First-time buyers are drawing down mortgages at a level not seen since the boom

One difference observed during the year was an increase in the number of FTBs purchasing second-hand apartments coming on the market due to the exodus of landlords

Undeterred by interest rate hikes and house price increases, first-time buyers (FTBs) have dominated the mortgage market in 2023 — drawing down mortgages at a level not seen since the boom.

The most recent Banking & Payment Federation Ireland report reveals that FTBs have been drawing down 470 mortgages, valued at €131m per week, since the start of the year.