Q2 Average House Price Survey 2025

Frustrated house buyers in Dublin are once again turning to commuter counties as first-time purchasers search for affordability, the latest REA Average House Price Index has revealed.

While actual selling prices in Dublin city rose by 2.6pc in the last three months, REA agents have noticed fewer first-time buyers at recent viewings.

The average three-bed semi in the capital is now selling at €572,693 – a 9pc annual rise of almost €50,000, while homes in Cork city hit €400,000 for the first time.

But the country’s biggest rises this quarter came in the commuter belt, as selling prices increased by 3.1pc to €361,319.

The REA Average House Price Index concentrates on the sale price of Ireland's typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.

The actual selling price of a three-bed, semi-detached house across the country rose by 2.7pc in the past three months to €347,912, and 10.3pc overall annually.

“Our agents are reporting a noticeable slowdown in viewer numbers in Dublin in the past few weeks, and fewer first time buyers among them,” said REA spokesperson Seamus Carthy.

“This, coupled with a rise in activity in commuter counties, indicates the price sensitivity of the current market, with buyers maybe hitting an affordability ceiling in some cases.

“And while first time buyer sales are down 2pc to 45pc in the capital, according to our agents, they have risen from 60pc to 68pc in commuter counties.

“Pricing has become vital, with REA McGee in Tallaght and Rathfarnham reporting that a 10pc variance in asking price can be the difference between a property going sale agreed in weeks or sitting on the market for far longer.”

The commuter belt increases were particularly felt in Kildare, where Newbridge, Naas, Maynooth and Celbridge all experienced three monthly price rises of 5pc.

The average three bed semi in Kildare is selling for €444,750, an increase of €21,000 on the March figure, but €130,000 less than the equivalent property in Dublin city.

“We are seeing strong viewer numbers in Kildare, and if homes are priced correctly, they are going sale agreed in four to five weeks, according to our agents REA Brophy Farrell,” said Mr Carthy.

Louth prices increased by €10,000 (3.4pc) in the quarter, a 13pc annual increase, with lack of supply driving residential increases, according to Darina Collins of REA O’Brien Collins.  

Homes in Cork city hit €400,000 for the first time as prices in the major cities outside the capital rose by an average of 1.5pc to €360,605 in the last three months – an annual rate of increase of 8pc.

“With the scarcity of stock and falling interest rates, we predict the second-hand market will continue to increase in 2025,” said Michael O’Donoghue of REA O’Donoghue & Clarke, Cork, as prices on Leeside increased by 1.3pc this quarter.

Homes in Galway city rose by €5,000 to €385,000 (1.3pc), while Limerick (€330,000) and Waterford (€327,419) rose by 1.5pc and 2pc respectively.