The number of mortgages drawn down has gone up nearly 9% in the last 12 months.

The Banking and Payments Federation of Ireland (BPFI) says there were 10,157 new mortgages drawn down in the second quarter of 2019.

These were worth €2.25bn.

The BPFI says this represents an increase of 8.8% in volume and 11.7% in value compared to a year ago.

First-time buyers remain the single largest segment by volume - representing just under 50% of all mortgages.

Switching activity - or re-mortgage loans - also saw a year-on-year increase of 11%.

In terms of mortgage approvals, a total of 4,478 mortgages were approved in June 2019 - with 2,235 of these being first-time buyers.

Mover purchasers accounted for 1,233 of mortgage approvals.

Overall, the number of mortgages approved was up by 4.8% year-on-year - but fell by 9.1% compared to the previous month.

Mortgages approved in June were valued at just over €1bn - of which first-time buyers accounted for 53.3%, valued at €550m, and mover purchasers were worth €332m.

Goodbody says this means the market is on track to hit a forecast of €9.9bn in new lending this year, despite a slower than expected new homes market.