Irish Property Prices Show Signs of Cooling, But Challenges Remain
The Irish residential property market is exhibiting signs of moderation, with price growth slowing to 6.8% in the year to February 2026, according to the latest figures from the Central Statistics Office (CSO). This marks a slight decrease from the 7.1% increase recorded in January, suggesting a potential shift in the market’s trajectory.
Regional Disparities: Dublin Lags Behind
While the national picture indicates a slowdown, significant regional variations persist. Property prices in Dublin experienced a more modest increase of 5.6% over the same period, trailing the national average. Conversely, prices outside the capital surged by 7.8%. This divergence highlights the ongoing demand for housing in areas beyond the capital city.
Within Dublin, Fingal saw the lowest growth at 2.7%, while Dublin city experienced the highest at 6.8%. Outside of Dublin, the Midlands region (Laois, Longford, Offaly, and Westmeath) led the way with a substantial 15.3% increase, while the Southwest (Cork and Kerry) saw the smallest rise at 4.2%.
Median Prices and Affordability
The median price of a dwelling purchased in the 12 months to February 2026 was €390,000 nationally. However, affordability remains a significant challenge, particularly in certain areas. Dún Laoghaire-Rathdown recorded the highest median price at €681,500, while Donegal offered the most affordable options at €198,000. The most expensive Eircode area was Blackrock (A94) with a median of €841,250, and the least expensive was Castlerea (F45) at €153,000.
Transaction Volume and Market Activity
In February 2026, a total of 3,370 dwelling purchases were filed with the Revenue Commissioners, representing a 3.9% increase compared to February 2025 (3,245 purchases). The total value of these transactions reached €1.47 billion, comprising €1.09 billion for existing dwellings and €380.8 million for new builds. 1,333 of these purchases were made by first-time buyers.
External Factors and Future Outlook
Experts caution that the recent softening in price growth may not be sustainable. Trevor Grant, chairman of Irish Mortgage Advisors, points to the potential impact of global events, specifically the conflict in the Middle East and the resulting surge in oil prices. These factors could drive up building material costs and ultimately push house prices higher again.
The national index of prices is currently 25% above its peak in April 2007 and 179% higher than its low point in early 2013.
Apartment vs. House Price Growth
Across Dublin, apartment prices increased by 7.5% in the year to February 2026, exceeding the 5% growth observed for houses. Outside of Dublin, the disparity was even more pronounced, with apartment prices rising by 13.2% compared to a 7.4% increase for houses.
Frequently Asked Questions
- What is the current national property price growth rate? 6.8% in the 12 months to February 2026.
- Where are house prices growing the fastest? The Midlands region (Laois, Longford, Offaly, and Westmeath) saw the largest growth at 15.3%.
- What was the median house price in February 2026? €390,000 nationally.
- Which county had the lowest median house price? Donegal, at €198,000.
Pro Tip: First-time buyers should carefully consider their financial situation and explore available government schemes to help with affordability.
Did you understand? The most expensive Eircode area in Ireland is A94 (Blackrock, Dublin) with a median price of €841,250.
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