Average Prices Hit €421,000 Nationwide.
The average price of a three-bed semi-detached home in Ireland has risen to just over €421,000 in the third quarter of this year, according to Daft.ie’s latest house price report.
Dublin Leads With Highest Prices
In Dublin, the average figure now stands at €612,000, making the capital the most expensive housing market in the country and the least affected by inflationary pressures.
Year-On-Year Growth
Across Ireland, listed prices are 5.9% higher than a year ago and now sit just 10% below their Celtic Tiger-era peak. Compared to pre-pandemic levels, prices are 39% higher.
Inflation Slows, But Still Outpaces Economy
The report notes that while inflation in housing has eased slightly compared with earlier this year, it still far outstrips inflation across the wider economy.
Supply Remains a Key Issue
One of the central reasons behind the rise is a lack of supply. At the start of this month, just 11,925 second-hand homes were listed for sale nationwide. This is less than half the average number available between 2015 and 2019.
Regional Breakdown
- Dublin: €612,824 – prices up 4.5% in a year
- Other Cities: €386,004 – up 5.8%
- Leinster (excluding Dublin): €361,499 – up 7.2%
- Munster (excluding cities): €297,996 – up 5%
- Connacht-Ulster (excluding Galway): €248,925 – up 8.7%
Daft Marks 20 Years of Analysis
This year marks Daft.ie’s twentieth anniversary in publishing property market insights. Economist Ronan Lyons, author of the report, reflected on the long-term trends.
Longstanding Problem of Supply
“For over half of that period, the overriding theme has been a shortage of supply,” Lyons said.
New Homes Providing Some Relief
He added that while construction remains far below what is needed, new housing projects have helped sustain some activity in the market.
Call for Construction Boost
“More building – along with a healthier second-hand market – is essential if Ireland is to achieve stability in housing in the years ahead,” Lyons concluded.
Political Reaction
The findings immediately sparked political debate, with opposition parties warning that the government’s housing policies are failing to keep pace with demand.
Labour: ‘Unsustainable Rise’
Labour’s housing spokesperson Conor Sheehan said the figures reveal a “simply unsustainable” surge in house prices.
Housing Crisis Felt by Families
“This is not just about statistics,” Sheehan argued. “It’s about families locked out of home ownership, renters trapped in spiralling costs, and workers losing hope of ever having a place to call their own.”
Labour’s Proposed Solutions
He said Labour has consistently put forward measures to tackle the crisis, including a large-scale public housing programme and tighter rental market regulation.
Government Accused of Delay
Sheehan accused ministers of “kicking the can down the road” by failing to act decisively. “Where is the much-trumpeted housing plan? It was promised in the summer, but we are still waiting.”
Revised Plan Delayed Again
Tánaiste Simon Harris confirmed earlier this month that the government’s revised Housing for All strategy will not be published until October.
Previous Missed Deadlines
The plan was originally due in July, then September, but has now been delayed until 7 October, aligning with Budget day.
Growing Frustration Among Opposition
Sheehan said each delay further erodes public confidence. “Government speeches will not put roofs over people’s heads — we need action, not promises.”
Wider Context of Rising Prices
Analysts say Ireland’s housing crisis has been deepened by global economic factors, but point out that the country’s chronic shortage of supply predates both the pandemic and current inflationary pressures.
Urgent Need for Policy Shift
Experts argue that without immediate large-scale investment in both public and private construction, prices will remain out of reach for many families.
Housing Crisis Central to Politics
With a general election on the horizon, housing affordability and supply remain set to dominate the political debate in Ireland well into 2025.
Data obtained from Daft.ie
