First-time buyers dominate Irish mortgage market with record Q3 activity

The Banking and Payments Federation Ireland reported that first-time homebuyers secured 8,164 mortgages in the third quarter, marking the highest Q3 volume since 2008. Across all borrowers, 14,217 mortgages totalling €4.6 billion were drawn down, reflecting a 13% rise in number of loans and a 15.7% increase in total value versus the previous year. First-time buyers remained the leading segment, contributing the greatest share of both loan count and amount.

Re-mortgaging and switching activity also surged, up more than 40% year-on-year. The rise was supported by three state-backed programmes—Help to Buy, First Home and Local Authority Home Loan—which continue to stimulate demand. However, a recent survey by the Society of Chartered Surveyors Ireland highlighted that couples earning €113,000 with a 10% deposit still face sizable affordability gaps in Dublin-adjacent counties.