Housing

Mortgage activity hit historic levels of €1bn in April despite slowdown

The first-time buyer segment is now the only group growing in terms of mortgage volume and value

Brian Hayes, chief executive of the BPFI, said that despite the overall slowdown in approvals, mortgage activity remains at “historically high levels with almost €1 billion”. Picture: Fergal Phillips

The slowdown in the mortgage market in April continued, but activity is still at historically high levels, new industry data has shown.

New data released by the Banking and Payments Federation (BPFI) has shown there were 3,899 mortgages approved in April 2023, with 62.3 per cent of new mortgages awarded to first-time buyers.

Between March and April, the number of approvals declined by 13.7 per cent. On an annual basis, mortgages approved in April were ...