The pace of house price growth in Dublin has continued to slow, with annual inflation in the capital’s residential property market moderating for the third quarter in a row, according to new figures.
The latest DNG House Price Gauge (HPG) shows that in the three months to September, the average price of a resale home in Dublin rose by 0.9%. That compares with a 2.5% increase during the same period last year, highlighting a cooling trend in the market.
On an annual basis, Dublin house price inflation stood at 6.2% in the year to September 2025. This was down from 8% in the year to June and 9.6% recorded in the year to March.
Despite the slowdown, property prices remain significantly higher than they were at the last market trough. According to the HPG, average Dublin house prices have climbed by 150% since 2012. However, they are still below the historical peak reached in 2006.
The latest data shows differences across the market. Prices at the upper end remain 24.5% below their previous peak, while entry-level and mid-market properties are now less than 5% below their highs. The average price of a resale property in Dublin currently stands at €605,612.
Apartment Prices and Investor Sales
The DNG Apartment Price Gauge (APG) also reported modest growth. Apartment values rose by 1% in the third quarter, following a 1.1% increase in the second quarter and 1.9% in the first quarter of 2025.
The research highlighted a notable shift in investor activity. The share of sales involving landlords selling rental properties increased to 27% in the third quarter, up from 20% in the previous quarter.
At the same time, first-time buyers remained the most active group in the resale market. They accounted for just over half of all purchases in the capital during the third quarter.
Market Outlook
Commenting on the figures, Paul Murgatroyd, Director of Research at DNG, said the findings suggest a period of stability in the Dublin housing market.
“The latest results of the DNG House Price Gauge paint a picture of stability in the Dublin residential market at the present time, with price inflation moderating as this year has progressed,” he said.
Murgatroyd added that while house price inflation was running at close to 10% annually at the end of 2024, the rate of growth has since eased to “a more sustainable level.”
The moderation comes against the backdrop of broader economic pressures, including rising interest rates and affordability challenges, which have slowed demand after several years of rapid price increases.
