Mortgage drawdowns for first-time buyers hit highest level since 2007

Average first-time mortgage on new properties increased by 1.6% year-on-year to almost €322,000, the BPFI found

BPFI said more than 43,000 mortgages were drawn down in 2024, valued at almost €12.6bn, with more than 51,300 mortgages being approved in the period

Mortgage drawdowns for first-time buyers hit their highest level since the financial crash almost 18 years ago, new figures from the Banking and Payment Federation Ireland (BPFI) show, with more than 26,000 mortgages being drawn down.

Drawdowns from first-time buyer mortgages totalled €7.8bn in value, the BPFI added, with this segment remaining the largest by both volume and by value.