House price inflation hits highest levels in a decade

Typical listed price nationwide was €357,851 - 12.3% higher than a year previously

House prices inflation has hit its highest levels in 10 years, with the typical listed price 12.3% more than a year ago. Picture: Andrew Matthews/PA 

House prices inflation has hit its highest levels in 10 years, with the typical listed price 12.3% more than a year ago.

The typical listed price nationwide stands at €357,851, with the latest Daft.ie House Price Report released on Monday showing prices rose by an average 3% in the second quarter of 2025. Average prices are now 40% higher than at the onset of the pandemic.

The number of second-hand homes available to buy nationwide on June 1st stood at close to 12,100. This is largely unchanged from the figure a year ago but less than half the pre-covid average of almost 25,000.

Across Munster, prices rose by an average of 4.4% in the second quarter of 2025, following an even larger 4.9% increase in the first quarter. On June 1st, there were almost 3,200 second-hand homes for sale in Munster, up substantially from the March figure but still down two thirds on the pre-covid average.

Average house listing price in Cork city increased by 8.6% to €369,938 while across Cork county it stood at €325,999. The average listing price of a one-bedroom apartment in Cork city stood at €179,000 over the second quarter of 2025 while a three-bedroom semi-detached house in Cork city stood at €309,000.

In Kerry, the average listing house price rose 14.8% to €311,204 while in Co Waterford, prices rose 6.7% to €339,276, and rose 15.2% to €276,420 in Waterford city. In Co Limerick, asking prices rose 14.6% to €297,336 and rose 12.8% to 311,086 in the city. In Clare, prices were up 10.1% to €277,365, while in Tipperary average prices sought rose 13.6% to €283,197.

In Dublin, prices were up 12.3% with asking prices highest in South County Dublin at €718,098.

“The fastest increase in housing prices since mortgage market rules were introduced a decade ago highlights the importance of addressing Ireland’s chronic and worsening housing shortage,” said Trinity College economist Ronan Lyons, the author of the report.

 “The substantial increases over the past year in almost all parts of the country are linked to the lack of second-hand supply. This in turn is related to the increase in interest rates earlier in the decade,” said Mr Lyons.

 The typical transaction price in the second quarter of 2025 was 6.3% above the listed price, the report showed. “The second quarter of 2025 saw the highest level of ‘market heat’ - as measured by the premium paid by buyers above the listed price - than at any other time since the start of 2010,” the report stated. Market heat is greatest in Dublin, where the transaction price is typically 8.5% above the list price, the highest in any region since 2010, up from 5.7% in the same three month period last year. In Munster, market heat sits at 6.7%, 4.3% in Leinster and 4.8% in Connacht-Ulster.