Mortgage approvals down across all groups, except FTBs

The latest figures from Banking and Payments Federation Ireland show that just over 3,200 mortgages were approved in January - down almost 12% on the same month last year.1,991 mortgages were approved for this group, up almost 5% on January 2023.Meanwhile, the number of mortgages approved for mover purchasers dropped over 17% to just 680.

"While we traditionally focus on the supply of newly built homes, with demand for housing so strong, we need the secondhand home supply to increase as well," he added. Overall, mortgage approvals in the month of January were valued at €919 million, down over 9% on the same time last year. First time buyers account for €577 million, while mover purchasers for €227 million and switchers for €79 million.

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