Annual house price growth slows to 8% in February – CSO
Residential property prices are up 8% in the 12 months to February 2025, according to the latest figures from the Central Statistics Office.
It means the cost buying a home is continuing to accelerate, but at a marginally slower rate than it was during the previous 12 month period when prices rose by 8.2% in the year to January 2025.
The prices outside Dublin rose 8.7% compared to 7.1% in the capital.
The CSO said the median cost of a property was €360,000 nationally.
The highest median price for a dwelling was €670,000 in Dún Laoghaire Rathdown and the lowest was €185,000 in Leitrim.
The most expensive Eircode area was Blackrock, Co Dublin where the median price of a home was €747,750 while Castlerea, Co Roscommon was the least expensive at €148,000.
“Property prices nationally have increased by 161.6% from their trough in early 2013,” the CSO.
They are also 17.3% above their highest level in April 2007 which was at the peak of the boom, it added.
Gerry Griffin, Senior Mortgage Advisor at NFP Ireland, said that while the rate of increase may have moderated slightly, demand remains strong and continues to outpace supply, especially in urban centres.
He said that until this imbalance is addressed, we are likely to see ongoing pressure on prices.
Mr Griffin said that for prospective buyers, especially those hoping to get on the property ladder, it is crucial to focus on what is affordable in the long term, not just what is technically within borrowing limits.
“Even as mortgage rates show signs of easing, the high cost of property means repayments will remain significant. Lower rates can help with borrowing capacity, but without a meaningful increase in housing supply, they may only fuel further price inflation,” he said.
Article Source – Annual house price growth slows to 8% in February – CSO – RTE
