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Davy Research

Market comment

Mortgage lending of €1.5bn ahead of expectations

Jul 30 2020, 07:05 IST/BST
Conall MacCoille
Irish Economy
4 page(s)

Conall MacCoille

Analyst

DAVY VIEW

This morning’s Banking & Payments Federation Ireland (BPFI) data on mortgage lending are a mixed bag. Drawdowns were €1.5bn in Q2 2020, down 35% on the year but stronger than our forecast for €1.25bn (and €7bn in 2020). However, mortgage approvals in June remained weak at €536m, still down 48% on the year. This jars slightly with more positive indicators of Irish housing market activity picking up through June and July.

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Jul 30 2020, 07:05 IST/BST

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