Market comment

Mortgage approvals in September up 35% on the year

DAVY VIEW

This morning’s Banking & Payments Federation Ireland (BPFI) data show €2bn of mortgage loans in Q3, ahead of expectations. Mortgage approvals were €1.1bn in September, up 35% on the year. So our forecast for a €7.3bn mortgage market in 2020 now looks too conservative despite the likely disruption in Q4 from the six-week lockdown. Also, the average mortgage approval in September was €251,300, up 9% on the year, pointing to fresh impetus for Irish house prices.

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Oct 27 2020, 07:05 GMT

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