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Increase in Home Mortgages in November

21,698 new home loans taken in November
21,698 new home mortgages taken in November

21,698 new home loans taken in November

The number of new mortgage loans taken out in November 2018 was 29,709, representing a fall of 1.6% year-on-year. The average amount of capital loaned was €167,486, reflecting an annual decrease of 4.4%.

In November, the number of new mortgage loans taken for the acquisition of a property increased by 2.6% year-on-year, to reach 23,181 loans. This was due in part to the increase in loans for the purchase of a residential property which increased by 3.5% to reach 21,698 loans, and also the decrease in loans for other types of property (-8.5%).

In the case of housing, the average capital borrowed was €133,812, representing an annual decrease of 1.8%.

The average amount of the mortgages taken for the purchase of other types of property in November was €136,954. This represents a 2.6% fall year-on-year.

The number of new loans taken to finance construction projects showed an annual decrease of 1.2%, standing at 596 operations, according to figures from the General Council of Notaries. The average amount of these loans reached €523,205, reflecting a year-on-year fall of 8%. The average amount of loans taken for the construction of a residential property fell by 18.7% to €258,880. In this case, there were 462 operations.

The percentage of home purchases which were financed through a mortgage stood at 45.9%. Additionally, in this type of purchase with financing, the average amount of the loan was 76.7% of the property value.