Irish house price growth eased slightly in July, with prices rising by 5.5% in the year compared with a 5.6% increase in June.
The latest figures from the Central Statistics Office (CSO) show that Dublin property prices increased by 4.4% over the 12 months, while prices outside the capital rose by 6.4%.
The median price paid for a home in the year to July was €399,999. Dún Laoghaire-Rathdown recorded the highest median price at €684,411, while Longford had the lowest at €200,000.
The CSO said the residential property price index outside Dublin is now more than three times higher than its May 2013 low.
There were 4,769 dwelling purchases by households recorded with the Revenue Commissioners in July, with a total value of €2.17bn. These included 3,418 existing homes and 1,351 new dwellings.
Revenue data also recorded 2,035 first-time buyer purchases during the month.
Sorcha Timoney, Mortgage Team Manager with NFP Ireland, said the latest figures showed a “gradual cooling” in the market.
“Today's figures show that house price growth has slowed further, continuing the gradual cooling we've seen since the start of the year,” she said.
However, she noted that buyer activity remained strong, with recent Banking and Payments Federation Ireland figures showing mortgage approvals had reached a 15-year high in July.
“First-time buyers are driving the market, accounting for well over half of approvals,” Timoney said.
Trevor Grant, chairperson of the Association of Irish Mortgage Advisors, said the easing in price growth would be welcome for first-time buyers, but warned that it would not necessarily make homes affordable for those struggling to enter the market.
“The rate of house price growth has been falling since February 2026 and while slight, the ongoing let-up in house price growth will be welcome news to the many first-time buyers struggling to get onto the property ladder,” he said.
Grant also cautioned that July is traditionally a quieter month for property transactions and that stronger activity during September and October could affect the pace of price growth.
He estimated that house price inflation would be “around 4% this year”.
According to Grant, the fundamental issue remains the shortage of housing, combined with pent-up demand and population growth.
“Ultimately, the biggest driver of Irish house price inflation is the shortage of homes coupled with the pent-up demand for housing and an expanding population,” he said.
He called for Budget 2027 measures to stimulate housing supply and reduce construction costs, while also urging the Government to provide financial supports for first-time buyers and those seeking to trade up.
Timoney also advised existing homeowners to review their mortgages as property values rise.
“Existing mortgage holders should not assume they're already on the best available rate,” she said, pointing to continued competition between lenders and the potential impact of changes in interest rates.
