Mortgage lending up by over 10%

The volume of new mortgage lending increased by over 10%, on a year-on-year basis, during the third quarter of the year — the first time any quarter has shown an annualised rise for six years.

New home-loan figures — jointly issued by the Irish Banking Federation (IBF) and PwC — show a 10.4% annualised increase in the number of new mortgages issued between the beginning of July and the end of September. This marked the first year-on-year increase in mortgage lending since the third quarter of 2006.

When compared to the preceding three month period, the increase in third quarter lending was 23.5%.