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Mortgage approvals show monthly rise, but big annual slump

The number of mortgages approved in June rose by 20.4% compared with May, but slumped by 49.5% compared with the same time last year, according to the Banking and Payments Federation Ireland.

Today’s BPFI figures also show that the value of mortgage approvals in June rose by 21.3% month-on-month but fell by 48% year-on-year.

A total of 2,263 mortgages were approved in June with 46.8% of these for first-time buyers while mover purchasers accounted for 24.6%.

First-time buyers remained the single largest segment by volume (49.6%) and by value (50.3%) during the three month period from April to June. 

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