Mortgage lending rose by 73 per cent in the first quarter of 2015 to € 983m, as first-time buyers continued to dominate the market.
However, both the value and volume of mortgage lending was down on the last quarter of 2014, and the impact of tighter lending requirements from the Central Bank, which came into force on February 11th, has yet to be fully observed.
According to data published on Tuesday by the Banking and Payments Federation Ireland, some 5,618 new mortgages worth €983m were drawn-down in the first quarter, up by 64 per cent on the same period in 2014, but down by 26 per cent on Q4 2014, traditionally the strongest period for mortgage lending. This compares with Q1 2007 when 7,919 loans worth some €7.8 bn were drawndown.
Read the full details in the Irish Times
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