Central Bank releases Household Credit Market Report H1 2016

• Household debt sustainability in Ireland continues to improve with both debt-to-income and debt-to-asset levels decreasing. However Irish household indebtedness is high in a European context.
• The value of new mortgage loans increases year-on-year to Q3 2015. This continues the trend from 2014. The majority of new lending goes to first time buyers. 
• The standard variable rate on new lending for PDH mortgages stood at 3.76 per cent in Q4 2015, down from 4.13 per cent in Q1 2015.

The Central Bank today published the latest Household Credit Market Report (PDF 3.96MB). The report collates information from internal and external sources to give an up-to-date picture of developments in the household credit market in Ireland.

The report finds the overall value of mortgages in arrears continues on a downward trend, falling to €18.7bn in Q4 2015. This represents approximately 14.7 per cent of total mortgage balances.

Notes

The report uses data drawn from Central Bank of Ireland Credit, Money and Banking, Retail Interest Rates, Quarterly Financial Accounts, and Mortgage Arrears aggregate statistics, loan-level data collected by the Central Bank of Ireland from the Irish domestic banks, and the Banking and Payments Federation of Ireland.

The published Central Bank datasets are:
• Central Bank of Ireland - Private Household Credit
• Central Bank Quarterly Financial Accounts
• Central Bank Retail Interest Rates Statistics
• Central Bank Mortgage Arrears Data