Housing

First-time buyers continue to dominate market as mortgage approvals top 30,000

The number of overall mortgage approvals fell by 4.5 per cent month-on-month and by 18.2 per cent compared with the same period last year

First time buyers accounted for €820 million of that sum while mover purchaser mortgages were valued at €346 million. Picture: Getty

The number of first-time buyer mortgage approvals has exceeded 30,000 for the first time in the 12 months to August, according to the Banking & Payments Federation Ireland (BPFI).

A total of 4,534 mortgages were approved last month, of which 2,829 were first-time buyers and 1,029 were mover purchasers.

The number of mortgages approved last month fell by 4.5 per cent month-on-month and by 18.2 per cent compared with the same period last year.

The ...