Property prices in Ireland increased by 8.1% in the 12 months leading up to January, according to the latest data from the Central Statistics Office (CSO). While the cost of purchasing a home continues to rise, the pace of growth has slightly slowed compared to previous months.
In Dublin, house prices climbed by 7.5%, while prices outside the capital saw a sharper increase of 8.6%. The median price of a home nationwide stood at €359,999 in January. The highest median property price was recorded in Dún Laoghaire-Rathdown at €662,349, while Leitrim reported the lowest at €180,000.
Despite the slowdown, property values remain significantly higher than in previous years. Prices are now 16.9% above their peak levels during the 2007 property boom. Compared to the market low in early 2013, home prices have surged by 160.7%.
Regional Variations in Property Growth
According to the CSO, the most expensive Eircode area for property sales in the 12-month period was A94 (Blackrock), where the median price reached €743,500. In contrast, the least expensive location was H23 (Clones), with a median price of €133,000.
Among regions outside Dublin, the Border region, which includes Cavan, Donegal, Leitrim, Monaghan, and Sligo, experienced the highest house price growth at 12.7%. Meanwhile, the Mid-East region, comprising Kildare, Louth, Meath, and Wicklow, recorded the smallest increase, with property prices rising by 5.8%.
Signs of a Moderating Market
Although property prices are still rising, the rate of increase has slowed. In the 12 months leading to August last year, prices were growing at a faster rate of 10.1%. The current figures suggest a gradual moderation in the market, which may provide some relief to prospective buyers facing affordability challenges.
With property values continuing to climb but at a slower pace, market analysts will be closely watching whether this trend persists in the coming months.
