Dublin house prices soared by 9 per cent in 2024.
The latest Daft.ie house price report showed the average price in the capital now standing at a staggering €443,000 – 19 per cent above the level seen at the start of the pandemic. The typical listed price nationwide in the final three months of 2024 was €332,109.
That’s up 1.4 per cent increase from the third quarter of the year – and a whopping 30 per cent rise since the start of the pandemic. Prices in Dublin rose for the fourth consecutive quarter, with the average increase of 9 per cent during 2024 matching the national average and marking the highest rate of inflation seen in the city since late 2017.
South county Dublin leads the country with the highest average house price at an eye-watering €682,110 – a rise of 10.9 per cent on last year. South Dublin city is second nationally with an average of €476,253, up 9.1 per cent, while north Dublin city sits fourth on €404,835, up 7.8 per cent.
The Daft 2024 Q4 house price infographic
Elsewhere in the city, the average home in north county Dublin costs €402,832, up 11.8 per cent, while in west Dublin the average price is €374,426, up 9.4 per cent. In the city centre, the average home costs €390,575, up 6.3 per cent. .
Galway city saw a similar increase to Dublin, while Limerick city prices rose by 8.2 per cent. In Cork and Waterford cities, average prices rose by 6.3 per cent during 2024.
Outside the cities, inflation ranged from 11.1 per cent in Leinster to 5.3 per cent in Connacht-Ulster. The report also found the total number of second-hand homes for sale on December 1st plummeted to under 10,500 – a 15 per cent drop from last year, and the smallest figure ever recorded by Daft since it started tracking these stats in 2007.
Trinity College Dublin economist and report author Ronan Lyons said: “2024 saw the largest increase in listed prices since 2017. And, unlike earlier in the 2020s, Dublin is now driving price growth, with its rate of inflation ahead of the other cities.
“This is, once again, a story of weak supply and strong demand. If the goal of policymakers is to ensure stable housing prices, then, this has been the least successful year for policymakers since 2017, when prices rose by roughly the same proportion.”
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