Analysis: Property prices are still rising, not just because of supply but because of wages, demographics and population size
Property prices in Ireland continue to be on the rise. The latest Property Price Index figures from the Central Statistics Office show that prices increased by 7.8% overall (8.0% on houses and 6.6% on apartments) in the 12 months to June 2025. The figures also showprices have been going up every month for two years now.
The figures use the median price rather than the average: this gives a more accurate picture because the median isn’t skewed by extreme outliers in the figures. While the median price of a dwelling purchased in the 12 months to June 2025 was €370,000, there are big differences across the country: The highest median price for a home (house or apartment) in the 12 months to June 2025 was €675,000 in Dún Laoghaire-Rathdown, while the lowest median price was €190,000 in Leitrim.
The region with the highest median price was Dublin, with a median price of €486,000. Within Dublin, the most expensive area was Dún Laoghaire-Rathdown, where the median price was €675,000. The least expensive area within Dublin was Fingal, which had a median price of €460,000. Outside of Dublin, the most expensive region over the last 12 months was Wicklow, with a median price of €450,000. The second most expensive region was Kildare, which had a median price of €425,000. The least expensive region over the last 12 months was Leitrim, where the median price paid for a dwelling was €190,000.
The CSO also shares housing data broken down by Eircode, with a visualisation showing median prices by type of dwelling, the volume of sales and the types of buyers. This data shows the most expensive Eircode area over the 12 months to June 2025 was A94 (Blackrock, Dublin) with a median price of €780,000, while F45 (Castlerea, Roscommon) had the least expensive price of €148,000.
Overall, the five most expensive Eircode areas by median price were in Dublin. Following A94 (Blackrock, Dublin), the second most expensive Eircode was D14 (Dublin 14), where the median price was €741,500, and the third most expensive Eircode area was D04 (Dublin 4), which had a median price of €710,000. The Eircode area with the least expensive median price within Dublin was D10 (Dublin 10), where the median price was €312,250.
Outside of Dublin, the most expensive Eircode area over the last 12 months was A98 (Bray, Wicklow), with a median price of €549,999. The second most expensive Eircode area was A63 (Greystones, Wicklow), which had a median price of €515,000.
Search your Eircode in the table below to see median prices in your area
Eircode area over the last 12 months was F45 (Castlerea, Roscommon), with a median price of €148,000. The second least expensive Eircode area was F35 (Ballyhaunis, Mayo), where the median price was €159,000. The third least expensive Eircode area was F93 (Lifford, Donegal), which had a median price of €172,141.
“Because for the last three years 95% of all new housing in Dublin, for example, has been apartments, and 95% of those have been for rent, what you’re going to see is house price inflation outside, in the greater Dublin area and going further out to your Westmeaths and your Longfords and places like that,” says Dr Lorcan Sirr, Senior Lecturer in TU Dublin and housing policy analyst.
“You’re going to see more of that as people move further away from the urban core to buy homes, because there’s nothing to buy in in the large urban areas. It’s the same in Cork but to a lesser extent. You’re going to see house price inflation continue, because the drivers of house price inflation aren’t just the number of houses. It’s also things like wages. Then there’s demographics, the population is going up.”
For example, public sector workers just saw a 1% increase in wages following a public service agreement, which is a 3% increase in borrowing power. “So there’s a whole load of other factors aside from the actual number of houses that we have, that influence house prices – and none of those are going in the right direction [for house prices to come down].”
“There’s nothing there that indicates to me that house prices are going to come down,” he says. “The other factor is, people forget that of all the houses we build every year, in the last four or five years, less than 30% of them actually come to your estate agent for you to go and buy. The rest of them are snapped up by the State, or one-off homes and so on. There’s less and less actual supply on the market.”
“I suspect what you’ll find is price inflation gathering pace further and further away from urban cores, as people move because nobody wants to rent. Yet government policies are directed towards incentives to rent. It’s bizarre.”
