Acute shortage of second-hand homes in Ireland squeezes first-time buyers

Ireland's second-hand housing market faces acute pressure as stock falls over 20% since 2020, with steepest drops impacting first-time buyers.

Cork City recorded the highest ratio of advertised stock to private dwellings in the State at 1.2%, nearly double the national figure.

The supply of second-hand homes has fallen again, with the steepest declines concentrated in the cheaper price brackets that matter most to first-time buyers.

New figures from Sherry FitzGerald show there were 14,388 second-hand homes advertised for sale in July, down 2.2% on the same month last year. It means just 0.7% of Ireland's total private housing stock is on the market for sale, highlighting the constrained choice buyers in the market have.

The number of second-hand homes available for sale has now fallen by more than 20% since 2020.

The squeeze is sharpest at the affordable end. The number of homes listed below €350,000 fell 9.6% over the year to 5,676, while those under €200,000 dropped 20.6% to just 1,531 properties. Availability at higher price points, by contrast, rose slightly, a shift the agency attributes partly to the price inflation of recent years.

Sherry Fitzgerald said the average value of a second-hand home rose 5.2% in the year to the end of June, a moderation from the 7.4% recorded a year earlier but still well ahead of income growth. The gap between the capital and the rest of the country remains wide: Dublin values rose 3.5%, against 7.2% outside it, with the Midlands (+10%), South-East (+9.3%) and South-West (+8.1%) leading the way.

Regionally, advertised stock fell almost everywhere. The West saw the sharpest drop, down 9.0% to 1,580 homes, followed by the Border region, down 4.5% to 1,283. The Midlands was the only region to buck the trend, with listings up 9.2% to 857.

Cork City recorded the highest ratio of advertised stock to private dwellings in the State at 1.2%, nearly double the national figure.

Marian Finnegan, CEO of Sherry FitzGerald, said the second-hand housing market remains under acute pressure. "Advertised stock is not only lower than last year, but more than one-fifth below 2020 levels. This persistent shortage is placing additional strain on buyers and reinforcing the imbalance between supply and demand," she said.

Sherry FitzGerald said the latest report shows no change in the long-running trend of investors exiting the market. Those selling investment properties accounted for 31% of all sales through Sherry FitzGerald in the first half of the year.

They said the continued exit of small private landlords remains a serious concern, but said the rental rule changes introduced earlier this year do not yet appear to have had a material impact on the numbers exiting.

The report also points to improved housing delivery in the first six months of 2026. The latest data from the CSO shows that 16,679 units were completed in the first half of the year, an increase of 10.8% compared with the same period in 2025 and the highest first-half total recorded since the series began in 2011.

“The uplift in new housing delivery is a welcome development and demonstrates that progress is being made. However, the shortage of homes available for sale remains acute, particularly for buyers seeking more affordable properties. The priority now must be to sustain and accelerate delivery, while ensuring that new supply is aligned with the requirements and affordability levels of households across the country.”

Separate data from the CSO this week shows overall Irish home prices rose at their slowest rate since January 2024.

Residential property prices rose by 5.6% in June compared with the same month last year, down from the 6.1% recorded in the year to May 2026.

The annual increase in residential

property prices

nationally of 5.6% for June 2026 represents the lowest annual rise since January 2024, when the annual increase was 5.4%.