More than €1.3 billion was extended in new mortgage loans in August this year, marginally down on the amount drawn down the previous month, according to new monthly figures released today by the Central Bank.
The year-on-year growth in borrowing by house-buyers was 27.6 per cent, compared with the record high of 27.8 per cent set in July. August is traditionally the slowest month of the year for house-sales.
Data in the Central Bank's Monthly Statistics also show that the annual growth rate of non-mortgage credit was 20.4 per cent in August compared with the annual growth rate of 20.4 per cent in July.
Irish residents borrowed more than €1.6 billion in August, bringing the total amount of private-sector credit extended by credit institutions in Ireland to €185 billion.
This was significantly lower than the €2.3 billion borrowed by the private sector in the same month last year.
Broken down, lending in August saw the value of overdrafts drop by €372 million, other loans and securities ease down €154 million and repurchase agreements fall €127 million.
Along with the €1.3 billion borrowed for mortgages in August, loans of up to 12 months grew by €437 million and term loans increased by €298 million.
The value of SSIA accounts held among all credit institutions rose by €135 million and now stands at €4.24 billion.