New figures from the Central Bank show that Ireland had the second highest mortgage rates in the euro area in January, coming just after Greece. The Central Bank said the average interest rate on new Irish mortgages was 2.76% in January, up from 2.69% in December but down three basis points on the same time…
Tag Archives: mortgage costs
Residential development commencements jumped 40% last year compared with 2020, and were 19% higher than pre-pandemic levels in 2019 – according to new figures from Deloitte Ireland. The data shows that commencement notices were lodged on 24,304 units last year, in residential schemes of more than 20 units. However, Deloitte estimates that around 6,000 units…
Mortgage approvals fell in January when compared to the previous month, but were higher year-on-year, according to data from the Banking Payments Federation of Ireland. There were 3,621 mortgages approved last month, down 6.1% on December but 7.9% higher than in January 2021. The total value of the month’s approvals stood at €932m, which was…
New analysis shows that the country’s stock of houses available for sale is now at the lowest level on record. The analysis from Sherry FitzGerald shows there were only 14,400 second-hand properties listed for sale nationwide in January. The estate agents said this represents a 6.7% fall over the past twelve months, with over 1,000…
Ireland has once again risen to the top of the league table in Europe when it comes to the interest rates that we pay on our mortgages. The average first-time buyer here pays about €200 more per month than their eurozone counterparts on a similar sized mortgage. However, believe it or not, we’ve led a…
Ireland once again has the highest mortgage interest rates in the euro zone, new figures from the Central Bank show. The average interest rate on new Irish mortgage agreements stood at 2.69% in December, compared to euro area average of 1.29%. Ireland is followed by Greece at 2.55% and Latvia at 2.26%. Finland has the…
Over 43,000 personal loans for home improvements were drawn down last year, up almost 25% on the previous year. New figures from Banking and Payments Federation Ireland reveal that these loans were worth €462 million. The average home improvement loan was €9,748 in the final quarter of 2021, down from €10,899 on the fourth quarter…
The design and calibration of the mortgage lending rules need to be amended, an organisation representing the property industry here has argued. Property Industry Ireland (PII) claimed the current measures are outdated and need to be changed to reflect buyers’ what a household can afford to spend, not what their income is. The argument is…
Last year saw the highest number of mortgage drawdowns since 2009, worth a total value of €10.5 billion. 43,994 mortgages were drawn down in 2021, a 9.4% increase on the previous year. Figures from Banking and Payments Federation Ireland show the value of mortgage drawdowns last year was the highest since 2008, when the financial…
The number of residential property transactions increased by almost 19% to 44,110 in the 12 months to October 2021, according to the latest Residential Buildings Report published by GeoDirectory and EY. It reveals that over 16% of all property transactions were for newly built homes, which was down compared to the previous year. The average…
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