Property prices across Ireland increased by 6.8% in the 12 months to February, according to the latest figures published by the Central Statistics Office (CSO). The latest rise marks a slight slowdown compared with the 7.1% annual growth recorded in January, suggesting a modest easing in the pace of inflation in the housing market.
The CSO reported that the median price of a home purchased during the period stood at €390,000 nationally. Prices in Dublin remained significantly higher than the rest of the country, with a median value of €500,000 for houses and apartments in the capital.
Within Dublin, Dun Laoghaire-Rathdown recorded the highest median price at €681,500, while Fingal was the least expensive area, with a median of €475,500. Outside the capital, Wicklow emerged as the most expensive county for residential property, with a median price of €455,831. Donegal remained the most affordable, with a median value of €198,000.
CSO statistician Samantha Walsh said Dublin residential property prices rose by 5.6% year-on-year, while prices outside the capital increased at a faster rate of 7.8% over the same period.
Despite the recent slowdown in growth, the national property index remains significantly elevated in historical terms. Prices are now 25% higher than their previous peak during the property boom in April 2007 and have surged by 179% since reaching a post-crash low in early 2013.
Market analysts say the figures reflect continued pressure on supply in the housing sector, alongside strong demand from buyers competing for limited stock. However, there are signs that external economic factors could influence the trajectory of the market in the months ahead.
Trevor Grant, chairperson of Irish Mortgage Advisors, said the recent moderation in price growth could prove temporary if global instability continues. He warned that rising oil prices linked to geopolitical tensions in the Middle East may feed into higher construction and transport costs.
Such increases, he noted, could drive up the cost of building materials and place further pressure on housing development costs, potentially feeding into higher property prices for new homes.
While the annual growth rate has eased slightly, the Irish housing market remains firmly above long-term historical levels, with affordability continuing to be a central concern for prospective buyers across the country.
