The increase in mortgage approvals reflects a strong market, with 5,313 mortgages approved in July, a notable 18.6% rise from June and 12% year-on-year.
BPFI Chief Executive Brian Hayes emphasized the robust mortgage activity, stating that mover-purchaser activity rose to the highest value since records began, indicating a vibrant market.
The data from the BPFI shows that first-time buyer approvals and values reached record levels, surpassing €1bn for the first time, highlighting significant growth in this sector.
The overall strong performance in mortgage approvals — including a 22.6% increase in remortgage and switching activity — demonstrates a dynamic response to current financial conditions.
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