Annual asking prices in Ireland increased by 8.1% nationwide during Q1 2025 according to a report from MyHome, in conjunction with Bank of Ireland.

Prices in Dublin have risen by 6.2% and by 9.2% in the rest of Ireland over the past 12 months, with the average mortgage loan for house purchase’s now almost €320,000, an increase of 7% on the year.

Conall MacCoille, Chief Economist at Bank of Ireland, said: “Record low supply and continued surging demand are still driving the property market, but risk here is that Ireland’s relatively thin, illiquid housing market, reliant on those at the top of the income distribution could be exposed to a sudden negative economic shock, such as the risk of a US-EU tariff war, especially if it were to disproportionately hit employment in the high-paid multinational sector.”

Asking prices nationally rose by 1.7% on the quarter, by 2.6% in Dublin and by 1.1% in the rest of the country. The median asking price for new instructions nationally in the quarter was €375,000. In Dublin it was €450,000 and in the rest of the country it was €315,000.

MacCoille warned: “The average Irish residential property transaction of €404,000 was an eight-times multiple of average annual earnings of €51,000. This is the most stretched Irish house prices have become relative to income since 2009.”