Mortgage approvals rose again in April, according to new data from Banking and Payments Federation Ireland.
A total of 4,729 mortgages were approved in the month - up 5.5% compared to March and 0.5% higher than in April 2025.
Just over 60% - or 2,899 - of those were to first time buyers, which was 3.4% higher in the month but down 0.3% year-on-year.
Despite that yearly decline in the number of mortgages for first-time-buyers, speaking on RTÉ's Morning Ireland BPFI's CEO Brian Hayes expressed confidence that there's a positive uptick in delivery of new homes.
"It's a very strong first-time buyer market and there's significant momentum within that market."
The number of movers getting approval rose by 5.3% in the month to 818, though this figure was 3.2% lower compared to the same month of last year.
Meanwhile the numbers re-mortgaging or switching jumped 23.4% in the month, and 6% in the year, to 616. This reflected the rush by some to lock down a lower fixed rate before the European Central Bank begins to raise rates once again.
"In a scenario where there's market expectation of horizon interest rates by the ECB, obviously, people are looking for the best rates", BPFI's chief executive said.
Mr Hayes added, however, that there is no expectation that mortgage rates would go as high as in 2022 during Russia's invasion of Ukraine.
"We'll have to wait and see what they do, but we're not in a scenario that was there four or five years ago... when we saw interest rates rise from zero to 4.5% over 18 months."
In value terms the mortgages approved in April were worth a combined €1.55 billion - up 6.9% compared to March and 3% higher year-on-year.
It means the average mortgage approved in the month was worth around €327,130, compared to €319,235 in April 2025. That is a 2.5% increase year-on-year.
The increases in value and volume were roughly in-line among most categories. The bulk of the mortgage value went to first time buyers, who accounted for €966m of the total approval figure.
It meant the approval secured by the average first time buyer was €333,218, compared to €330,354 in April 2025.
However the average amount approved for those remortgaging or switching saw a more notable increase.
The average approval in this category was worth €305,195 in April 2026, compared to €277,108 a year before.
