Irish house prices rise at slowest rate in over two years
Annual Irish home price inflation remained static between April and May at 6.2%, marking the slowest rate since February 2024, indicating a tentative cooling in some market segments. However, prices outside Dublin continue to accelerate due to an ongoing shortage of second-hand properties, creating a 'two-speed' housing market. Dublin saw a slower annual increase of 4.7%, while rural areas rose by 7.3%.
Why it matters
This data provides crucial insights into the health and dynamics of the Irish housing market, affecting affordability, investment decisions, and economic stability for residents and policymakers. The divergence between urban and rural markets highlights regional economic disparities.
Annual Irish home price inflation was static between April and May, the Central Statistics Office (CSO) said on Wednesday, as prices continued to rise at their slowest pace since February 2024, adding to evidence of a tentative cooling off in some parts of the market.
However, prices outside of Dublin continued to rise at an accelerated rate amid an ongoing shortage of second-hand properties for sale.
Residential property prices were 6.2 per cent higher nationally in May compared with the same month last year, unchanged from the 6.2 per cent annual inflation rate recorded in April.
In Dublin, house prices continued to rise but at a slower annual pace in May of 4.7 per cent, down from 5.5 per cent in April, the CSO said.
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