Banking and Payments Federation Ireland (BPFI) showed approvals for a mortgage fell 13.7 percent month on month while 14.3 percent were down in terms of volume over the same period.

Volume decreased by 9.4% annually, while value decreased by 4.2%. The FTB sector, on the other hand, fared better, with a 5.3% annual increase in the number of approved mortgages.

FTBs made up 62.3 percent of the 3,899 mortgages that were approved in April, while mover buyers made up 22.5 percent. The total amount approved for mortgages in April was €1,116 million, of which €701 million, or 62.9%, was for FTBs.

BPFI chief executive Brian Hayes said: “Our latest mortgage approval figures point to a continued slowdown in the market across almost all customer segments with the exception of FTB approvals. Despite the overall slowdown, however, mortgage activity remains at historically high levels with almost €1 billion in approvals for FTBs and mover purchasers in April.”