Irish house prices nationally rose by an average of 9 percent in 2024, according to the latest report from property website Daft.ie.
The House Price Report, offering an analysis of trends in the Irish residential sales market in the fourth quarter of 2024, notes that the average listing price across the country at the end of the year was €332,109.
The figure represents a 1.4 percent increase on the third quarter (July-September) of the same year, marking only the second time in 15 years that prices have risen in the final quarter.
“If the goal of policymakers is to ensure stable housing prices, then, this has been the least successful year for policymakers since 2017, when prices rose by roughly the same proportion,” said report author Ronan Lyons, an associate professor of economics at Trinity College Dublin.
The average price for listed homes in Dublin is now €442,909, compared with €389,742 in Galway city, €347,263 in Cork city, €284,138 in Limerick city and €247,236 in Waterford city.
Meanwhile, second-hand homes are also at an all-time low in terms of availability, with the total number of second-hand homes available to buy December 1 less than 10,500, down 15 percent year-on-year and the lowest on record back to the start of the series in January 2007, according to the report.
In his comment on the report, Lyons said that the volume of second-hand homes listed for sale
fell from 67,000 in 2019 to 45,000 in the year to March 2021, during the Covid pandemic.
While the supply recovered over the following two years, peaking at 63,000 homes listed for sale during
2022, “that number has fallen steadily every month since”.
“In the year to December 2024, just over 51,000 homes were listed for sale”, which is identified as “the lowest since mid-2021”.
Speaking on RTÉ’s Morning Ireland, Lyons said that “aside from tinkering with the fixed rate rules and regulations, the underlying solution is to get more homes built”.