Residential property price growth across Ireland slowed to its weakest pace in 16 months in July, according to new figures from the Central Statistics Office (CSO). Annual price growth eased to 7.5%, down from 7.9% in June, but affordability pressures remain a major concern for both buyers and policymakers.
The CSO said prices in Dublin climbed by 6% year-on-year, while those outside the capital increased by 8.7%. Within Dublin, house prices rose by 6.2% and apartments by 5.3%. The sharpest growth was seen in Dublin City at 7.7%, while Dún Laoghaire-Rathdown recorded a more modest rise of 4.7%.
Outside Dublin, the Midlands – covering Laois, Longford, Offaly, and Westmeath – registered the highest annual house price growth at 10.9%. The South-East and South-West regions also reported significant increases of 8.1%. The median price of a home nationwide in the 12 months to July stood at €374,999, with the highest median of €675,000 in Dún Laoghaire-Rathdown and the lowest of €195,000 in Donegal and Leitrim.
By Eircode, Blackrock (A94) in Dublin remained the most expensive area with a median price of €795,000, while Castlerea (F45) in Roscommon was the least expensive at €150,000.
A total of 4,712 home purchases were filed with Revenue in July, down 0.2% compared with the same month last year. These transactions, valued at €2.1 billion, included €1.5 billion in existing homes and €550.7 million in new homes.
Speaking after the data release, Housing Minister James Browne acknowledged the challenges, stressing that supply was the “key” to stabilising prices and making homes affordable. “I’m very conscious that this is a significant increase, and it is affecting affordability,” he said. “The key to getting house prices stabilised, and actually at an affordable price, is supply.”
Browne pointed to progress in delivery, citing a 35% increase in completions during the second quarter, while rejecting claims that planning delays were being pinned on local authorities. He said the government was working with councils to accelerate approvals, zone sufficient land, and ensure resources were in place.
On targets, the minister clarified there had never been a plan to build 50,000 homes in 2025. “There won’t be 50,000 this year, but it was never intended to be. What we want to see is continued increases year on year,” he said, highlighting progress under the Housing for All plan.
Browne also confirmed that the new Housing Activation Office was now operational, with utility and local authority specialists in place to identify key development areas. A lead for the office will be appointed shortly, though he stressed it would not be a “housing tsar.”
Despite the slowdown, CSO data shows Dublin residential property prices are now 6.8% above their 2007 peak, while prices outside Dublin are 23% higher than the previous market high in May 2007.
