Mortgage update Q4 2024
Mortgage market bounces back to pre-dip level, banks lose market share
The mortgage market has recovered at lightning speed after the mid-2022 shock. There were 23.3% more mortgages taken out in the fourth quarter of last year than the year before. This accounted for €42.7 billion in completed mortgages and is 16.4% more than in Q3 and 34.4% more than in the same period a year earlier.
The average mortgage loan size is still rising, but that is no longer true for first-time buyers. Their average mortgage remained the same in size (€390,000) as a quarter earlier. The mortgages of existing homeowners did increase. They borrowed on average 2.6% more than a quarter earlier and arrived at an average mortgage of €545,162. This is a record and indicates a slight decline in the position of first-time buyers compared to existing homeowners moving onto their next home.
Read this and more in the new quarterly mortgage update.