Annual house price growth eases to 5.6% in June - CSO

The rate of annual house price growth decelerated to 5.6% in June, according to the Central Statistics Office (CSO). The national Residential Property Price Index (RPPI) indicated the average home price increased by 5.6% compared to the previous year, down from 6.1% in May. This marked the lowest growth in almost two and a half years, as property prices have been gradually moderating since peaking at 10.1% in August 2024.

The CSO reported that house price inflation was faster outside of Dublin compared to the capital, with Dublin's prices rising by 4.6% versus 6.4% for the rest of the country. The median price of a home purchased in the year to June was €396,000, with Dún Laoghaire-Rathdown boasting the highest median price at €682,334, while Longford had the lowest at €198,000.

In June, 4,058 home purchases valued at €1.82 billion were filed with Revenue, consisting of 2,973 existing properties and 1,085 new homes. First-time buyers filed 1,705 purchases in June 2026. Irish Mortgage Advisors Chair Trevor Grant noted that while a slowdown would benefit first-time buyers, prices remain on an upward trajectory.

The fundamental issue, Grant emphasized, is Ireland's insufficient home-building to meet demand from an expanding population. The gap between completed homes and demand continues to impact prices, and although 2026 began positively with a 33% increase in new housing completions in Q1 2026, the second quarter's data suggests progress was short-lived, posing challenges for young buyers consistently finding homes unaffordable.