MyHome Q1 2025 Property Report

MyHome have published their latest Residential Property Report.

Main Findings

• Property market’s reliance on higher earners could see negative impact in case of EU-US trade war
• National asking prices up 8.1% over the year, with annual asking prices outside Dublin rising by over 9%
• The average mortgage loan for house purchase is now almost €320,000 – up 7% on the year
• First-time buyer mortgage drawdowns rose to 26,200 in 2024, their highest level since 2007, but mover drawdowns fell to just 9,000 loans, now 20% below pre-Covid-19 levels
• Just 10,800 homes available for sale on MyHome in March 2025 – a fresh record low, while average time to sale agreed is down to 11 weeks
• If economic trade war does not occur, forecast for 5% inflation in 2025 could prove too conservative

Housing market demand ‘vulnerable’ to sudden economic shock

The Irish property market’s disproportionate reliance on high income earners working in multinational sectors would see it vulnerable to any sudden economic shock, according to the latest quarterly house price report from MyHome in association with Bank of Ireland.

The threat of a trade war will influence how the housing market will perform this year. However, the housing market’s record low supply levels and continued strong demand means that our forecast of 5% inflation for 2025 may prove too conservative if a trade war does not materialise.

The MyHome report for Q1 2025 found that annual asking price inflation was 8.1% nationwide. Annual asking price inflation in Dublin is now 6.2% and the rate is 9.2% in the rest of Ireland.

Meanwhile, the report found 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.

This means 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.