Ireland house prices rose by 8.1% this year

House prices in Ireland increased by 8.1% in the year leading up to January, according to the Central Statistics Office (CSO). This marks the 17th consecutive month of rising prices. The median price of a home sold during this time was €359,999. In Dublin, property prices rose by 7.5%. Outside the capital, prices increased by 8.6% compared to January 2024. Dun Laoghaire-Rathdown reported the highest median property price at €662,349. In contrast, Leitrim had the lowest at €180,000. The area with the highest median price was A94 Blackrock at €743,500, while Clones, Co Monaghan had the most affordable properties at €133,000. The north and north-west of Ireland experienced the most significant growth in house prices, rising by 12.7%. Conversely, the mid-east region saw a smaller increase of 5.8%. Meanwhile, apartment prices increased by 5.8%. Just a day before this report, the Central Bank projected that the government will not meet its housing construction targets in the next three years. They estimate that only 35,000 homes will be built this year, which is 6,000 short of government goals. Rachel McGovern, Deputy Chief Executive at Brokers Ireland, emphasized the urgent need for government action. She called for more effective initiatives to improve housing rather than just setting targets. McGovern insisted on the importance of expediting housing infrastructure and land rezoning. She urged the government to act decisively and not let another year pass without addressing these issues.