Ireland's residential property market showed signs of cooling in November 2024, as the year-over-year growth rate slowed to 9.40%, according to the latest data updated on January 22, 2025. This marks a slight decrease from October 2024, when property prices were climbing at a rate of 9.70% compared to the same month the previous year.
The continuous growth in the Irish residential property market, albeit at a decelerating pace, reflects the challenges and dynamics in the housing sector. The slight slowdown may provide some respite to prospective homebuyers facing mounting affordability issues in recent years.
Economists speculate that the modest dip could be attributed to a variety of factors, including changes in housing demand or a potential stabilization following previous significant uptrends. As property prices continue to rise, albeit more slowly, stakeholders are watching closely to see if this deceleration signals a longer-term trend or a temporary fluctuation in the market.
