House prices rose five per cent in Offaly over past year
The typical price of a three-bedroom semi-detached house listed in the county was €286,000
Listed prices for houses in the second quarter of 2026 were on average 5.1% higher than a year ago in Offlay, a new survey has found.
The typical price of a three-bedroom semi-detached house listed in the county was €286,000.
The average list price nationally rose by 3.8% in the year to June 2026, according to the latest Daft.ie Sales Report released today by Ireland’s largest property website, Daft.ie
This is down almost half from the rate of 6.8% seen a year earlier. Nationally, the average price of a three-bed semi-detached home in the second quarter of the year was €445,000.
Listed prices are now, on average, 44% above their pre-Covid levels and just 8% below their Celtic Tiger peak.
A similar easing is evident in transaction prices. Analysis of transactions registered in the Property Price Register and matched to the Daft.ie database suggests that prices rose by 3.2% in the year to June – the slowest rate of increase since 2023.
In quarterly terms, transaction prices rose by just 0.6% between March and June.
The typical gap between the initial listed price and the ultimate transaction price – a measure of market heat – narrowed to 5.5% nationally, down from 6.8% a year earlier, as competition between buyers eased.
Beneath the national figures, a two-speed market has emerged, with the slowdown led overwhelmingly by the cities. In Dublin, list-price inflation has roughly halved over the year, to 3.0%, while early indications suggest that transaction prices are slightly lower than this time a year ago – the first annual decline since 2023.
Across the four other major cities, list prices are now essentially flat, at -0.2% year-on-year. By contrast, inflation remains strong outside the cities, at 4.8% in Leinster, 6.3% in Munster and 8.8% in Connacht-Ulster.
These differences are closely linked to trends in supply. On June 1st, there were just over 13,100 second-hand homes for sale nationwide, up 6% on a year ago but still only around half the pre-pandemic norm of over 26,000. The improvement is concentrated in urban markets: availability in Dublin is now close to its pre-Covid average, while supply remains tightest in Munster outside the cities (66% below the 2015-2019 average) and in Connacht-Ulster (down 64%).
Commenting on the report, its author Ronan Lyons, Professor in Economics at Trinity College Dublin, said: “The defining theme of the second quarter is a broad-based slowdown in price inflation – but it is far from uniform. We are seeing a genuinely two-speed market: cooling in and around the cities, where supply is at last recovering and competition between buyers is easing, but still running hot across much of rural Ireland, where availability remains acutely tight. In Dublin in particular, transaction prices have actually begun to edge down, the first annual fall in over two years.
What is striking this quarter is where the activity is coming from. In the year to March, the number of homes changing hands rose by just over 3%, but that growth was driven entirely by newly built homes, sales of which were up 17%. The second-hand market – still by far the largest potential source of supply – is effectively stuck. New construction is hugely important, and the country needs to be building well above 60,000 homes a year, not under 40,000. But new-builds alone cannot rebalance the market. That has to come from greater churn among the 1.4 million owner-occupied homes in the country – most likely as more owners roll off the fixed-rate mortgages taken out during the rate shock of the early 2020s. Until second-hand supply responds, overall activity will remain well below what a healthy market requires.”