The average mortgage value for first-time buyers has reached a record level of just under €290,000, according to new figures from Banking and Payments Federation Ireland (BPFI).
This marks the highest value recorded since BPFI began tracking this data in 2003, underscoring the rising financial challenges for those entering the property market.
Similarly, home mover mortgage values have hit a record average of €329,873. Despite these increasing values, mortgage volumes remain significantly below the peak levels observed in the mid-2000s.
An exception to the trend is evident in first-time buyer (FTB) drawdowns for second-hand or existing properties. This segment is approaching levels last seen during the peak in the first half of 2006, when drawdowns reached 7,726.
Rising property prices are a key driver of these higher mortgage values. Between the first half of 2019 and the same period in 2024, the national median property value for first-time buyers surged by €88,000 to reach €360,000.
The upward trend is even more pronounced for home movers, with the median property value rising by €109,000 over the same five-year period to a current median of €470,000.