Strong FTB demand lifts mortgage figures
Figures from the main banks show that mortgages worth a total of almost €1.8 billion were approved in July – the highest figure since the data series began in 2011.
Banking Payments Federation Ireland (BPFI) said that its members approved 5,467 mortgages last month, with just over 61% of these for first-time buyers (FTBs) and almost 21% for mover purchasers.
The number of mortgages approved rose by 12% compared with June and by 2.9% compared with the same period last year.
Approval values rise 10%
Mortgages approved in July were worth just over €1.77 billion – of which FTBs accounted for 62% and mover purchasers for 24%.
The value of mortgage approvals rose by 13.7% month-on-month and by 10% year-on-year.
Re-mortgaging and switching jumped by more than 27% in volume terms year-on-year and by almost 50% in value in the same period.
Help to Buy figures up
BPFI chief executive Brian Hayes said that the 3,356 FTB approvals valued at €1.1 billion in July were the highest FTB volume and value levels since the BPFI began collecting the figures.
He described FTB demand as remaining “very strong”, with Revenue reporting that Help to Buy applications reached almost 26,000 in the first seven months of the year – 47% more than in the same period of 2024.
Over the same period, Help to Buy claims exceeded 5,500 – up 14% year-on-year.