THE AVERAGE PRICE of a three-bed semi-detached house in Ireland in the third of quarter of this year was just over €421,000 – and in Dublin, it was €612,000.
Daft’s House Price report for Q3 has been released today. It found that once again, housing prices have increased across the country, with Dublin’s market prices the highest and suffering least from inflation.
On average, listed prices are 5.9% higher than a year ago and just 10% below their Celtic Tiger peak. They are 39% above their pre-covid levels.
The report found that inflation in housing prices has eased compared to the start of the year, but remains well above inflation in the wider economy. This is related to a significant lack of supply: there were a total of 11,925 second-hand homes for sale nationwide at the beginning of the month. This is less than half the average number available between the years 2015 and 2019.
- Dublin: €612,824 – prices on average 4.5% higher than a year ago
- Other Cities: €386,004 – prices on average 5.8% higher than a year ago
- Leinster (excluding Dublin): €361,499 – prices on average 7.2% higher than a year ago
- Munster (excluding cities): €297,996 – prices on average 5% higher than a year ago
- Connacht-Ulster (excluding Galway): €248,925 – prices on average 8.7% higher than a year ago
Daft has celebrated its twentieth year in market analysis. The author of today’s report, economist Ronan Lyons, said that over the past two decades, the housing market has experience a “wide variety of conditions”.
“Nonetheless, for over half that span, the predominant theme has been a shortage of supply,” he said.
“There are some indications in this latest report that new homes are sustaining activity levels in the market, even though construction is still low compared to underlying need.
“More construction – and a healthier second-hand segment – are the key ingredients needed if the story of the Irish housing market over the years to come is to be a happier one.”
The Labour Party’s housing spokesperson Conor Sheehan said the report’s findings show there is a “simply unsustainable” increase in house prices compared to last year.
“This report is not just about statistics — it’s about people being locked out of secure housing, about families trapped in spiralling rents, and about workers who feel they will never have a place to call their own,” he said.
He said Labour has set out measures to alleviate the housing crisis, including the ramping up of public housing delivery and stricter regulation of the private rental market, that have not been heeded by government.
Sheehan added: “Where is the much-trumpeted housing plan? The Minister said it would be published over the summer, but we still don’t have it. Government keep kicking the can down the road — we need action.”
Tánaiste Simon Harris confirmed earlier this month that the revised Housing for All plan will not be published until October, after being delayed from July and September. It is now expected to be released close to Budget day on 7 October.
Journal Media Ltd has shareholders in common with Daft.ie publisher Distilled Media Group.
