Irish house price growth slowed on a year-on-year basis for the eighth month in a row in November, expanding by 8.6% compared to the most recent peak of just over 15% earlier in 2022, data showed on 18 January.
More up to date figures earlier this month from Daft.ie and MyHome.ie, Ireland’s main property listings sites, showed that asking prices fell 0.4% quarter-on-quarter in the final three months of 2022 to stand around 6% higher year-on-year.
Prices typically fall in the final quarter of the calendar year and the 0.4% drop was one of the smallest Q4 declines over the past decade, according to Davy Stockbrokers' Chief Economist Conall MacCoille, who analyses the figures for MyHome.ie.
The latest data from the Irish Central Statistics Office (CSO) shows the annual rate of increase in Dublin fell to 7% in November, down from 8.3%.
Increased borrowing costs and general cost-of-living pressures have triggered a rapid cooling down in property markets across the world and a correction in some of the more overpriced markets. However, the property industry in Ireland is still predicting positive growth in prices this year.
