New figures show a significant drop in mortgage approvals.
The number of home loans granted by banks in September fell by more than 8.5%, but year-on-year it is up by 4.5%.
It is thought the Central Bank's mortgage regulations are making it more difficult for first-time buyers to get approval.
Felix O'Regan, spokesperson for the Banking and Payments Federation of Ireland, said: "What it points to is the challenge that the rules provide to individual purchasers as they try to get onto the property ladder.
"It also reaffirms the framework of prudent lending that lenders have to adhere to and want to adhere to."