Mortgage drawdown values in Ireland reached almost €6.2bn in the first half of 2025, the highest H1 values since 2008 according to the Banking & Payments Federation Ireland (BPFI).

Average home mortgage H1 drawdown value reached highest semi-annual level on record at €329,444, whilst First-time buyers (FTBs) recorded their highest H1 drawdown volumes and values since 2007 and 2006, respectively, with 11,803 FTB mortgages, valued at more than €3.7bn.

Brian Hayes, Chief Executive of the BPFI, said: “Our latest data shows that there was almost €6.2bn in mortgage drawdowns in the first half of 2025, up 18.7% on the same period last year. Volumes also climbed by 10% in the same period to 20,195. While all customer segments in H1 2025 grew year on year, FTBs continue to dominate, with 11,803 FTB mortgages, valued at more than €3.7bn. Meanwhile, H1 switching activity jumped by 41.9% in volume and 60% in value year-on-year, with the value of switcher mortgages reaching €732m, the third highest H1 level since 2008. This signals a normalisation of switching trends, following a sharp peak in activity in 2022 and subsequent slowdown.”

A total of 4,883 mortgages were approved in June 2025, some 2,920 were for FTBs (59.8% of total volume), while mover purchasers accounted for 992 (20.3%). The number of mortgages approved in June fell by 3.1% month-on-month but rose by 9% year-on-year.