Irish house prices rose at an annualised rate of 7 per cent in January while the average price paid for a home in Dublin is now close to €600,000.
With prices continuing to be fuelled by a lack of supply, the Central Statistics Office’s (CSO) latest Residential Property Price Index indicated that values nationally rose by 7 per cent year on year in January, up from a rate 6.9 per cent the previous month.
Property price inflation in the capital was recorded at 6.1 per cent, up from 5.6 per cent in December, while prices outside Dublin were up by 7.7 per cent compared with January 2025.
The figures indicated that the average price of a home purchased in the 12 months to January was €432,082 while the average in Dublin was €592,594.
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The average price paid in Dún Laoghaire-Rathdown, the most expensive local authority area, was €789,619.
In terms of median prices – the price above which one half of all sales are higher and the other half lower – the figure across the State in the 12-month period was €389,986. High prices at the upper end of the market tend to distort the average which is why statisticians considers median prices more reflective of the overall market.
The highest median price was €680,000 in Dún Laoghaire-Rathdown, while the lowest was €195,000 in Donegal.
The Government’s revamped housing plan aims to deliver a total of 300,000 new homes by 2030.
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While the national increase is 7 per cent in the year to January, that reflects significant disparities across the State.
Prices are rising fastest for houses in the Midlands, up 15.9 per cent of the 12 months, and lowest in Fingal where houses were costing just 3.8 per cent more than last year.
Prices for apartments (9.1 per cent nationally) are rising faster than for houses (6.6 per cent) over the past 12 months. And, within the apartment sector, apartments outside the capital are seeing increased demand, with prices 12.9 per cent up on January 2025.
The CSO’s figures indicate that first-time buyers with the aid of State supports, were responsible for 39 per cent, or 19,742, of purchases in the 12 months to January. They accounted for a slightly higher 41 per cent in January itself.
They also indicated that, in January, details of 3,781 homes worth €1.66 billion bought by households were filed with the Revenue Commissioners. Of these purchases, 2,686 were existing homes and 1,095 newly built.
“The report shows that it’s been a strong start to the year for the housing market, with national house price growth increasing by 7 per cent in the year to January 2026,” Trevor Grant, chairman of Irish Mortgage Advisors, said.
“The rate of house price growth is also up and this uptick will dampen the spirits of many of those hoping to trade up or get their foot on the property ladder this year,” he said.
“Furthermore, now we are into spring, momentum is building up in the housing market again and this could drive the rate of house price inflation up even higher in the coming months.”
