Buying & Affordability
Mortgage Statistics Ireland 2026
Irish lenders drew down €9,900,000,000 in new mortgages in 2025 — the highest annual total on record. This page tracks drawdown volumes, average loan sizes, fixed vs variable rate trends, and county-level breakdowns sourced from BPFI and the Central Bank of Ireland. Data last updated 31 December 2025.
Market Activity
Mortgage Drawdowns 2012–2025
New mortgage drawdowns have grown steadily from around 18,100 in 2012 to 35,200 in 2025. A COVID-related dip in 2020 and a brief plateau in 2022 following ECB rate rises are the main interruptions to the upward trend. The bars show volume; the red line shows total value drawn down.
Loan Sizes
Average Mortgage Size Over Time
The average new mortgage has nearly doubled from €145,000 in 2012 to €282,000 in 2025. The dashed red line shows the Central Bank LTI cap (4× the national average gross wage), which has risen more slowly than actual loan sizes — indicating that average mortgages now significantly exceed the implied 4× limit and reflect dual-income households and exceptions to the LTI rule.
Rate Type
The Shift to Fixed-Rate Mortgages
Fixed-rate mortgages accounted for just 15% of new drawdowns in 2015. Following the ECB rate-hiking cycle that began in mid-2022, borrowers moved rapidly to lock in certainty — pushing the fixed rate share to 74.8% by end-2025. This represents a structural shift in how Irish households manage interest-rate risk.
International Rates
Mortgage Rates: Ireland vs Europe
Irish mortgage rates (3.82%) remain above the EU average (3.21%) and most eurozone peers. Historically, Ireland has carried a premium attributed to a concentrated banking sector, elevated tracker mortgage legacies, and higher regulatory capital requirements following the 2008–2012 banking crisis. Only the UK (outside the eurozone) currently has materially higher rates.
By County
Mortgage Drawdowns by County
| County | Volume ↓ | Avg Loan | Avg LTV % | YoY Change | Province |
|---|---|---|---|---|---|
| Dublin | 10,400 | €340,000 | 79.2% | +4.1% | Leinster |
| Cork | 4,200 | €268,000 | 80.5% | +5.2% | Munster |
| Galway | 1,980 | €252,000 | 81.0% | +6.1% | Connacht |
| Kildare | 1,820 | €298,000 | 80.1% | +4.8% | Leinster |
| Meath | 1,680 | €285,000 | 80.8% | +5.0% | Leinster |
| Limerick | 1,540 | €238,000 | 81.5% | +5.8% | Munster |
| Wicklow | 1,280 | €302,000 | 79.5% | +4.3% | Leinster |
| Waterford | 1,100 | €218,000 | 81.8% | +6.4% | Munster |
| Wexford | 1,050 | €225,000 | 81.2% | +5.6% | Leinster |
| Kilkenny | 820 | €228,000 | 80.9% | +4.9% | Leinster |
| Tipperary | 760 | €205,000 | 82.1% | +5.3% | Munster |
| Clare | 720 | €220,000 | 81.6% | +5.7% | Munster |
| Louth | 700 | €248,000 | 80.4% | +4.6% | Leinster |
| Westmeath | 640 | €215,000 | 81.0% | +5.1% | Leinster |
| Kerry | 620 | €212,000 | 81.9% | +6.2% | Munster |
| Laois | 580 | €210,000 | 81.3% | +5.4% | Leinster |
| Offaly | 540 | €205,000 | 81.7% | +4.7% | Leinster |
| Mayo | 520 | €195,000 | 82.0% | +6.8% | Connacht |
| Sligo | 440 | €190,000 | 82.3% | +7.1% | Connacht |
| Roscommon | 400 | €182,000 | 82.5% | +7.4% | Connacht |
| Cavan | 390 | €185,000 | 82.2% | +6.5% | Ulster |
| Monaghan | 360 | €180,000 | 82.4% | +6.3% | Ulster |
| Carlow | 350 | €208,000 | 81.1% | +5.0% | Leinster |
| Donegal | 340 | €175,000 | 82.8% | +7.6% | Ulster |
| Longford | 300 | €172,000 | 82.6% | +6.9% | Leinster |
| Leitrim | 280 | €168,000 | 82.9% | +8.0% | Connacht |
Central Bank Rules
Mortgage Stress Testing in Ireland
When you apply for a mortgage in Ireland, lenders are required to stress-test your repayment capacity at an interest rate 2 percentage points above your actual application rate. This means if you are applying for a 3.8% mortgage, the lender must be satisfied you can afford repayments at 5.8%. Combined with the Central Bank’s LTI cap of 4× gross income and LTV limits, these rules are designed to prevent overborrowing and protect the financial system from sharp price corrections. Lenders may grant exceptions to the LTI and LTV caps for a proportion of their annual lending book — typically up to 15% of new first-time buyer mortgages can exceed the LTI limit.
Data Sources & Methodology
Mortgage drawdown volumes and values are sourced from the Banking & Payments Federation Ireland (BPFI) quarterly mortgage drawdowns report, the primary industry-wide data source. Interest rate data is sourced from the Central Bank of Ireland Retail Interest Rates statistical release and cross-referenced against European Central Bank (ECB) MFI interest rate statistics for eurozone comparisons. LTI and LTV data is derived from Central Bank of Ireland macro-prudential rule compliance reports. County-level breakdowns are estimated from BPFI regional data and Property Price Register transaction volumes. All data covers the period 2012–2025; last updated 31 December 2025.
Frequently Asked Questions
- What is the average mortgage in Ireland?
- The average new mortgage in Ireland is €282,000, based on BPFI drawdown data for 2025. This reflects a significant increase from roughly €145,000 in 2012, driven by rising property prices across the country.
- What are current mortgage rates in Ireland?
- The average new mortgage rate in Ireland is 3.82% as of end-2025. Rates across lenders typically range from approximately 3% to 5% depending on the product type, LTV ratio, and fixed-rate term chosen.
- How much can I borrow for a mortgage in Ireland?
- Under the Central Bank of Ireland's macro-prudential rules, most borrowers are limited to 4 times their gross annual income (the LTI cap). First-time buyers can borrow up to 90% of the property value (10% deposit required), while second and subsequent buyers need a 20% deposit.
- Are Irish mortgage rates higher than the EU average?
- Yes. The average Irish mortgage rate of 3.82% is above the EU average of 3.21%. Ireland has historically had higher mortgage rates than most eurozone peers, attributed to a concentrated banking market, higher default risk premiums post-2008, and regulatory capital requirements.
- How many mortgages are drawn down in Ireland each year?
- There were 35,200 new mortgage drawdowns in Ireland in 2025, up from approximately 18,100 in 2012. The market dipped in 2020 due to COVID-19 restrictions and saw a brief softening in 2022 as ECB rate rises took effect.
- What is the maximum mortgage term in Ireland?
- Most lenders in Ireland will offer mortgage terms up to 35 years, subject to the borrower's age at end of term (typically must be repaid by age 70). The average mortgage term for new drawdowns is 28 years.