Mortgage approvals in Ireland reached their highest monthly level since records began in 2011 in July, with first-time buyers continuing to account for the largest share of activity, according to new figures from Banking & Payments Federation Ireland (BPFI).
A total of 6,253 mortgages were approved during the month, marking a 14.4% increase compared with July 2025. First-time buyers accounted for more than half of all approvals, with 3,575 mortgages approved for people buying their first homes.
The figures point to continued strength in demand from prospective homeowners despite ongoing concerns about housing supply and affordability across Ireland.
Mortgage switching and remortgaging activity also recorded a significant increase. Borrowers in this category accounted for around one-fifth of all approvals in July, representing a 71.6% rise compared with the same month last year.
The total value of mortgages approved during July exceeded €2 billion, up 15% from a year earlier.
BPFI chief executive Brian Hayes said the monthly figures represented the strongest level recorded since the organisation’s mortgage data series began.
“These are the highest monthly levels since the data series began in 2011,” Hayes said, while noting that mortgage approval activity normally reaches its strongest point between May and July each year.
Looking at the 12 months to the end of July, a total of 55,307 mortgages were approved across Ireland, with a combined value of €17.9 billion.
The annualised figures also showed that the mortgage market continued to expand during the latest period. Compared with the 12 months to June 2026, approval volumes increased by 1.44%, while the total value of approvals rose by 1.51%.
Hayes said the figures showed that activity in the mortgage market was continuing to build, with first-time buyers remaining an important source of demand.
“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,” he said.
The rise in approvals comes as prospective buyers continue to navigate Ireland’s competitive housing market. The strong contribution from first-time buyers suggests that demand for home loans remains firm, while the sharp increase in switching and remortgaging indicates that existing borrowers are also becoming more active.
Although July is traditionally a busy period for mortgage approvals, the latest figures underline the scale of lending activity in the Irish market. The increase in both the number and value of approvals suggests that mortgage demand remained strong through the summer.
