First-time buyers account for more than one-fifth of the current mortgage market, new figures revealed today.
The data from the Irish Bankers Federation show that more than 100,000 mortgages were taken out in the first six months of the year, totalling €18.6 billion million.
The study also reveals that some 32 per cent of the mortgage market was used by homeowners topping up or changing lenders.
The quarterly figures, launched for the first time in conjunction with the country's leading mortgage lenders, included loan volumes and values on first-time buyers, movers, investments, remortgages, and top up.
Despite first-time buyers accounting for 21 per cent of the market value, the biggest sector was house movers at 28 per cent. Established homeowners topping up their existing mortgages and remortgages were 16 per cent with residential investments taking up 19 per cent.
"We believe the mortgage market profile will prove a valuable, additional information resource for lenders, policy makers, regulators, analysts and researchers," said Pat Farrell, IBF chief executive.
"There were over 100,000 mortgages, but it is reassuring that these were spread across the market."