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.

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.

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.

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.

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.

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.

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

Ireland IE: Foreign Direct Investment Income: Inward: USD: Total: Real Estate Activities data was reported at 583.068 USD mn in 2023. This records an increase from the previous number of 66.315 USD mn for 2020. Ireland IE: Foreign Direct Investment Income: Inward: USD: Total: Real Estate Activities data is updated yearly, averaging 66.332 USD mn from Dec 2012 (Median) to 2023, with 10 observations. The data reached an all-time high of 583.068 USD mn in 2023 and a record low of 0.000 USD mn in 2014. Ireland IE: Foreign Direct Investment Income: Inward: USD: Total: Real Estate Activities data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Ireland – Table IE.OECD.FDI: Foreign Direct Investment Income: USD: by Industry: OECD Member: Annual. Reverse investment: Netting of reverse investment in equity (when a direct investment enterprise acquires less than 10% equity ownership in its parent) and reverse investment in debt (when a direct investment enterprise extends a loan to its parent) is applied in the recording of total inward and outward FDI transactions and positions. Treatment of debt FDI transactions and positions between fellow enterprises: directional basis according to the residency of the ultimate controlling parent (extended directional principle). FDI transactions and positions by partner country and/or by industry are available excluding and including resident Special Purpose Entities (SPEs). The dataset 'FDI statistics by parner country and by industry - Summary' contains series including resident SPEs only. Valuation method used for listed inward and outward equity positions: Market value, Own funds at book value. Valuation method used for unlisted inward and outward equity positions: Own funds at book value. Valuation method used for inward and outward debt positions: Market value .; FDI statistics are available by geographic allocation, vis-à-vis single partner countries worldwide and geographical and economic zones aggregates. Partner country allocation can be subject to confidentiality restrictions. Geographic allocation of inward and outward FDI transactions and positions is according to the immediate counterparty. Intercompany debt between related financial intermediaries, including permanent debt, are not excluded from FDI transactions and positions. Direct investment relationships are identified according to the criteria of the Framework for Direct Investment Relationships (FDIR) method. Debt between fellow enterprises are completely covered. Collective investment institutions are not covered as direct investment enterprises. Non-profit institutions serving households are covered as direct investors. FDI statistics are available by industry sectors according to ISIC4 classification. Industry sector allocation can be subject to confidentiality restrictions. Inward FDI transactions and positions are allocated to the activity of the resident direct investment enterprise. Outward FDI transactions and positions are allocated according to the activity of the resident direct investor. Statistical unit: Enterprise.

The real estate properties with the largest transactions in the third quarter of 2020 in Dublin, Ireland are shown in this statistic. Cheevers Court and Holiday House, Cualanor, and Dun Laoghaire had the largest transaction worth about 195 million euros. The second-largest transactions recorded were worth 145 million euros by The Prestige Portfolio.

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.

Over the five years through 2024, revenue is forecast to climb at a compound annual rate of 7.1% to €3.4 billion. Revenue growth in the plumbing, heating and air conditioning installation industry is driven by the need for regular maintenance services on these systems. Such maintenance ensures that water and heating systems function correctly, preventing issues like leaks, blockages and inefficiencies. Also, the push for more energy-efficient heating and cooling systems in commercial and residential properties has expanded industry growth prospects. However, growth fluctuates with economic and investment cycles. Persistent inflation has led to economic uncertainty, constraining industry growth prospects and limiting commercial and private residential spending on system upgrades. Disruptions caused by the pandemic slowed revenue growth to 3.6% in 2020. However, in 2021, revenue surged by 21.2% as construction output rebounded following the lockdown periods. Despite the recovery in 2021, economic conditions worsened in 2022 resulting from supply chain disruptions caused by the Russia-Ukraine conflict. These disruptions caused construction material prices to explode, leading to escalating operating costs for plumbing and HVAC contractors, which limited their profitability. Inflationary pressures have limited private investment in the construction sector due to low investor and consumer confidence. However, as inflation slows in 2024, homeowners and businesses are gradually regaining confidence, stimulating demand for plumbing and HVAC repairs and upgrades. Revenue is expected to grow by 3.2% in 2024, supported by government policies aimed at increasing the housing stock and the ongoing maintenance of existing systems. Revenue is forecast to grow at a compound annual rate of 4.4% to €4.2 billion over the five years through 2029. Ongoing investment in the housing market, in line with supportive government policies, will continue driving demand from the residential sector. Improving economic sentiment will also aid investment levels, and investors, businesses and consumers will ramp up spending levels, stimulating tender opportunities for plumbing and HVAC contractors. Moreover, increased investment into trade apprenticeships will help bridge the skills gap in the plumbing and HVAC industry, enhancing the supply of qualified professionals to meet Ireland's growing housing and emissions targets.

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.