Housing in 2025
Ireland’s housing market is undergoing significant change, with new homes being built at pace, vacancy rates improving, and property prices continuing to rise.
The GeoDirectory Residential Buildings Report for Q2 2025, compiled by EY Economic Advisory, offers a timely snapshot of where progress is being made and where challenges remain.
In the 12 months to June 2025, Ireland saw the addition of 33,002 new residential address points, marking a 5.2 per cent increase year-on-year.
The Greater Dublin Area accounted for over half of these, with Dublin alone contributing nearly 13,000 new addresses. Cork, Meath and Kildare also saw strong growth, reflecting active development in commuter belts and regional hubs.
Nationwide, 23,869 residential buildings were under construction in June 2025, a 9.2 per cent increase from the previous year. Dublin and Cork led the way, while counties such as Longford and Leitrim saw more modest activity. EY’s Annette Hughes emphasises the importance of sustained collaboration between public and private sectors to maintain this momentum.
The national vacancy rate fell to 3.7 per cent, with Dublin recording the lowest at just 1.1 per cent. Leitrim and Mayo continue to face higher vacancy levels. Meanwhile, derelict properties declined by 2.9 per cent, with Connacht accounting for over a third of the total. These figures suggest a growing effort to bring unused homes back into circulation.
The average property price in Ireland reached €420,469 in May 2025, up 9.8 per cent year-on-year. Dublin remains the most expensive, while Leitrim offers the most affordable options. Despite rising prices, property transactions fell slightly to 47,927, with only three counties seeing increases.
For many first-time buyers, purchasing a new home is now cheaper than renting. The average monthly mortgage repayment stands at €1,809, compared to €2,023 in rent. However, in 11 local authorities, renting remains more affordable than buying new builds. Buying existing homes is still the more economical choice across all areas.
For businesses and policymakers, housing access and affordability are central to workforce mobility and regional development. The drop in vacancy and dereliction is promising, but keeping supply strong will require ongoing cooperation across sectors.
Read the full Q2 2025 Residential Property Report at www.geodirectory.ie/knowledge-centre/reports-blogs
