Mortgage approvals in the Republic of Ireland reached their highest monthly levels in at least 15 years in July.
That’s according to the latest figures from Banking & Payments Federation Ireland (BPFI) which found that first-time buyers continued to drive approvals, accounting for 57.2% or 3,575, of the 6,253 mortgages approved during the month, while while mover purchasers accounted for 1,255 (20.1%).
The total number of approvals for July was 14.4% higher than the same month in 2025, while it was also up 11% on June.
Those remortgaging and switchers made up one fifth of all approvals - which was a 71.6% rise on last year.
Mortgages approved in July were valued at €2,037 million – of which first-time buyers accounted for €1,180 million (57.9%) and mover purchasers for €482 million (23.7%).
The value of mortgage approvals rose by 9.3% month on month and by 15.0% year-on-year.
BPFI Chief Executive Brian Hayes said: “The figures show continued growth in mortgage approval activity in July with volumes up over 14% year on year to 6,253. The value of approvals also exceeded €2 billion, up 15% on the same month last year. These are the highest monthly levels since the data series began in 2011, although it’s worth noting that mortgage approval activity typically peaks between May and July each year.”
Looking more closely at customer segments, he continued: “First-time buyers continued to drive activity, accounting for more than 57% of approval volumes and reaching a new high of 3,575 approvals, valued at over €1.18 billion. Mover purchase activity also grew with 1,255 approvals valued at €482 million, the highest monthly volume since July 2021 and the highest value on record. Meanwhile, switching activity increased sharply, rising by more than 71% in volume terms and over 81% in value terms year on year.”
Mr Hayes concluded: “Looking at the annualised figures, there were 55,307 mortgage approvals in the twelve months to July 2026, valued at €17.9 billion. This represents a moderate increase on the twelve months to June 2026, with volumes up 1.44% and values up 1.51%. Taken together, the figures point to continued momentum in the mortgage market, with first-time buyers remaining a key driver and switching activity adding further to the lending pipeline.”
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