The number of mortgages being approved and drawn down continue to rise, according to the latest figures from Banking and Payment Federation Ireland.
In the month of June, 5,203 mortgages were approved, an increase of over 11% on the previous month and a rise of almost 130% on the same month last year.
First-time buyers were approved for 53% of the total volume of these new mortgages, while mover purchasers accounted for just over 24%.
The figures from the BPFI also reveal that mortgages approved in June 2021 were valued at €1.276 billion, up 10% on the previous month and 138% on June 2020.
The report also reveals a rise in the number of new mortgages drawn down in the second quarter of the year.
9,625 new mortgages to the value of €2.2 billion were drawn down during this period - up 45% in volume and 52% in value on the same time last year.
When compared with the previous quarter, this represents an increase of 5.9% in volume and 4.1% in value.
The figures show that first-time buyers remained the single largest segment by volume, at 50.9%, and by value at 51.2%.
New properties, including self-builds, accounted for 27.8% of property purchase or build mortgages in the second quarter of the year, down from 29.1% during the same quarter in 2020.
The figures show that the value of FTB and mover purchase mortgages on secondhand properties both reached their highest second quarter levels since 2008.
