The number of mortgages approved last month was down 17% on the figures for July.
The latest Banking and Payments Federation Ireland (BPFI) Mortgage Approvals Report also shows that there was 2.5% reduction in approvals in August compared to the same month last year.
The report shows 4,536 mortgages were approved in August 2025.
First-time buyers (FTBs) accounted for 2,822 or 62.2% of the mortgages, while mover purchasers accounted for 825 or 18.2%.
The total value of the mortgages approved in August was €1.456 billion, which was 17.8% down on July, but up by 4.1% year-on-year.
FTBs accounted for €920 million or 63.2% and mover purchasers for €318 million or 21.8%.
The chief executive of the BPFI said mortgage values on an annualised basis reached €16.7 billion in the twelve months to the end of August, which he said is "the highest level since the data series began in 2011."
Brian Hayes said the annualised value of FTB approvals "also reached a new high" at almost €10.4 billion.
The BPFI report shows that re-mortgage and switching activity rose by 13.8% in volume terms year-on-year and by 30.4% in value in the same period.
Mr Hayes said mover purchase activity "continued to contract, with volumes down by 16.8% year on year in August."
However, he said the average mover purchase mortgage value reached its highest level since the data series began at €384,887, almost €31,000 more than in August 2024.
He also said the average FTB mortgage approval increased by €19,000 over the same period to €325,934 in August 2025.
"These increases broadly reflect housing price inflation," added Mr Hayes.
