The latest mortgage drawdown data from the Banking & Payments Federation Ireland show that the mortgage market continues to recover, but there is still a long way to go to reach a ‘normal’ market in terms of mortgage numbers and value.
Table 1 shows the volume or number of mortgages drawn down. In the first half of 2017, 14,939 mortgages were drawn down. This was 22 per cent higher than the first half of 2016. First-time buyers accounted for 48.7 per cent of the total market; movers accounted for 31.5 per cent; and the other three components accounted for the remaining 19.8 per cent of the market.
Table 1: Number of Mortgage Drawdowns