Ireland’s housing market saw continued upward pressure on prices in 2025, as supply shortages kept buyers on edge, according to the latest Daft.ie House Price Report. Nationally, the average list price for a three-bedroom semi-detached home ended the year just above €423,000, marking a 5.5% increase over 2024.
While this pace of inflation is slower than the 6.8% rise recorded the previous year, it marks the twelfth consecutive year of rising prices. On average, listed homes are now 41% more expensive than pre-pandemic levels and just 10% below the Celtic Tiger peak.
Analysis of actual sales, drawn from the Property Price Register and matched to Daft.ie listings, suggests transaction prices rose even more sharply, by 7.4% in 2025. The gap between initial asking prices and final sale prices has also widened over the long term, reaching 6.6% nationally by the end of the year.
Regional Divergence
Price growth was far from uniform across the country. Dublin, traditionally the most expensive market, saw the slowest increase, with average three-bedroom semi-detached homes rising 3.1% to €611,000. Other urban areas recorded a 4.5% increase to €390,000. Leinster outside Dublin saw prices climb 7.3% to €363,000, Munster’s non-city regions rose 5.7% to €300,000, and Connacht-Ulster (excluding Galway) experienced the steepest surge, up 11.6% to €246,000.
Supply Remains the Key Constraint
The primary driver of rising prices remains tight supply. On December 1, just 11,551 second-hand homes were listed for sale nationwide, a 7% increase from a year earlier but less than half the 2015-2019 average of 26,000. Supply shortages are especially acute outside Dublin, where availability is 63% below late-2010s levels, compared with a 16% shortfall in the capital.
Ronan Lyons, Professor of Economics at Trinity College Dublin and author of the report, highlighted the persistence of the imbalance. “Across both list and transaction prices, demand continues to significantly outpace supply,” he said. “The modest slowdown in price growth is welcome, but since the pandemic, the number of homes available to buy has remained much lower than before, putting sustained pressure on buyers.”
Lyons stressed that addressing the housing crisis requires a major increase in construction. “A country that is building between 30,000 and 35,000 homes annually needs to at least double that number–across owner-occupied, social, and rental segments–so housing reflects society, rather than forcing society to adapt to the limited stock.”
Average Q4 2025 Prices for Three-Bedroom Semi-Detached Homes
- Dublin: €611,000, +3.1% YoY
- Other Cities: €390,000, +4.5% YoY
- Leinster (excluding Dublin): €363,000, +7.3% YoY
- Munster (excluding cities): €300,000, +5.7% YoY
- Connacht-Ulster (excluding Galway): €246,000, +11.6% YoY
