Asking prices for houses and apartments are rising at 7% annually, according to the latest quarterly report by property website MyHome.ie in conjunction with Bank of Ireland.
The report said asking prices outside Dublin are rising by 7.9% and prices in the capital are up 5.1%.
According to the report, the average mortgage approved in May was €337,000, up 6.7% on the year.
The MyHome.ie report shows that the typical residential transaction is being settled 7.5% above the original asking price.
“Uncertainty following President Trump’s announcement of ‘Liberation Day’ tariffs hasn’t been sufficient to dent Ireland’s housing market,” said Bank of Ireland chief economist Conall Mac Coille.
“Another factor at play is the loosening of the Central Bank mortgage lending rules.
“The average first-time-buyer borrowed 3.4 times their income in 2024, up from a 3.2x multiple in 2022. This change has pushed up house prices by €15,000 to €20,000,” he added.
Mr Mac Coille said there is likely to be some improvement in house completions this year, but delivery will still fall “well short of 50 – 60,000 units required”.
