Irish house price growth slows to three-year low amid tighter affordability
House price inflation in Ireland fell to 3.9% in the July-September quarter, the slowest in three years, as higher rates and affordability pressures curb demand.
According to MyHome’s latest barometer, house price inflation dropped to 3.9% between July and September, the lowest rate in three years, as borrowing costs and stretched affordability dampen buyer interest. Asking prices fell 1.4% across the nation, with the median transaction price now €412,000, or 7.7 times the average annual salary of €54,000. In Dublin, annualised price growth was 2.1%, compared with 4.8% outside the capital, and the median asking price for new listings stood at €480,000.
The market saw a boost from a record 38,000 homes built to date, enough to house 100,000 people, surpassing population growth for the first time. Listings on MyHome rose 12.5% year-on-year, reaching 14,630 properties, though existing home sales are expected to decline for a fourth quarter. Bank of Ireland’s chief one outlet highlighted that buying remains financially sensible versus renting, given rental yields still exceed mortgage rates.
Why it matters
Slowing price growth and rising supply could make homeownership more attainable for Irish buyers.
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