INE: Mortgages Increase By 14% In November 2014

28 January 2015 – Expansión

15,900 mortgages were taken out during the penultimate month of the year, an increase of 14.2% compared with November 2013. The statistic completes six consecutive months of double-digit increases.

The number of home mortgages recorded in the property registry amounted to 15,900 last November, up by 14.2% with respect to the same month in 2013, according to statistics published today by the National Institute of Statistics (INE). The data comes from public deeds signed during the previous months.

With the year-on-year rise in November, home mortgages have now experienced double-digit increases in each of the last six consecutive months, after the rise of almost 19% in June, 28.8% in July, 24% in August, 29% in September and 18% in October.

The average size of the home mortgages taken out amounted to €104,817 during the penultimate month of the year, which represented a decrease of 1.7% compared with the same month in 2013, whilst the total amount of capital loaned increased by 12.2% year-on-year, to exceed €1,666 million.

In monthly terms (November 2014 versus October of the same year), the number of home mortgages fell by 10.1%, the largest decline during that month since 2010, whilst the total amount loaned experienced a monthly decline of 5.6%, its greatest drop in the last five years.

During the first eleven months of 2014, the number of home mortgages decreased by 0.2% with respect to the same period in 2013, although the total amount of capital loaned increased by 5.6% and the average size of mortgages rose by 2%.

By autonomous region, the greatest number of home mortgages were reported in Andalucía (3,183), Madrid (2,565), Cataluña (2,264) and Valencia (1,743) in November. Meanwhile, the most capital was lent in the regions of Madrid (€382.9m), Andalucía (€288.7m) and Cataluña (€261.1m).

Original story: Expansión

Translation: Carmel Drake

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