House prices increase at a slower rate of 7.5% in April, reveals CSO data.
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The Central Statistics Office has released new figures, showing a 7.5% year-on-year increase in residential property prices as of April 2025. This growth is slightly less than the previous month's 7.6%.
In the capital, Dublin, residential property prices experienced a 6.2% climb, while outside Dublin, prices soared by an impressive 8.6%.
For the period between April 2024 and April 2025, Dublin saw a 6.1% spike in house prices, with apartment prices up by a slick 6.5%. Within Dublin, Fingal registered a whopping 9.2% increase in house prices, making it the preferred area for property hunters.
As for the localities outside Dublin, house prices witnessed an 8.8% rise, with apartment prices escalating by a more conservative 5.7%. The Border region, consisting of Cavan, Donegal, Leitrim, Monaghan, and Sligo, was the region with the most significant growth, boasting a galloping 11.8% rise in house prices.
By contrast, the South-East, in the southeastern part of Ireland, reported a more moderate 7.2% increase.
The median house price for April 2025 landed at €365,000, with Dublins median price streaking past the €670,000 mark, making it the priciest area. Meanwhile, Leitrim remained the most affordable with a median of €185,000.
Blackrock, Dublin, and its postal district A94 held claim to the most expensive Eircode area, with a median price of €750,000, while Castlerea, Roscommon, took the least expensive price tag of €148,000.
A grand total of 3,748 homes were filed with Revenue in April 2025, a 4.9% increase from the 3,572 transactions in April 2024. The total value of these transactions clocked in at a substantial €1.6 billion. This included €1.2 billion for existing homes and €398.1 million for new homes.
Since hitting a low in early 2013, national property prices have risen by a mammoth 162.7%, while Dublin's prices are 158.1% higher than their peak in February 2012. Prices outside Dublin now sit 175.8% higher than their lowest point in May 2013.
Today's figures have sparked concerns from the Institute of Professional Auctioneers & Valuers (IPAV), who believe that the government's upcoming housing plan must deliver significant change to stimulate supply.
Pat Davitt, IPAV's Chief Executive, voiced his doubts about the current pace of new home construction, stating that as it stands, less than 15,000 new homes would be constructed for the entire year. Similarly, first-time buyer numbers are estimated to reach below 20,000 for the year due to the scarcity of new homes on the market.
Davitt also pointed out that only 840 of the 3,748 dwellings purchased in April were new homes, suggesting a persistent pattern that may hamper the development of the housing market moving forward.
- The growth in residential property prices, combined with the low supply of new homes, could potentially impact the investing strategies in the Irish real-estate market, as indicated by the Institute of Professional Auctioneers & Valuers.
- The surge in housing prices, coupled with the increasing competition in the property market, particularly in Dublin, suggests that finance in the Irish business sector, specifically the housing market, may require more attention and innovative solutions to meet the rising demand and stimulate growth.
