Property price inflation slows to three-year low of 5.1% as market cools
Irish house price inflation has slowed to a three-year low of 5.1% as of August. The cooling market is attributed to increased supply, higher borrowing costs, and economic uncertainty.
Why it matters
This trend reflects the broader impact of European Central Bank interest rate hikes on consumer purchasing power and real estate market stability.
House price inflation slowed to its lowest level in nearly three years in August, according to official Government figures, as a combination of increased supply, higher borrowing costs and geopolitical uncertainty cooled the market.
The latest Residential Property Price Index from the Central Statistics Office indicated that prices nationally rose at an annualised rate of 5.1 per cent in August, down from 5.4 per cent in July.
This was the lowest level of price growth in the Irish market since December 2023.
Property prices in Dublin rose by 3.9 per cent while prices outside Dublin were up by 6.2 per cent compared with August last year.
The latest assessment comes amid a marked slowdown in prices in certain segments of the market.
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