House prices in Ireland have been on an upward trend since 2013, with a brief period of decline in 2019 and 2020. Although house price growth slowed down in 2022, the nominal prices continued to rise in 2023; however, when adjusted for inflation, the property price development turned negative in the final quarter of 2022. Reasons for this big decline are the rising inflation in Ireland, reduced money lending from the Irish Central Bank, as well as decreased affordability.

How expensive are homes in Ireland? The average list price of residential property in Ireland varied significantly between different counties. In the second quarter of 2023, Wicklow and Dublin were among the most expensive regions in the country, exceeding the national average of around 309,000 euros. Leitrim and Longford, on the other hand, offered the most affordable housing options, averaging below 200,000 euros.

Has income kept up with the development of house prices? The house price-to-income ratio measures the development of housing affordability and is calculated by dividing the nominal house price by the nominal disposable income per head. Between 2015 and 2023, the house price-to-income ratio in Ireland grew by nearly 17 index points, which means that house values increased in relation to earnings. This makes homeownership in Ireland more challenging due to the decreasing affordability of dwellings.

House Price Index YoY in Ireland decreased to 8.10 percent in January from 8.80 percent in December of 2024. This dataset includes a chart with historical data for Ireland Residential Property Prices YoY.

The average costs for residential real estate across Ireland increased steadily over the past decade. The National Price Index reached 201.9 index point in June 2024, meaning that house prices increased by about 101.9 percent since 2012 - the base year for the index. Between June 2023 and June 2024, the price index exhibited an overall increase, with a minor decline in December 2023. In line with this upward trend, the house prices increased across every county.

The average house price in Northern Ireland has increased since 2015, with minor fluctuations over time. The house price index is calculated using data on housing transactions and measures the development of house prices, with 2015 chosen as a base year when the index value was set to 100. In June 2024, the house price index reached 166.8, meaning that house prices have grown by nearly 67 percent since 2015 and 6.4 percent since the same month a year ago. Among the different regions in the UK, West and East Midlands experienced the strongest growth.

Housing Index in Ireland increased to 191.30 points in January from 191.20 points in December of 2024. This dataset provides the latest reported value for - Ireland Residential Property Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

This statistic shows the house price index in Ireland from the first quarter of 2016 to the second quarter of 2020. In the quarter ending June 2020, the house price index stood at 134.17.

During the second quarter of 2024, Wicklow was the priciest county for purchasing residential real estate in Ireland. The average list price of a house in Wicklow was more nearly 431,000 euros. Notably, Dublin's city center and Kildare also joined the ranks of expensive housing areas, with average listing prices surpassing 385,000 euros and 355,000 euros, respectively. In contrast, Leitrim emerged as the most affordable place to buy residential real estate, with an average list price exceeding 198,000 euros. House prices in many counties exhibited an annual increase, with Tipperary reporting the highest, by 15 percent.

Key information about House Prices Growth

• Ireland house prices grew 8.7% YoY in Dec 2024, following an increase of 9.6% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 2006 to Dec 2024, with an average growth rate of 5.3%.
• House price data reached an all-time high of 20.4% in Oct 2014 and a record low of -21.7% in Aug 2009.

The average house price in Belfast has increased since 2015, with minor fluctuations over time. The house price index is calculated using data on housing transactions and measures the development of house prices, with 2015 chosen as a base year when the index value was set to 100. In June 2024, the house price index reached 159, meaning that house prices have grown by 59 percent since 2015 and 6.3 percent since the same month in 2023. Among the different regions in the UK, West and East Midlands experienced the strongest growth.

During the second quarter of 2024, Tipperary recorded the highest percentage increase in the average list price of houses across Ireland. The prices of homes in the county rose by 15 percent on average. Other counties, including Limerick and Clare, saw an increase in the list price of more than 11 percent. Wicklow - the county with the most expensive housing in Ireland - saw an increase of more than four percent. Meanwhile, compared to Wicklow, the price increase in Dublin was relatively lower, at 1.4 percent.

The average transaction price of new housing in Europe was the highest in Norway, whereas existing homes were the most expensive in Austria. Since there is no central body that collects and tracks transaction activity or house prices across the whole continent or the European Union, not all countries are included. To compile the ranking, the source weighed the transaction prices of residential properties in the most important cities in each country based on data from their national offices. For example, in Germany, the cities included were Munich, Hamburg, Frankfurt, and Berlin. House prices have been soaring, with Sweden topping the ranking Considering the RHPI of houses in Europe (the price index in real terms, which measures price changes of single-family properties adjusted for the impact of inflation), however, the picture changes. Sweden, Luxembourg and Norway top this ranking, meaning residential property prices have surged the most in these countries. Real values were calculated using the so-called Personal Consumption Expenditure Deflator (PCE), This PCE uses both consumer prices as well as consumer expenditures, like medical and health care expenses paid by employers. It is meant to show how expensive housing is compared to the way of living in a country. Home ownership highest in Eastern Europe The home ownership rate in Europe varied from country to country. In 2020, roughly half of all homes in Germany were owner-occupied whereas home ownership was at nearly 97 percent in Romania or around 90 percent in Slovakia and Lithuania. These numbers were considerably higher than in France or Italy, where homeowners made up 65 percent and 72 percent of their respective populations.For more information on the topic of property in Europe, visit the following pages as a starting point for your research: real estate investments in Europe and residential real estate in Europe.

The residential market in Northern Ireland took a hit in 2020 due to the coronavirus pandemic, followed by a record-high number of sales in 2021 and two years of decrease. In 2023, there were 23,610 housing transactions, down from about 34,200 the year before. This includes all residential property transactions with a value of 40,000 British pounds and above. The uptick in home purchases resulted in house prices increasing substantially in 2021 and the beginning of 2022.

The house price index (HPI) shows changes in the value of residential properties in England, Scotland, Wales, and Northern Ireland. With the HPI set at a base of 100 in January 2015, a value of over 100 would mark an increase in the average dwelling price. A value of under 100 points, on the other hand, would indicate that the average price has dropped. House price index in the UK The HPI fluctuated in 2023, after peaking in November 2022. In December 2023, the index stood at 149 index points, which was a slight decline from December 2022. This trend in the index, and therefore the value of UK residential properties, has also been observed by the Halifax house price index. Average house prices Average house prices are affected by several factors. Economic growth, unemployment, interest rates and mortgage availability can all drive them up or down. A shortage of supply means that the need for housing and the competitive market created will push house prices up. An excess of housing, on the other hand, means prices fall to stimulate buyers.

172.168 (Pound sterling) in 2020. Simple average house prices

This statistic shows the total verified sales of residential properties in Northern Ireland from 2007 to the third quarter of 2020. It can be seen that pre-recession, total sales amounted to over 29 thousand annually in 2007. Afterwards the number decreased, but rising trends could again be observed in 2011. There were approximately 24,000 housing sales reported for 2019 and less than the half in the first three quarters of 2020.

The Irish housing market has seen a strong surge in the number of new homes completed in the past decade. From 2011 to the first half of 2015, less than 2,000 homes entered the market per quarter. In the following years, this figure grew steadily, peaking at 9,140 homes in the final quarter of 2022. By property type, scheme dwellings comprised over half of the total homes completed in the second quarter of 2023. Apartments constituted almost 26 percent of the completions, whereas single dwellings constituted nearly 20 percent of the completions.