Househunters borrowing €100,000 more than they did a decade ago

Rapid rise in house prices leading to major increases in mortgage values

The value of mortgages approved last month jumped by more than 13% compared to a year ago.

The average mortgage approved by Irish banks has increased by €100,000 in the past ten years new figures show.

New figures from the Banking & Payments Federation Ireland (BPFI) show the average value of a mortgage approved last month was €276,635. This compares to the average in July 2012 of €177,455.