Mortgage lending growth highest in 9 years

Updated / Friday, 4 Jan 2019 12:19

Annual growth was €964 million or 1.3%

Mortgage lending recorded its highest growth rate since 2009 during the month of November, according to figures published by the Central Bank, continuing a trend of positive lending seen in recent months. 

Net mortgage lending was €131 million in November, while annual growth was €964 million or 1.3%.

Banks held €12.3 billion more in household deposits than loans at the end of November. This means that Irish household deposits are net funders of the banking system, with an overall loan-to-deposit ratio of 0.88.

At the same time, total loans to households declined by 1.1% in the year to the end of November. 

The Central Bank said consumer lending was €22 million in November, and new lending exceeded repayments by €233 million.