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FTB surge leads April mortgage growth
Pic: RollingNews.ie

24 May 2024 / property Print

FTB surge leads April mortgage growth

Figures from the main banks show strong growth in mortgage activity in April, led by first-time buyers (FTBs).

Banking Payments Federation Ireland (BPFI) said that banks approved 4,446 mortgages during the month, with FTBs accounting for almost two-thirds of the total.

The number of mortgages approved rose by 17.7% compared with March this year, and by 14% compared with the same period last year.

Mortgages approved in April were worth just over €1.32 billion, with two-thirds of this amount again linked to FTBs.

FTB share second highest

The value of mortgage approvals rose by 19.9% month-on-month and by 18.4% year-on-year.

Brian Hayes (BPFI chief executive) said that the number of FTB mortgage approvals grew at an annual rate of 17% in April, adding that this sector’s 63.6% share of the market in April was the second highest in the history of the data series.

“On an annualised basis, there were 30,776 FTB approvals in the 12 months ending April 2024, also the second-highest level since the data series began,” he added.

Gazette Desk
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