First-time buyers and home movers are paying the highest mortgages since records began a new housing report has claimed.
It also found the properties they are buying have increased in value by about €88,000 between H1 2019 and H1 2024 to €360,000.
The latest Mortgage Market Profile Report H1 2024 by Banking & Payments Federation Ireland (BPFI) reveals the median home mover property value increased by €109,000 to €470,000 over the same five-year period.
The report found FTBs were shifting away from second hand properties and going all out to buy more expensive new properties.
The median FTB property values increased by €100,000 or more between H1 2019 and H1 2024 in Wicklow, Galway, Limerick and the Midlands, where there has been a clear shift in activity from second hand to new properties.
This latest report looks at the profile of borrowers, their loans and property types on a national and regional basis.
It found that …