House prices continue to rise but rate of increase slows to lowest in 18 months, CSO says

Trevor Grant, chair of Irish Mortgage Advisors, said the 'almost static rate' of house price growth will bring some relief but homes still remain unaffordable for large swathes of people hoping to purchase their first home. File photo

Home prices in Ireland continue to rise at a sharp rate, but house price inflation fell to its lowest level in over 18 months in October, new figures have shown.

The Central Statistics Office said residential property prices rose by 7.3% in the year to October 2025, its lowest level of price inflation since March 2024 when it stood at 7.4%, while the median price paid for a home in the last 12 months standing at €381,000.

Property prices in Ireland are now over 20% above their Celtic Tiger peak, and prices outside Dublin are nearly triple (190.5% higher) what they were at their lowest in May 2013.

Trevor Grant, chair of Irish Mortgage Advisors, said the “almost static rate” of house price growth will bring some relief but homes still remain unaffordable for large swathes of people hoping to purchase their first home.

“There needs to be a considerable and consistent fallback in the rate of house price growth if home ownership is to come within reach of the so many who are vying to get onto the property ladder,” he said. “The Government has consistently failed to meet its housing targets in recent years and prospective buyers will be hopeful that this tide will turn in 2026.” 

Regional breakdown

The latest data shows that prices continue to rise at a faster rate outside of Dublin than in the capital. In the last year, property prices in Dublin have risen by 5.4% while prices in the rest of the country are 8.9% higher.

House prices are rising fastest in the Midlands, encompassing Laois, Longford, Offaly and Westmeath, up 15% in the last year. House prices in Cork and Kerry are up almost 10% while apartments in all areas except Dublin are up 10.5%.

The five most expensive Eircodes to buy a home are all in Dublin, with properties in A45 Oldtown going for a median price of €875,000.

In Cork, the most expensive Eircode is P17 Kinsale, selling for a median of €490,000. Homes on Cork’s southside, meanwhile, are going for a median of €425,000 which is significantly above the national figure of €381,000.

First-time buyers

In October, 4,830 homes changed hands in Ireland, with just under one quarter of these being new builds.

In the year to October, 38.3% of the new homes bought were bought by first-time buyers. 

The median price of a new home bought by first-time buyers in October 2025 was €440,000 compared to the €374,000 that first-time buyers paid for second-hand homes.

'Exposed'

Rachel McGovern, deputy chief executive of Brokers Ireland, said a 7.3% rise is a substantial increase on the back of sustained price rises faced by prospective home buyers each year in Ireland.

“Those trying to get onto the property ladder feel they have no choice but to compete for the continuing scarce resource that is a home,” she said. 

“That prices are continuing at high levels for a sustained period is a worry. If there was an economic downturn there is a risk that some mortgage holders could find themselves exposed.”

Mr Grant added that all eyes will be on the Government's new housing plan in 2026 as it has "never been more important for a government housing plan to deliver".