Irish house price growth eases in Q3 as rates and uncertainty curb demand
House prices in Ireland rose only 1.1% in the third quarter, reflecting slower growth as higher borrowing costs and geopolitical worries dampen buyer activity.
Ireland’s housing market showed modest price gains in Q3, with Sherry FitzGerald noting a 1.1% rise in second-hand home values between July and September and a 4.4% increase over the year. The slowdown follows higher interest rates and geopolitical uncertainty that have reduced purchasing power. Despite the price moderation, a persistent lack of homes continues to shape conditions, as stamp-duty figures reveal a 2.3% fall in used-home sales.
Conversely, new-home sales jumped 20.4%, lifting total residential transactions to 22,241, a 2.6% annual increase. Planning permissions, especially for apartments, rose sharply, with approvals up 47% to 8,790, though completion remains uncertain. Sherry FitzGerald’s CEO Marian Finnegan highlighted the need for more serviced land and infrastructure, while Glenveagh Homes’ Stephen Garvey praised recent government policies aimed at delivering 50,000 homes annually.
Why it matters
The slowdown signals how higher rates and limited supply are reshaping Ireland's housing market and affordability.
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