Banking & Payments Federation Ireland (BPFI) has today published the latest figures from the BPFI Mortgage Drawdowns Report for Q4 2021 and the BPFI Mortgage Approvals Report for December 2021.
The following are the key figures from the Mortgage Drawdowns Report for Q4 2021.
In addition, BPFI also published today the latest figures from the BPFI Mortgage Approvals Report for December 2021:
Speaking on the publication of the data, Brian Hayes, Chief Executive, BPFI said: “Our latest mortgage data which provides an annual picture for 2021, shows significant numbers of both drawdowns and approvals and a particularly strong year for First Time Buyers.”
“Drawdown volumes rose by 22.1% to 43,494 while values rose by 25.1% to almost €10.5 billion. These were the highest volumes since 2009 and the highest values since 2008. At a segment level, FTBs continue to drive the growth with FTB volumes at their highest level since 2007 and 14.8% higher than in 2008. By contrast, mover purchase volumes were 48.2% lower than in 2008.”
“In annual terms, approvals volumes reached 53,335 in 2021, up 23.6% on 2020. The value of approvals jumped by 30% to €13.4 billion. These are the highest levels recorded since the data series began in 2011.”
Mr Hayes added: “Looking to the year ahead we anticipate a strong pipeline of mortgage approvals which will be further bolstered by the recent operational flexibility announced to the CBI’s macroprudential rules. With an increase in housing supply also projected we expect all these factors combined to lead to strong activity in the housing and mortgage markets during 2022.”