- Wicklow was the fastest growing region for FTB mortgages, with volumes jumping by 54% between 2021 and 2025, while volumes in Dublin were up 26% and by 30% in Cork over the same period.
- For FTBs buying or building new homes, Wicklow again recorded the fastest growth, with volumes more than doubling between 2021 and 2025, followed by Cork, Limerick and the Midlands at over 80%.
- Mover purchase activity declined in every region, with volumes down by more than 20% in Limerick, Meath and the West.
- Median FTB mortgage values rose by about €80,000, or 34%, to about €316,000 between 2021 and 2025.
Friday 12th June 2026 – The latest Mortgage Market Profile Report H2 2025, published today by Banking & Payments Federation Ireland (BPFI), shows that first-time buyer (FTB) mortgage activity increased across all regions of the country, with particularly strong growth in the number of FTB mortgages secured on new-build homes. In seven of the twelve Mortgage Market Profile regions, FTB volumes for new homes grew by more than 50% between 2021 and 2025. The fastest growth was recorded in Wicklow, where FTB volumes on new homes more than doubled (up 122%). Volumes rose by more than 80% in Cork, Limerick and the Midlands. By contrast, over the same period, mover purchase activity declined in every region, with Limerick, Meath and the West all seeing mover volumes decline by more than 20%.
This latest report in the series, which looks at the profile of borrowers, their loans and property types on a national and regional basis, also shows that the average home (FTB and mover) mortgage value reached new peaks in 2025, with the median FTB mortgage value up by about €80,000 (34%) from 2021 to about €316,000 in 2025. While the average FTB mortgage on a new property in 2025 reached €337,000, the average value of an FTB mortgage on a second-hand property exceeded €300,000 for the first time at €307,729.
Other key findings from the report show:
- The national median FTB property value increased by about €100,000 (33%) between 2021 and 2025 to about €399,000.
- The median FTB property value rose by about half in four regions including the Border (up by 52% or €118,000), Midlands (51%), Limerick (49%) and West (48%), over the same period.
- The national median basic household income of FTB borrowers, which includes the incomes of all borrowers on the mortgage, rose by 20% or about €15,000 to €89,000 between 2021 and 2025.
Commenting on the findings, Ali Ugur, Chief Economist, BPFI said:
“Today’s report shows that 2025 was a strong year for FTB mortgage activity right across the country, while mover activity weakened in every region. Wicklow was the fastest growing region for FTBs, with FTB mortgage volumes jumping by 54% between 2021 and 2025, while volumes in Dublin were up 26% and by 30% in Cork over the same period. By contrast, each region recorded a decline in mover purchase volumes between 2021 and 2025 with Limerick, Meath and the West all showing a decline of more than 20% in mover volumes.”
Looking more closely at activity in the new property market, Mr Ugur added: “The strongest growth has been in FTB mortgages for new-build homes. In seven of the 12 Mortgage Market Profile regions, FTB volumes for new homes grew by more than 50% between 2021 and 2025. Wicklow saw the fastest growth, with FTB volumes for new homes more than doubling (up 122%), while volumes jumped by more than 80% in Cork, Limerick and the Midlands. By contrast, FTB volumes on second-hand properties fell in four regions between 2021 and 2025: Cork, the Midlands, the West and the Border. Only four regions (the four eastern counties of Dublin, Meath, Kildare and Wicklow) recorded growth of more than 1% over the same period.”
Median FTB property values and incomes have increased sharply since 2021
He continued: “The national median FTB property value increased by about 33%, or €100,000, between 2021 and 2025 to about €399,000. Similarly, the median FTB mortgage value rose by about €80,000 (34%) to about €316,000. Meanwhile, the national median basic household income of FTB borrowers, which includes the incomes of all borrowers on the mortgage, rose by 20% or about €15,000 to €89,000 in the five years between 2021 and 2025.”
Mr Ugur concluded: “Today’s report shows that first-time buyer activity remains strong, particularly for new homes, but the wider market remains subdued. Rising property values, mortgage values and household incomes underline the extent to which affordability continues to shape mortgage activity across the country.”
Regional differences in the mortgage market across the country
The BPFI Mortgage Market Profile Report also provides a wealth of data on the regional breakdown of the mortgage market. Key regional findings from the report for H2 2025 include:
Only 20% of Dublin mortgages were drawn down by FTBs buying or building new properties, the lowest share of any region, while 24% went to movers buying existing properties, the highest of any region.
- Cork was the second largest county market (after Dublin) and increased its share of the national FTB mortgage market by one percentage point between H2 2024 and H2 2025 to 13%, the highest level since H2 2020.
- Almost half of (45%) home mortgages on new properties in Galway were self-builds in H2 2025, down from 59% in H2 2024.
- FTBs buying existing properties accounted for 53% of the home mortgage market in Limerick in H2 2025, the highest proportion of any region and about 3 percentage points higher than in H2 2024.
- Meath recorded the second highest increases in median FTB new property values, mortgage values and basic household incomes between H2 2024 and H2 2025.
- Wicklow recorded the second highest (after Dublin) median property value, mortgage value and basic household income in the mover and FTB Existing segments.
- In Kildare, the median property value of existing properties bought by FTBs exceeded €400,000 for the first time (at €407,000) in H2 2025 while their median basic household income surpassed €90,000 for the first time, reaching €91,000.
- At €260,000, the median mover mortgage values in the Border region was the lowest of any region, while the median basic household income was joint lowest at €104,000.
- In the West, most home mortgages were secured on detached houses/ bungalows, which accounted for 54% of FTB and 79% of mover mortgages in H2 2025.
- In the South and Mid West, more than half (51%) of FTB and 81% of mover mortgages were secured on detached houses or bungalows in H2 2025.
- FTBs accounted for 88% of home mortgages drawn down in the Midlands in H2 2025, the highest share of any region.
- The South East region was the third largest regional home mortgage market, after Dublin and Cork, with 8.3% of FTB and 7.1% of mover purchase mortgage drawdowns in H2 2025.
The BPFI Mortgage Market Profile Report H2 2025 can be downloaded here.
