Davy Research

Irish economy

Revising up our forecasts for Irish mortgage market as lending surges in Q1 2017

DAVY VIEW

New Banking and Payments Federation Ireland (BPFI) data show mortgage lending of €1.4bn in Q1 2017, up 39% on the year. Mortgage approvals in March rose to a fresh record high of €783m, up 103% on the year. In the past 12 months, mortgage lending has equalled €6bn, with approvals of €7.8bn. Hence, we have revised up our forecast for Irish mortgage lending in 2017 to €7.5bn, of which €6.4bn is accounted for by house purchase loans.

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