FTB mortgage values hit record in H1
Figures from the main banks show strong growth in mortgage activity in the first half of this year, led by first-time buyers (FTBs).
Banking Payments Federation Ireland (BPFI) said that 21,232 mortgages worth €6.8 billion were drawn down during the six-month period, representing annual increases of 5.1% in volume and 9.6% in value.
The value of FTB mortgages in the first half rose by just over 10% to a record €4.1 billion.
In the second quarter (Q2) of this year, borrowers drew down 11,795 new mortgages worth almost €3.75 billion.
This represented increases of 7.4% in volume and 11.1% in value on the corresponding second quarter of 2025.
FTBs accounted for around 60% of mortgage drawdowns by volume and value.
FTB record in Q2
BPFI chief executive Brian Hayes said that the FTB drawdowns of €2.3 billion in Q2 were also the highest since the figures began in 2003.
Hayes also noted that new properties accounted for almost 40% of drawdowns in Q2 and hit their highest levels in volume and value terms since 2008 – again driven by FTBs.
There were 5,499 home-mortgage drawdowns on second-hand properties, valued at over €1.8 billion, in Q2.
“In year-on-year terms, drawdown volumes on second-hand properties rose by 2.9% while drawdown values rose by 4.8%. This was the first time since Q1 2025 that the volume of mortgages on second-hand properties had risen in year-on-year terms,” Hayes stated.
June approvals
BPFI also released figures for June, which showed that 5,631 mortgages were approved during the month – 58.7% for FTBs and 18.9% for mover purchasers.
The number of mortgages approved in June was up more than 15% compared with the same month last year.
Mortgages approved in June 2026 were valued at €1,86 billion – of which FTBs accounted for just under 60% and mover purchasers for just over 22%.
The value of approved mortgages in June rose by almost 20% compared with a year earlier.
The June figures also showed a surge in remortgaging and switching activity – up 49% in volume and almost 66% in value over the year.