Average price of second-hand home in Dublin nears €600,000
A new property survey for the first quarter of this year shows that the average price of a resale property in Dublin stands at €593,936, an increase of over €50,000 since the end of March 2024.
The latest residential market review from estate agents DNG shows the average price of a resale property in Dublin increased by 1.9% in the first three months of the year.
DNG said that strong demand along with the very low level of available stock on the market served to drive prices higher.
DNG’s latest House Price Gauge (HPG) shows that the annual rate of house price inflation in Dublin remained at 9.6% for the 12 months to the end of March 2025.
This was the same as the annual rate recorded for the full year 2024, and the highest annual rate of price appreciation recorded by the HPG in over three years.
DNG said it saw the strongest rate of price growth in west Dublin over the first three months of the year, with prices increasing by 2.8% on average, compared to rates of increase of 1.9% on Dublin’s southside and 1.4% on the northside of the city.
Prices in west Dublin are now only 1.3% below the previous peak level recorded by the HPG in 2006 and have risen in this area by 160% since the last market low point in 2012.
The annual rate of price inflation recorded by the HPG to the end of March 2025 stands at 10.9% in south Dublin, 8.6% in north Dublin and 7.8% in west Dubin.
Today’s report reveals that first-time buyers continued to be very active in the second-hand market in the first three months of the year, purchasing 49% of properties over that period.
This is five percentage points lower than the same time last year when first time buyers bought 54% of the resale properties sold.
The DNG buyer analysis also shows that 65% of all purchasers relied on mortgage finance to complete their home purchase, while 24% used cash or non-mortgage finance for their purchases.
Meanwhile, DNG’s Apartment Price Gauge (APG), which measures price movements in Dublin’s apartment market, recorded an increase in apartment prices of 1.9% during the first quarter of the year.
Apartment prices in the capital increased in value by 7.7% in the year to March 2025, more than double the annual rate of inflation recorded by the APG in the 12 months to March last year (3%).
The average price of a resale apartment in the capital now stands at €395,436, DNG said.
DNG Director of Research Paul Murgatroyd said that strong demand, particularly at the entry level to the Dublin market, combined with the very low stock of available second-hand homes for sale, resulted in an uplift in prices during the first quarter of the year, as buyers competed for the limited supply of homes for sale.
“It is therefore no surprise that the strongest price growth during the first quarter was seen in west Dublin and at the starter home level of the market,” he said.
“Whilst higher prices present a greater challenge for buyers trying to get on the property ladder, the recent reductions in interest rates and increased competition in the mortgage market has been welcome and has helped buyers loan approvals for mortgage finance,” he added.
DNG CEO Keith Lowe said the company was witnessing competitive bidding by multiple parties on the vast majority of homes offered for sale so far this year.
“Our research shows that in the first quarter of the year sales were agreed at an average of 6.5% above asking price, and that 87% of the sales agreed in the period were at or above the property’s asking price,” he said.
“The historically low levels of supply coming to the resale market in recent times remains a grave concern for the residential property has resulted in strong competition for available properties, meaning prices are being pushed upwards, particularly for properties in walk-in condition with good energy efficiency ratings,” he added.
Article Source – Average price of second-hand home in Dublin nears €600,000 – RTE
