Average first-time mortgage value up over 8%

Figures come amid strong demand, limited supply and uncertainty in the rental market

The average first-time buyer mortgage now stands at just under €320,000. 

The value of the average first-time mortgage approval has increased by over 8% in the last year as the volume of approvals hits record highs, new data from the Banking and Payments Federation, Ireland (BPFI) shows.

In the year to the end of November, the average first-time buyer mortgage grew by €24,000 to €319,161 amid strong demand, limited supply and uncertainty in the rental market.