Will property prices in Ireland continue to rise?

Property prices in Ireland: The current situation

House prices in Ireland have experienced sustained and robust growth in recent years, leaving many wondering when or if the momentum will slow or reverse.

The Residential Property Price Index, which tracks the price of homes and flats sold in Ireland over time, is now 26.5 per cent above its April 2007 peak, and has grown by more than 180 per cent since early 2013.

> Also read: What you need to know about the Residential Property Price Index

In short, this means that the national median house price in Ireland was €400,000 in the 12 months to August 2026, according to official statistics. However, in some Eircodes, such as A94 in Dublin, the median price was more than double that at €850,500.

Meanwhile, house prices in popular cities like Cork, Galway and Limerick have also experienced sustained growth, and official figures show that house prices actually rose more outside Dublin in the year to August 2026 as buyers on the hunt for better value began to look beyond the capital. Nationally, growth has slowed to 5.1 per cent, the lowest annual rate since December 2023.

> Also read: How long it takes to sell a home in Ireland

Will property prices rise or fall?

While forecasts are never 100 per cent certain, and a lot can change quickly, property experts and economists generally agree that house prices will continue to grow – but that the growth will moderate.

The Central Bank of Ireland expects a significant increase in housing output out to 2028, but warns that it now takes around four years for new homes to go from planning application to completion.

In the medium term, researchers at The Economic and Social Research Institute (ESRI), have suggested that housing supply will remain short of demand, keeping pressure on prices.

In the short term, Bank of Ireland expects house prices to increase by around 4 per cent in 2026, while estate agents surveyed by the SCSI expect a 5 per cent rise over the next 12 months.

What will happen in the most popular cities?

Dublin:

• The property market in the capital has cooled, with Daft.ie data pointing to the first annual fall in Dublin sale prices since 2023. House prices are expected to continue rising, though not as explosively as in recent years.
• Nearby commuter counties like Kildare and Meath are likely to experience steady increases in demand and prices.

Cork:

• Property price rises in Cork have been robust, with asking prices in Cork city up 5.1 per cent over the past year.
• Prices are increasing in both Cork City and Cork County. However, average prices in Cork County as a whole are lower than in Cork City.

Limerick:

• Price growth in Limerick city has slowed, with asking prices up 1.9 per cent over the past year, but the supply shortage persists.
• Prices are expected to continue rising in the coming years as demand will continue to outpace supply.

Galway:

• Asking prices in Galway city are up 4.4 per cent over the past year.
• Galway is seen as one of the epicentres of the nationwide trend of increased demand and limited supply.
• Moving forward, price rises are expected to continue across County Galway.

Why property prices in Ireland are rising

In short, the strong upward trend in Irish property prices is largely linked to a lack of new houses being built.

While the Irish government has made housebuilding a priority, and 36,284 homes were completed in 2025, the highest annual total since the CSO series began in 2011, it still isn't building the 50,000 new homes a year that its own housing plan aims for.

The lack of new builds hitting the market is made worse by too few second-hand homes being put up for sale, around half the pre-pandemic level, increasing pressure on prices.

Furthermore, rising incomes have led to more people wanting to either climb a few rungs on the property ladder or purchase a home for the first time, even though interest rates began rising again in June 2026.

This has created a competitive market in Ireland where homes for sale are more likely to receive multiple offers from prospective buyers.

What this means if you are looking to sell in the next few years

Whether now is the perfect time to sell will depend a lot on your own situation. However, there are a handful of other things that you should take into consideration.

Given how much prices have risen, your home may be worth more than you think, so getting a valuation from an estate agent can't hurt.

Additionally, with experts in agreement that the huge price surges of recent years are now slowing down, selling in the next few years could prove opportune as fears over the affordability of homes in Ireland could dampen demand.

Although some parts of the country will see more moderate house price increases, other areas like Connacht, Ulster and commuter counties could continue to see strong price rises regardless of whether the market performs to expectations.

Selling soon?

If you're considering selling soon, take a few minutes to fill out our form – and we will match you to local estate agents. If now isn't quite the time to sell, feel free to return to Estateagent.ie when the timing is right.

Our service is free and non-binding, and the CCPC (Competition and Consumer Protection Commission) recommends talking to a few estate agents and choosing the one who you think will best handle the sale.

> Also read: 5 things to consider when you compare estate agents