150% Increase In Mortgage Approvals In May.

Tuesday, 29 June 2021 09:41

4,683 mortgages were approved in that month.

The number of mortgages approved in May 2021 is up almost 150 per cent on the same period last year.

New figures from the Banking and Payments Federation show 4,683 mortgages were approved in May of this year, compared to 1,879 in May 2020.

BPFI has today published the latest figures from our May 2021 Mortgage Approvals Report, showing 4,683 mortgages approved in May to a value of €1,160 million. First-time buyers accounted for 55.1% of total approvals volume. https://t.co/JwBnM6ZJt0 pic.twitter.com/mPqLIJUnxM
— Banking & Payments Federation Ireland (@BPFINews) June 29, 2021

First time buyers accounted for more than half of the total approved loans, while mover purchasers accounted for over 23 per cent.

The number approved in May is an increase of 7 per cent on the amount approved in April.

CEO of the BPFI, Brian Hayes, says the figures show the country is in a very different place now compared to 12 months ago:

There was a sharp increase in both the volume and value of approved mortgages in May when compared with the same period last year, according to figures from the Banking and Payments Federation. https://t.co/FQjmvhxX1b
— Irish Times Business (@IrishTimesBiz) June 29, 2021

Brian Hayes, says the figures are close to pre pandemic levels:

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