Almost 500 first-time buyers are getting approval every week to take out a mortgage with the overall number of property buyers being approved for a mortgage has shot up in the first 10 months of 2017.
Close to 2,000 first-time buyers got the go-head from their bank to take out a mortgage in October.
This works out at almost 500 new borrowers a month entering the market equipped with mortgage financing.
Figures from the Banking and Payments Federation Ireland show that a total of 3,751 mortgages were approved last month.
This is 20% higher than the same month last year.
In the 10 months of the year so far some 36,400 potential buyers have been given the go-head to borrow, a rise of 27% on the same period last year.
The average approval amount is up 10%on last year to €215,000.