- House price inflation is slowing down
- Homes are selling for 8% over asking at the median
- It takes roughly 2.6 months for a home to go sale agreed
- Number of new build completions in 2025 is expected to be just over 34,500
- There are expected to be just over 61,000 property transactions in 2025
- 33% of all homes sold in Ireland are to cash buyers – 1 in every 3 homes sold
- Average price of a property sold currently is €426,000
- The average price of a home sold is currently eight times the average earnings of €53,000
- Average mortgage drawn down for home purchase is €336,500
- The number of properties listed for sale on myhome is 13,000
Read in more detail -
House Prices – what’s the latest?
The Q3 MyHome data provides evidence that house price inflation is slowing down. The market remains very difficult however with the pace of price rises merely softening.
Residential property prices increased by 7.4% year-on-year (y-o-y) in August.
Prices in Dublin rose by 5.3% and outside Dublin by 9.2%.
How much above asking price are homes going for in Ireland?
MyHome data shows asking price inflation slowed to 5.7% in Q3 2025. In October, homebuyers are paying 8.0% over asking at the median.
Housing Availability:
The number of properties listed for sale on MyHome at end-September was 13,000, flat on the year and well down from 20,000-plus level prior to Covid-19.
New listings for sale in first three quarters of the year were up 2.7% on the same period of last year, but this is still close to the weakest level since the pandemic.
The market is very tight with the low levels of property for sale selling very quickly.
How long does it take the average home to go sale agreed in Ireland?
Average time to sale agreed is now 2.6 months, close to a historic low – demand means homes are selling fast.
Transactions:
Limited stock for sale is hampering activity, despite robust demand.
There were about 61,000 transactions in 2024, down about 3% from 2023. Housing market transactions look set to record only a marginal rebound in 2025.
A lack of property for sale is holding back the market, particularly amongst movers.
How many cash home buyers are there in the Irish market?
Cash buyers have been relatively steady in recent quarters and account for around one in three household purchases.
Mortgage Market – what’s new?
There was 32,765 drawdowns in the first three quarters of the year, up 9.1% y-o-y.
First time buyer drawdowns are up 6% in the first three quarters, contrasting with an increase of just 0.7% in mover purchasers. There continues to be a strong increase in remortgaging activity. The average drawdown for house purchase for house purchase continues to tick up, now at €336,500 in Q3.
Mortgage approvals were robust in September. FTB approvals were up 9.2% on the year while mover purchasers continue to disappoint down 9.7%. 60% of approvals are to FTBs with just 19% for movers, while interest in remortgaging/top ups is on the rise, now accounting for 19% of approvals.
Construction Activity:
There were just under 33,000 completions in the year to Q3 2025, the most since circa. 2007.
The data is broadly in line with a full year 2025 forecast of 34,500 completions.
Housing starts have slowed in 2025, not unexpectedly, given the surge in 2024. Starts are down 80% year-on-year in Jan-Sept (and down 57% from 2023). Budget 2026 changes reducing VAT for apartments may encourage more starts for that sector next year.
Affordability & Interest Rates:
The ECB held steady at their September meeting, leaving the deposit rate at 2%. ECB policymakers are now giving a consistent message that the easing cycle is over for now and we have them on hold until at least mid-2026.
Affordability is becoming more stretched. The average residential property sold in 2025 had a price of €426,000, eight times the average earnings of €53,000.
CSO data showed the median income for residential purchasers in 2024 was €84,400, up 5.4%.. For joint purchasers the median was €101,200 and for sole purchasers €55,100. The area with the highest median income, at €127,600, was Dun Laoghaire-Rathdown.
Data provided by Bank of Ireland Economic Research Unit – October 2025
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