The average cost of a three-bedroom house in Cork City has risen past the \u20ac400,000 mark for the first time, as prices approach peak Celtic Tiger levels throughout the country.<\/p>\n
Prices for homes across the country are, on average, 5.9% higher than last year, some 39% above pre-covid pandemic levels, and only 10% below the peak during the Celtic Tiger, according to data from the latest Daft.ie house price report.<\/p>\n
The latest figures show that the average price of a three-bed semi-detached home in the third quarter in Ireland is just over \u20ac421,261.\u00a0<\/p>\n
In Cork City, it is \u20ac408,000 \u2014 up 7.4% when compared to this time last year, and the first time that the \u20ac400,000 price barrier has been broken in the city. In Cork county, a three-bed semi-detached house costs an average of \u20ac327,000.<\/p>\n
Meanwhile, a one-bedroom apartment would cost on average \u20ac256,000 in Cork City\u00a0\u2014 an increase of nearly 10% year-on-year.\u00a0<\/p>\n
Across Munster, transaction prices across the six counties now stand at 64% above their pre-covid levels and 123% higher than a decade ago. The average price of a three-bed semi-detached property in Munster in the third quarter is \u20ac297,996.<\/p>\n
In Dublin, the average price of a three-bedroom semi-detached house in the third quarter of 2025 was \u20ac557,000, up 4% on a year ago. Second-hand home availability is relatively stagnant, the data shows.\u00a0<\/p>\n
On September 1, there was a total of 11,925 second-hand homes for sale nationwide \u2014 a marginal increase on the same date in 2024. However, availability is less than half what it was for the 2015-19 average.<\/p>\n
Ronan Lyons, a professor of economics in Trinity College Dublin, said: “There are some indications in this latest report that new homes are sustaining activity levels in the market, even though construction is still low compared to underlying need.<\/p>\n
\u201cMore construction \u2014 and a healthier second-hand segment \u2014 are the key ingredients needed if the story of the Irish housing market over the years to come is to be a happier one.”<\/p>\n
More worryingly for potential homeowners, the typical property sold in the third quarter of the year went for 7% more than its initial listed price.<\/p>\n