ASKING PRICES FOR homes in Dublin were up significantly over the last three months, after a more sluggish increase in the first quarter of the year.

Asking price inflation rose to 5% nationwide on year-to-year basis, according to the latest property report from MyHome.ie, with a rise of 4.5% in Dublin and by 5.4% in the rest of the country.

At the end of the first three months of the year the rate of the increase stood at 2.9% in Dublin and 6.1% for the rest of the country, with a national year-to-year increase of 4.7%. 

Comparing the two quarters directly, asking prices were up by 3.8% in Dublin and by 4.7% in the rest of the country over the last three months; in the January to March period the corresponding figures were just 0.2% in Dublin and 1.7% in the rest of the country.

The median asking price for a new home in Dublin was €495,000, and in the rest of the country it was €350,000.

The number of properties listed for sale on MyHome last month was 14,200, an increase of 1,600 on June 2025.

There have been 18,900 new listings for sale on MyHome so far this year, a 1.3% increase year-on-year. 

IMAGE: MyHome.ie

MyHome’s Managing Director Joanne Geary said that while the rise in asking prices is tough news for prospective homebuyers, there are positive signs when it comes to supply. The jump in the number of listings on the site, she said, “should ease the fierce competition in the market”.

She stressed that demand remains very strong, but that a recent increase in interest rates combined with rising inflation meant affordability may become more stretched.

The author of the report Conall MacCoille, Chief Economist at Bank of Ireland, said that the key question now was whether buyers will actually be able to meet the elevated asking prices.

“Our data, while surprising, does not suggest vendors are being unrealistic,” he said. 

He added that while stretched affordability is becoming more apparent in the mortgage market, wages are still rising in line with house prices.

Researchers at the ESRI issued a report earlier this year which found buyers felt inclined to offer more than they believed a property was worth so they could be sure of securing a home. 

Bidding through an estate agent increased final bids by roughly €13,500, while online bidding platforms saw prices jump by as much as €16,000. 

Other data in the MyHome.ie report published this morning implies the average home is sold just once every 50 years, MacCoille said.

“The underlying message here is that existing homeowners clearly feel unwilling to consider moving home – for fear of failing to secure another. The elevated cost of retrofitting an existing home may also be another impediment.”