Ireland’s housing market continued to face upward price pressure in 2025, driven by ongoing supply shortages, according to the latest Daft.ie House Price Report. Across the country, the average asking price for a three-bedroom semi-detached home finished the year at just over €423,000, representing a 5.5% increase compared with 2024.
Although price growth eased from the 6.8% recorded the previous year, 2025 marked the twelfth straight year of annual increases. On average, homes listed for sale are now 41% more expensive than before the pandemic and sit only 10% below the peak reached during the Celtic Tiger era.
Sales data based on the Property Price Register and matched with Daft.ie listings indicate even stronger growth in actual transaction prices, which rose by 7.4% over the year. The difference between asking prices and final sale prices has also continued to expand, reaching a national average gap of 6.6% by year-end.
Regional differences
Price trends varied significantly by region. Dublin, typically the most expensive market, recorded the slowest growth, with average prices for three-bedroom semi-detached homes increasing 3.1% to €611,000. Other cities saw prices rise 4.5% to €390,000. In Leinster outside Dublin, prices climbed 7.3% to €363,000, while non-city areas in Munster recorded a 5.7% increase to €300,000. The strongest growth was seen in Connacht-Ulster, excluding Galway, where prices jumped 11.6% to €246,000.
Supply remains the main challenge
Limited housing supply continues to be the central factor behind rising prices. As of December 1, there were 11,551 second-hand homes listed for sale nationwide, up 7% year on year but still less than half the 2015–2019 average of 26,000. Shortages are particularly severe outside Dublin, where supply is 63% below late-2010s levels, compared with a 16% shortfall in the capital.
Ronan Lyons, Professor of Economics at Trinity College Dublin, said demand continues to exceed supply across both asking and transaction prices. He noted that while the slowdown in price growth is encouraging, the number of homes available for purchase has remained far below pre-pandemic levels, maintaining pressure on buyers.
Lyons added that solving the housing crisis will require a significant increase in construction. He argued that a country currently delivering 30,000 to 35,000 homes per year needs to at least double that output across owner-occupied, social, and rental housing to ensure housing supply meets societal needs.
Average Q4 2025 prices for three-bedroom semi-detached homes
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Dublin: €611,000, up 3.1% year on year
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Other cities: €390,000, up 4.5%
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Leinster (excluding Dublin): €363,000, up 7.3%
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Munster (excluding cities): €300,000, up 5.7%
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Connacht-Ulster (excluding Galway): €246,000, up 11.6%
