Delays in home completions impacting growth in the mortgage market

The volume of mortgage drawdowns between January and June is down 9% 

According to the CSO, 12,370 housing units were completed in the first half of this year compared with 13,923 units during the same period in 2023, a 9% decrease over the period. 

Delays in housing delivery could have an impact on growth in the mortgage market, the Banking and Payments Federation, Ireland (BPFI) has said, as the volume of mortgages drawdown fell 9% during the first six months of the year, while the number of home completions also declined.

In its latest Housing Market Monitor, the BPFI said between January and June there were 18,529 mortgage drawdowns valued at €5.2bn — this is down 9% in volume terms and down 7% in value.