Annual house price growth steady at 6.2% in May – CSO

Property prices rose by 6.2% in the 12 months to May this year, unchanged from the 6.2% in the year to April, new figures from the Central Statistics Office show.

Residential price inflation has been gradually moderating from the most recent year-on-year peak of 10.1% in August 2024.

Today’s CSO figures show that the cost of buying a home was up 4.7% in Dublin and 7.3% outside the capital compared to May 2025.

Nationally, the median average price of buying a home was €395,000.

The median average price for Dublin was €500,000. The most expensive area in the capital was Dún Laoghaire Rathdown at €685,325 and the least expensive was Fingal and Dublin City at €480,000.

Outside the capital, the most expensive region was Wicklow with a median price of €470,000 while the least expensive was Longford at €198,000.

Property prices are now 25% above their highest level at the peak of the property boom in April 2007.

Nationally prices have increased by 180.7% from their low point in 2013 after the property crash which began in 2008.

Dublin prices have risen by 172.8% from their low in February 2012, while prices in the Rest of Ireland are 197.2% higher than their trough in May 2013.

Kate English, chief economist at Deloitte Ireland, said today’s CSO figures underline a familiar reality for the country’s housing market – the need for homes continues to outstrip the pace of delivery.

“While price growth has eased compared to this time last year, particularly in Dublin, it hasn’t removed the pressure on buyers. Prices are still rising around much of the country,” the economist said.

She also noted that inflation is having an impact, with the cost of materials increasing in May to 3.1%, the highest level since August 2023.

“Positive momentum for new supply is clear so far this year. Commencements in the first five months of the year surpassed 13,100 units, the second highest volume recorded over the past decade for this time of year,” Kate English noted.

“In addition, new dwelling completions in the first quarter of 2026 were also their highest volume during this development cycle,” she said.

“At the end of this month, we’ll get new dwelling completion figures for the first half of1 2026. This will be a real housing test for the Government, as we’ll need to see at least 20,000 completions if we are to meet the housing targets this year,” she stated.