A new property survey for the first quarter of the year reveals that the average price of a resale property in Dublin has reached €593,936, marking an increase of over €50,000 since the end of March 2024, reports RTE.
The latest residential market review from estate agents DNG indicates that resale property prices in Dublin rose by 1.9% during the first three months of 2025.
According to DNG, strong buyer demand combined with a limited supply of available properties has contributed to the continued rise in prices, reports RTE.
DNG’s House Price Gauge (HPG) shows that house price inflation in Dublin remained steady at 9.6% for the 12 months leading up to March 2025.
This annual rate matches the full-year figure for 2024 and is the highest level of price appreciation recorded by the HPG in more than three years, reports RTE.
DNG reported that west Dublin saw the highest rate of price growth in the first quarter, with an average increase of 2.8%, compared to 1.9% on Dublin’s southside and 1.4% on the northside of the city.
Property prices in west Dublin are now just 1.3% below their previous peak in 2006 and have surged by 160% since 2012, when the market last hit a low.
The annual rate of house price inflation recorded by the HPG for March 2025 was 10.9% in south Dublin, 8.6% in north Dublin, and 7.8% in west Dublin, reports RTE.
The report also highlights that first-time buyers remained active in the second-hand market during the first quarter of the year, accounting for 49% of property purchases.
However, this represents a five-percentage-point drop from the same period in 2024, when first-time buyers accounted for 54% of resale home sales.
DNG’s buyer analysis further reveals that 65% of all homebuyers relied on mortgage financing, while 24% used cash or alternative financing methods to complete their purchases, reports RTE.
Meanwhile, the DNG Apartment Price Gauge (APG), which tracks trends in Dublin’s apartment market, recorded a 1.9% price increase for apartments in the first quarter of 2025.
Apartment prices in the capital have risen 7.7% over the past year, more than twice the inflation rate recorded by the APG for the 12 months leading up to March 2024 (3%).
According to DNG, the average resale apartment price in Dublin now stands at €395,436, reports RTE.
DNG Director of Research Paul Murgatroyd attributed the price increase to strong demand at the entry-level market in Dublin, combined with a shortage of available second-hand homes.
“As a result, it is not surprising that the most significant price growth was recorded in west Dublin and among starter homes in the first quarter,” he noted.
“While rising prices create challenges for buyers trying to enter the market, recent interest rate cuts and greater mortgage competition have provided some relief, improving mortgage approval rates for buyers,” he added, reports RTE.
DNG CEO Keith Lowe stated that the company has observed competitive bidding by multiple buyers on most properties listed for sale so far this year.
“Our research shows that in the first quarter of the year sales were agreed at an average of 6.5% above asking price, and that 87% of the sales agreed in the period were at or above the property’s asking price,” he said, reports RTE.
“The historically low levels of supply coming to the resale market in recent times remains a grave concern for the residential property has resulted in strong competition for available properties, meaning prices are being pushed upwards, particularly for properties in walk-in condition with good energy efficiency ratings,” he added, reports RTE.
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