Average mortgage below €200k

THE average mortgage has fallen below €200,000 for the first time since records began in 2005.

New data has revealed that the average size of a mortgage in the last quarter of this year was €192,445, down from a peak of €283,540 in the first quarter of 2008.

Figures for the quarter showed that new mortgage lending was €624 million, which is less than half the amount lent out in thecorresponding quarter of last year.