Solo borrowers made up nearly two-thirds of mortgages taken out for apartments and almost a third all first-time buyer mortgages, according to new figures.
Sole borrowers made up 31 per cent of all mortgages taken out by first-time buyers as the market has seen a slow-moving trend back in that direction in recent years, according to data from the Banking and Payments Federation Ireland (BPFI).
This rate is still far below the levels seen in the mid-2000s when sole borrowers represented more than 45 per cent of first-time buyer mortgages. Even Dublin and the west of Ireland, which have the highest proportions at 34.6 per cent and 34.7 per cent, considerably lag the historical rate.
In some parts of the country the rate is much lower, with Kildare at 25 per cent and Meath at just 21.3 per cent.
RM Block
Solo borrowers are accounting for 64.2 per cent of mortgages on apartments, and make up a considerably larger share of loan borrowers on previously owned homes against the share of new homes.
In addition, the value of mortgages taken out by sole borrowers has grown by 51.2 per cent since 2019, outstripping the growth in value of the median, or middle value of joint borrower loan at nearly 45 per cent.
[ Last 12 months saw highest number of first-time-buyer mortgages since 2007Opens in new window ]
BPFI chief executive Brian Hayes said nearly half of the single-borrower sole mortgages in Dublin’s commuter belt were drawn down by households with “basic incomes up to €65,000, compared with fewer than one in 10 joint mortgages in the regions.”
Since 2019, the median income of a single borrower increased by €16,000 to almost €68,000. The report also found that the median household income of first-time borrowers has increased substantially – by €20,000 – in the past six years. The median first-time buyers’ household income is now €90,000.
The size of mortgages taken out by first-time buyers also hit new highs in the first half of 2025 as they took out bigger loans than before. The average mortgages taken out by first-time buyers and those moving homes both hit records in the period, at €314,810 and €373,393 respectively.
The volume of first-time buyer mortgages drawn down in the first half of the year is also the highest since 2007, with the BPFI chief linking the growing mortgage values to the “continued upward pressure on property prices”.
This record comes after a 5.5 per cent year-on-year increase to 11,791, which were worth a combined €3.7 billion, the highest value in the first half of any year since 2006.
He noted that “demand for housing remains robust” and said it “emphasises the importance of delivering a wide range of housing options to accommodate changing household structures and affordability challenges”.
Dublin saw the largest single share of mortgage approvals in the first half of the year, accounting for 30.7 per cent of the first-time buyer market and nearly 40 per cent of mover mortgages.
Dublin also had the highest median property and loan values as well as basic household incomes. Cork was the second-largest market.
