Mortgage drawdowns hit almost €4 billion in third quarter – BPFI
The number of mortgages drawn down during the third quarter of the year increased by 7.7% compared to the same time in 2024, new figures from Banking and Payments Federation Ireland show today.
The value of those mortgages also increased, rising by 16.6% year-on-year.
In its latest report, Banking and Payments Federation Ireland said a total of 12,570 mortgages were drawn down between July and September, valued at €3.974 billion.
BPFI said that first-time buyers remained the single largest segment of the market by volume (59.6%) and by value (60.8%).
It noted that these were the highest annualised FTB volumes since the fourth quarter of 2007 and the second highest values since the data series began in 2003.
Today’s figures also show that re-mortgage/switching volumes and values increased by 35% and 57.9% year on year respectively in the third quarter.
Meanwhile, a total of 4,761 mortgages were approved in September, a monthly increase of 5% and an annual rise of 7.1%.
Mortgages approved in September 2025 were valued at €1.486 billion – of which FTBs accounted for €916m (61.6%) and €339m by mover purchasers (22.8%).
Brian Hayes, chief executive of BPFI, said the latest data shows that mortgage activity in Ireland remains robust with mortgage drawdown volumes up 7.7% year on year to 12,570 in the third quarter of this year.
“Looking at property status, new properties (including self-builds) accounted for over a third (35.8%) of home mortgage drawdowns in Q3 2025, up from 31.6% in Q3 2024,” Mr Hayes said.
“Home mortgage drawdown volumes and values on new properties increased year on year by 17.9% and 25.2%, respectively, over the same period, while the value reached over €1.2 billion, the highest Q3 value since 2007,” he said.
“This was largely driven by an increase in FTB mortgages on new properties, up by 21.8% in volume to 3,017 and by 29.9% in value to more than €1 billion. In contrast, mover purchasers accounted for just 521 new property mortgage drawdowns valued at €193m in the same period,” he added.
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