Irish House Prices Rose 6.5% in March, Slowest Growth Since February 2024

Irish house prices increased by 6.5% in the year to March, with the median cost of a home now €390,461 nationwide, nearly €28,000 higher than a year ago. This marks the slowest annual growth rate since February 2024, down from 6.7% in February and 7.1% in January, according to the Central Statistics Office (CSO).

Prices in Dublin rose by 5.7%, while outside the capital, they increased by 7.2%. Dún Laoghaire-Rathdown recorded the highest median house price at €685,000, and Blackrock, Dublin (A94), had the most expensive Eircode area at €845,000. Donegal and Longford shared the lowest median price at €200,000, with Castlerea, Roscommon (F45), being the cheapest Eircode area at €150,500.

Apartment prices nationally grew faster than houses, up 9.1% compared to 6.1% for houses, and surged 12% outside Dublin. The Midlands region (Laois, Longford, Offaly, Westmeath) saw the strongest house price growth at 13.4%. In March, 4,123 homes were purchased for €1.8 billion, including 992 new builds and 1,664 first-time buyer purchases.

Industry groups warn that affordability remains a severe issue due to supply-demand imbalance. Rachel McGovern of Brokers Ireland noted buyers are reaching affordability limits, while Genevieve McGuirk of the Institute of Professional Auctioneers and Valuers highlighted ongoing supply shortages. Property prices nationally are now 25% higher than the 2007 Celtic Tiger peak.