Mortgages Valuing €1.81 Billion Drawn Down in Q4
9,115 mortgages, valued at €1.81 billion were drawn down in the fourth quarter of 2016, according to figures released by Banking and Payments Federation Ireland on Thursday.
These latest figures represent an increase of 12.1% in volume and 16.4% in value compared to the third quarter of 2016. They also represent an increase of 14.0% in volume and 26.1% in value on the corresponding fourth quarter of 2015.
First-time buyers (FTBs) remain the single largest segment by volume (46.5%) and by value (44.6%). Together, FTBs and mover-purchasers accounted for 84% of the total value of mortgages drawn down.
The volume and the value of re-mortgage loans (switching) continue to increase – albeit from low levels: there were 851 re-mortgage loans in Q4 2016 to the value of €191 million. This reflects an increase of 26.3% in volume and 34.3% in value on the previous quarter and year-on-year growth of 75.4% in volume and 62.3% in value.
29,498 mortgages to a value of €5.66 billion drawn down in all of 2016.
The full mortgage drawdowns report can be read here.
