List prices for homes in Ireland have climbed to 41 per cent higher than pre-Covid levels, according to a new report.
The final quarterly report for 2025 from Daft.ie, published today, shows that the average price for a house in 2025 was approximately 7.4 per cent higher than in 2024.
This is the fifth largest annual increase in the last ten years – below the 2024 increase (6.8%) and the high of 11% seen during 2021 but slightly above the rates seen in 2022 (4.7%) and 2023 (4.8%).
Supply constraints fuelled price hikes, with house transaction prices rising by 28 per cent in Dublin since the beginning of the decade, according to the Year in Review Sales Report.
During 2025, list prices, meanwhile, rose by 5.5 per cent. Early figures included in today’s report suggest transaction prices nationally rose by an average of 7.4% during 2025, compared to an increase of 8.7% in 2024 and 4.6% in 2023
The property website said that across the country, list prices are now 41% above pre-Covid levels and 10% below Celtic Tiger peaks. The increase in prices since Covid has been uneven across the country, with an increase of 28% in Dublin but 67% in Connacht-Ulster.
In the last quarter of the year, the average price nationwide for a three-bedroom semi-detached home was €423,000 – or €3,795 per square metre.
The report also details how the number of second-hand homes for sale on December 1st was just over 11,500. This is an increase of 7% on a year ago but less than half pre-covid levels.
Nationwide, on 1 December, there were some 11,551 second-hand homes for sale. The average number of second-hand properties on the market for 2015-2019 was over 26,000, meaning supply has slumped by 56 per cent.
Compared to the 2015-2019 average, supply is now most limited in Munster (-70%) and in Connacht-Ulster (-65%). In the year to November, there were over 53,000 second-hand homes listed for sale nationwide.
Author of the report, Ronan Lyons, Professor in Economics at Trinity College Dublin, commented: “List prices rose by 5.5% in 2025, compared to 6.8% in 2024. And early indications are that transaction prices (based on transactions matched to listings) rose by 7.4% compared to 8.7% in 2024.
“Nonetheless, despite the modest decline in the speed of increases, the market remains very tight. As our market heat measure shows, the gap between the initial list price and the ultimate transaction price is close to a record high, at over 6%.
“The volume of second-hand homes put up for sale over the course of the year was just over 53,000 – this down compared to peak in early 2023 of 63,000, before the interest rate shock kicked in. And it’s also down about 10% compared to the pre- covid level.
“A fall-off in supply of about 10% is one thing. But trends in availability on the market – which reflects both supply and demand – are worse. There were only 11,500 second-hand homes available to buy on December 1. While that’s up 7% year-on-year, it is less than half the pre-covid average of over 26,000. And Dublin partially offsets this, as its supply picture is rosier than elsewhere.
“All of this is reflected in regional differences in the rate of price increases, shown opposite. Dublin had a smaller percentage increase in prices in 2025 than other regions – a repeat of the pattern since 2020. Prices are up 28% in the capital since 2020Q1 – but up by 67% in Connacht-Ulster (outside of Galway city).”