Value of average mortgage approval increases by €18,000 in a year

The Banking and Payments Federation, Ireland (BPFI) said this is the fifth straight month in which the combined value of all mortgages rose in annual terms across all segments, reflecting rising housing prices

Banking and Payment Federation Ireland chief executive Brian Hayes: 'January saw the first year-on-year decline in first-time buyer approval volumes since June 2024.'

The value of the average mortgage approval has increased by approximately €18,000 in the 12 months to the end of January, new data from the Banking and Payments Federation, Ireland (BPFI) shows.

During January this year, there were 3,395 mortgage approvals granted worth a combined €1.02bn. These include mortgages for first-time buyers, mover-purchasers, residential investment letting (RIL), as well as those switching mortgages or getting a top-up.