The number of mortgages approved in May rose by over 10% compared to last year.

The trends in approvals are broadly in line with Q1 and are unlikely to impact our mortgage forecasts, according to Davy.

On average first-time buyers are spending 28% of their after-tax income servicing their mortgages and they are typically two years older than their UK counterparts

The Banking and Payments Federation found people from Dublin make up over 40 per cent of first-time buyer mortgage recipients in Kildare, Wicklow and Meath

A green mortgage is a mortgage which offers a lower interest rate to people who are buying a more energy-efficient home

Darragh O’Brien said that, despite ‘good momentum’, he is ‘acutely aware’ of the number of homeless people in Ireland.

Figures from the Banking and Payments Federation show the overall volume of approvals was down 20 per cent year-on-year