Median mortgage for first-time buyers up €24,000, while median income rises €4,000

The median property value during the first half of this year stood at €357,000 for first-time buyers purchasing an existing property

Median mortgages values for first-time buyers looking to buy an existing property increased by €24,000 in the year to the end of June 284,000 while loans to the same segment looking to buy a new property increased by €20,000 to €340,000. File photo

The median household income of first-time buyers looking to get a mortgage increased by nearly €5,000 in the year to the end of June as median mortgage values increased by over €20,000, a new report by the Banking & Payments Federation Ireland (BPFI) shows.

According to the organisation's mortgage market profile for the first half of the year, the median household income for first-time buyers looking to buy an existing property stood at €84,000 a year — up from €79,000 during the same period in 2024.