Authorities in Ireland have approved an average of 2,752 mortgages per month from September to November, official statistics show on Friday.

The number of mortgages having been approved registered a year-on-year increase of 52.8 percent and month-on-month increase of 6.6 percent, the Banking and Payments Federation Ireland (BPFI) said in a report.

The BPFI said the average monthly value of mortgages in the period was 502 million euros (614 million U.S. dollars), and 95 percent of them were used to buy houses.

The value of mortgage approvals increased by 56.4 percent year-on-year and by 7.7 percent month-on-month, according to the report.

Meanwhile, the year to the end of November has seen some 23,796 mortgage approvals, up 42.2 percent compared with the same period in 2013, according to the federation.