Banking & Payments Federation Ireland (BPFI) has today published the latest figures from the BPFI Mortgage Approvals Report for August 2022. The following are the key elements:
Speaking on the publication of the data, Brian Hayes, Chief Executive, BPFI said: “Our latest figures show continued growth in mortgage approvals in August with significant levels of activity amongst FTBs and those who are switching lender or topping up. With FTBs now accounting for almost 45% of the mortgage market in volume terms, we welcome the continuation of the Help-to Buy Scheme announced in this week’s Budget, given its positive effect in supporting demand for FTB homes and in encouraging builders to supply those homes.”
“Looking at the annualised figures which give us a better overall picture, the figures show there were almost 57,000 mortgages approved in the twelve months ending August 2022, valued at €15.1 billion. This was the first time since the data series began that the value of mortgage approvals had exceeded €15 billion on an annualised basis. Additionally, FTB approvals reached their highest value since the data series began (almost €7.7 billion), while the value of non-purchase mortgage approvals more than doubled since the twelve months ending August 2019 to about €3.4 billion.