NI mortgage lending rises over second quarter of 2013, says CML

Houses in Belfast The Council of Mortgage Lenders said first-time buyers were "the key driver" in the NI market

Related Stories

There is another indicator that the housing market in Northern Ireland is picking up, with new figures showing an increase in mortgage lending.

A total of 2,400 loans worth £210m were advanced to borrowers in Northern Ireland in the second quarter of 2013, a rise of 20% on the previous quarter.

Most of the mortgages were for first-time buyers. The 1,500 loans to them is the highest quarterly total since 2009.

The statistics have been released by the Council of Mortgage Lenders (CML).

The council said first-time buyers were "the key driver" in the Northern Ireland housing market.

Brian McCormick, of CML in Northern Ireland, said: "House prices in Northern Ireland are starting to stabilise and in the second quarter we did not see a year-on-year fall which is a very positive sign for the future, alongside lending increases. "

On average, first-time buyers in Northern Ireland borrowed £71,000.

The CML figures also showed a return to growth in another sector of the market - home movers.

However home movers in Northern Ireland only accounted for 42% of the house purchase market, lower than the 55% UK average.

More on This Story

Related Stories

More Northern Ireland stories

RSS

Features

  • Baby being handed overFraught world

    The legal confusion over UK surrogate births


  • Bad resultsBlame game

    The best excuses to use when exam results don't make the grade


  • Police respond to a shooting in Santa MonicaTrigger decision

    What really happens before a police officer fires his gun?


  • Child injured by what activists say were two air strikes in the north-eastern Damascus suburb of Douma (3 August 2014)'No-one cares'

    Hope fades for Syrians one year after chemical attack


  • Lady AlbaGoing Gaga Watch

    Social media's use ahead of the independence referendum


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.