Average first-time buyer mortgage up nearly €25,000 in the last year

Chief executive of the BPFI Brian Hayes there were 45,774 mortgage drawdowns in the 12 months ending in September valued at €14.1bn.

The value of the average mortgage drawn down by first-time buyers increased by nearly €25,000 during the period July to September compared to the same time last year as house prices continue to soar, new data from the Banking and Payments Federation, Ireland (BPFI) shows.

During the third quarter, there were 12,750 mortgages drawn down worth a combined €3.974bn. These figures include first-time buyer mortgages, mover-purchasers, remortgaging or switching, as well as top-up mortgages.