
This is due to a relaxing of the Central Bank’s mortgage lending rules in November, which meant that borrowers could take out a higher debt.
A mortgage approval is when a firm offer of credit is made by a bank to a customer.
Despite the significant rise in the number and value of mortgage approvals throughout 2016, Davy said that it was not changing its forecast for how much the value of approved mortgages will grow in 2017.
The firm forecast a 20% increase in mortgage lending (from €5 billion last year to €6 billion this year).
Lack of supply in Ireland’s property market is one of the key reasons for this.
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Thanks be to God for channel choice.
That’s me back to my Friday night pub visit so…..
How that muck is still being broadcast is baffling, but hey it’s ARTE after all.
@Gavin Linden: exactly
BRING BACK TOMMY TIERNAN
@pat seery: The best show they have.
@pat seery: we can hear you.
Nothing like snuggling up on a Friday night at 9.30 to watch anything but the late late.
This year really is a washout with this tripe on and our license fee paying the sticks wages. Thank god for sky and Netflix.
I suppose Ryan will be giving us another sermon tonight.
It’s Netflix for me
Ah yes the late late show moaners are back after summer hibernation. Ye weren’t missed
I won’t be watching that rubbish I will be out for a pint
Anybody but Tubridy..
I’ll literally watch anything else – even paint drying on a wall would hold more interest and that is not an exaggeration.
My partner says DANNY from The Script is a Ride.
Woeful show and they continue to get away with it, a bit like Sophie’s murderer I suppose. Ryan – he is talented in many ways – is not the right person to present this, and they need to sack the editorial team who choose the guests / topics. I do hope the appeal from Sophie’s son gets some results and some good comes out of this.
have your say