Banking

Mortgage drawdowns increased to €14bn last year, the highest level since 2008

Mortgage market grew to its highest level in over a decade, according to new figures from the Banking & Payments Federation of Ireland (BPFI)

Brian Hayes, chief executive of the BPFI, said he expects housing and mortgage demand to remain strong in 2023. Picture: Fergal Phillips

The Irish mortgage market grew by more than a third last year to its highest level in over a decade, new figures published by the banking industry show.

Irish consumers drew down almost 53,000 mortgages in 2022 with a combined value of €14.1 billion, which is up 34 per cent on the previous year. This is the highest level for new mortgage drawdowns since 2008, according to the Banking & Payments Federation of Ireland (BPFI), ...