| Key Takeaways | Summary |
|---|---|
| National average home prices % growth reduced slightly | Prices rose by 8.4% in 2024 Then slowed to 6.8% in 2025. |
| Rural prices are growing faster than in Dublin | In 2025, Border and South-East regions saw 11.1% and 9.4% growth Dublin prices rose by only 5.8%. |
| Severe supply issues push price growth | Demand continues to outpace new housing delivery nationwide. |
| Small landlords continue to exit the market | Investor exits hit 30% of vendor sales in 2025, compounding rental shortages. |
| Intentional use of €14bn Apple tax could ease pressure | Reinvesting in vacant homes, small builder support, and faster planning could ease demand and stabilise prices. |
Second-Hand House Price Growth – 2024 vs. 2025
According to DNG, the average price of a second-hand home in Ireland rose 8.4% in 2024, a significant increase compared to 2023. But this trend slightly cooled off in 2025, with a 6.8% rise nationally, as noted by Sherry Fitzgerald.
However, the story beneath these averages reveals something more important, and that is house prices outside Dublin are growing faster than those in Dublin.
| Year | National Avg Growth | Dublin | Outside Dublin |
|---|---|---|---|
| 2024 | 8.4% | 9.6% | 7.6% (approximate) |
| 2025 | 6.8% | 5.8% | 8.0% |
Why Are Prices Outside Dublin Rising Faster?
1. Investors & Small Landlords are Leaving the Housing Market
From these two articles (Irish Examiner and Clinton Higgins):
- DNG (2024) – 25% of sellers in Dublin were landlords; and only 1 in 12 purchases were for investment
- Sherry Fitzgerald (2025) – 30% of second-hand home sellers were landlords; and investor purchases fell to 8% – the lowest since 2011
When investors (individuals or familes that own up to 5 rental properties) leave the second-hand market, their departure reduces rental supply and pushes rent prices up. Their exodus is caused mostly by:
- High taxation on rental income in Ireland
- National Rent Pressure Zones
- Upcoming 2026 regulation that forces small landlords to enter into 6-year minimum lease contracts with tenants My Little Home.
Also, institutional investors and large-scale landlords are the only ones incentivised to remain in the market, and they focus mostly on high-end new builds and apartments.
All of this pushes prices up and adds pressure on people buying homes, especially in lower-cost rural areas where people see buying as the better long-term value.
2. Urban Exodus / Remote Work Effects
Post-COVID flexibility has allowed people to now live outside Dublin but retain their jobs – especially those with tech, finance, or hybrid roles. I am one of the people that has benefited from this.
This exodus from urban to rural towns has increased demand in rural and commuter areas significantly; whereas supply has not kept up in these towns.
3. First-Time Buyers Being Priced Out of Cities
Many first-time buyers simply can’t afford Dublin prices (~€582k average resale in 2024), and are forced to move into the surrounding counties and beyond.
4. The Persistent Housing Supply Crisis in Ireland
Ireland’s housing supply remains critically short. In 2024, just under 33,000 new homes were built, far short of the 50,000 required per year. I fear that the total amount in 2025 might be less.
What’s more, less than one-third of these 2024 homes were available to private buyers. The rest went to:
- Social housing
- Cost-rental schemes
- Private Rental Sector block sales (sold in bulk to vulture funds so they can rent them out to residents)
How the Apple Tax Can Help Government Stabilise Second-Hand Home Prices in 2 Years Instead of Ten.
Ireland’s much-discussed €14 billion Apple tax fund, held in escrow for years, was finally received in full by the Irish Exchequer in July 2025. If some of this money is deployed intentionally and soon, this could offer a lifeline for Irish residents.
While the use of this money remains a politically complex issue, I still believe that an immediate, targeted, and intentional short-term use of some of this money could help ease housing market pressures and stabilise housing prices.
I have discussed the importance of this Apple money in numerous blog posts already, see HERE.
However, I will include some relevant applications below:
1. Government can Acquire Vacant & Derelict Homes Strategically
According to GeoDirectory, there is an estimated 80,000+ vacant or derelict homes in Ireland. This figure is politically and economically unsustainable during a housing crisis.
I suggest that the state can use part of the Apple money to identify and buy easily restorable homes at discounted prices from willing sellers and convert them into social housing stock.
Below, I briefly explain why I believe this is way more practical for government than building new homes in the short term.
| Factor | Rationale |
|---|---|
| Speed | Refurbishing qualifying existing homes is faster than building new ones, especially if repairs are minimal. |
| Cost | Buying vacant or derelict properties at scale allows for bulk pricing and economies of scale in renovations. |
| Geographical Spread | Vacant properties are dispersed nationwide, this could help ease pressure on cities while also bringing life into rural and regional areas. |
| Sustainability | Reuse of homes avoids the embedded carbon costs from new builds. Also, local councils get to add these homes to their social housing stock |
| Public Support | Likely to enjoy high public and political approval due to visible community impact. |
With in mind, I still believe there are current challenges which include:
- Labour Shortages – Ireland has a labour shortage as many of its builders are moving to Canada & Australia.
- Council Capacity – Many local authorities lack staff, project management and procurement staff.
- Title/legal barriers – Some homes may suffer from unclear ownership or probate delays.
Still, with the right team to put this money in the right places and a national register, this could be a huge intervention for social housing.
2. Unlock & Support Small Builders in Rural Ireland
Small builders are very crucial to construction in smaller towns, and there are far more small builders than medium and large builders. However, they have been largely unable to develop in rural towns where demand exists due to:
- Poor access to finance, since banks have been on edge after being exposed in 2008
- Difficulty securing and keeping labour, as talent eventually leaves for larger developers
- Complex planning constraints
With some of the Apple tax, Government could:
- Directly hire small builders to identify, buy and deliver easily restorable vacant & derelict homes.
- Set up a form of “Rural Builder Support Fund” for builders with approved planning but no capital.
- Offer soft loans or state-backed guarantees to overcome lending barriers.
- Improve existing labour recruitment + training schemes targeted at rural trades and construction management
Below is why I believe this is important:
| Factor | Rationale |
|---|---|
| Decentralisation | Reduces housing pressure in cities by increasing regional supply. |
| Job creation | Enables local employment. |
| Land Availability | Many small towns already have zoned land, unlike some urban centres. |
| Flexible Capacity | Smaller builders are more agile and can respond faster if funded. |
3. Make Temporary Improvements to Slow Planning System.
A. Fast Track Planning Permissions & Qualifying Refurbishments for Small Builders.
The Government can fund temporary rapid planning units in local authorities and An Coimisiún Pleanála (Ireland’s planning authority), specifically for applications under 20 units & for vacant property conversions.
B. Judicial Review Filter Fund
Establish a legal fund to defend fast-track small builder planning permissions, especially where judicial reviews (JR) are frivolous or anti-development in nature.
| What It Does | Why It Matters |
|---|---|
| Allows local authorities or builders to respond swiftly to JR threats | Small builders often abandon projects at the threat of a JR |
| Funds pro bono legal support or mediation to de-escalate objections | Helps separate legitimate community concern from obstructionism |
Final Thoughts.
Ireland’s second-hand housing market shows that just because average price growth has fallen does not mean that houses are affordable, especially outside Dublin.
Most experts agree that prices are unlikely to fall, because we are not in a bubble that’s correcting – we’re in a market that lacks the inventory to meet demand. If supply increases, particularly in rural and regional areas, prices could stabilise over the next 5–10 years.
But that window depends on policy decisions made today, and whether large resources like the Apple fund can be mobilised in an immediate, strategic, and intentional manner.
