Market comment

Irish mortgage lending grows to €3.1bn in Q2 2022

DAVY VIEW

Banking & Payments Federation Ireland (BPFI) data released this morning show that mortgage lending was €3.1bn in Q2 2022, well ahead of our forecast of €2.7bn. The big surprise was €700m of re-mortgaging activity, but lending for house purchase at €2.3bn was also €100m higher than expected. Irish housing market liquidity is improving in line with our expectations, but the average mortgage in Q2 was €273,000, up an enormous 12% on the year. We will likely revise up our forecast for mortgage lending in 2022 close to €13bn.

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Jul 26 2022, 07:05 IST/BST

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