Irish Mortgage Lending Reaches Record High as First-Time Buyer Loans Surge

Dublin: Ireland’s mortgage market has reached record levels, with both mortgage lending and approvals climbing to their highest levels on record, according to new figures from the Banking and Payments Federation Ireland (BPFI).

The latest data shows that more than 21,000 mortgages, worth almost €6.8 billion, were drawn down during the first half of 2026, reflecting continued strong demand in the housing market.

Record Lending for First-Time Buyers

Mortgage lending to first-time buyers (FTBs) recorded its strongest performance since comparable records began in 2003.

The total value of mortgages drawn down by first-time buyers increased by 10.5% to €4.1 billion during the first six months of the year, marking the highest half-year figure ever recorded.

The report also found that the value of mortgage approvals over the 12 months to June 2026 reached €17.6 billion, the highest level since the BPFI’s approval data series began in 2011.

Brian Hayes, Chief Executive of the Banking and Payments Federation Ireland, said the latest figures demonstrate the continued strength of the mortgage market across both banking and non-banking lenders.

He described the performance over the past six months as a very positive indicator for the sector.

Average Mortgage Values Continue to Rise

According to the BPFI figures:

• The average mortgage drawdown for first-time buyers now stands at €325,000.

• The average mortgage for home movers has reached €390,000.

The increase reflects continued growth in residential property prices across the country.

House Prices Expected to Keep Rising

Separately, a new report by the Society of Chartered Surveyors Ireland (SCSI) forecasts that national house prices will increase by an average of 5% over the next 12 months.

The latest projection is higher than the 4% increase forecast by the organisation six months ago, indicating expectations of continued upward pressure on property prices.

Brian Hayes said the Central Bank’s macroprudential mortgage lending rules have played an important role in maintaining stability in the housing market despite sustained house price growth over the past decade.

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