This report provides a comprehensive analysis of property sales transactions across Ireland for 2024. The data reveals several important trends with implications for housing policy and market dynamics:
This analysis provides critical insights for policy development aimed at addressing housing affordability, regional development, and the balance between owner-occupier and investor participation in the market.
In 2024, Ireland recorded 58,180 property transactions with a total value of €23.4 billion. The national mean sale price was €402,093. The market demonstrates significant segmentation between new and existing dwellings:
| Dwelling Status | Number of Sales | Total Value (€m) | Mean Sale Price (€) |
|---|---|---|---|
| All Dwellings | 58,180 | 23,393.8 | 402,093 |
| New Dwellings | 15,945 | 7,286.8 | 456,998 |
| Existing Dwellings | 42,235 | 16,107.0 | 381,365 |
New properties command a premium of approximately 19.8% over existing properties at the national level.
The data shows distinct purchase patterns across different buyer categories:
| Buyer Type | Number of Sales | % of Total | Total Value (€m) | Mean Sale Price (€) |
|---|---|---|---|---|
| Household Buyer - All | 46,685 | 80.2% | 18,825.1 | 403,238 |
| First-Time Buyer | 16,804 | 28.9% | 6,414.7 | 381,734 |
| Former Owner-Occupier | 24,750 | 42.5% | 10,924.6 | 441,399 |
| Non-Occupier | 5,131 | 8.8% | 1,485.9 | 289,585 |
| Non-Household Buyer | 11,495 | 19.8% | 4,568.6 | 397,446 |
Former owner-occupiers represent the largest category of buyers and also purchase at higher price points on average, likely reflecting accumulated equity and stronger purchasing power compared to first-time buyers.
Non-household buyers (institutional investors, public bodies, etc.) account for a significant portion of market activity at 19.8% of all purchases. However, their involvement in new dwelling acquisitions is notably higher at 40.1% of all new property sales, highlighting their strategic focus on new developments.
The data reveals substantial regional price differences across Ireland's three main regions:
| Region | Number of Sales | Mean Sale Price (€) | % of National Average |
|---|---|---|---|
| Eastern & Midland | 33,374 | 1,181,737 | 294% |
| Southern | 17,296 | 311,060 | 77% |
| Northern & Western | 7,510 | 262,091 | 65% |
The Eastern & Midland region, dominated by Dublin, shows substantially higher prices than the national average, while both Southern and Northern & Western regions have mean prices well below the national figure.
Dublin's property market remains distinctly separate from the rest of the country:
| Area | Number of Sales | Mean Sale Price (€) |
|---|---|---|
| Dublin | 20,418 | 552,885 |
| Mid East | 9,543 | 401,404 |
| Midland | 3,413 | 271,345 |
| Border | 3,293 | 223,565 |
| West | 4,217 | 292,175 |
| Mid West | 4,420 | 281,041 |
| South East | 5,331 | 291,878 |
| South West | 7,545 | 342,200 |
Dublin's mean property price is 147% higher than the Border region, which has the lowest average prices nationally. This significant differential has important implications for internal migration, commuting patterns, and regional development policies.
New dwellings command a premium in all regions, but the magnitude varies:
| Region | New Dwelling Mean Price (€) | Existing Dwelling Mean Price (€) | Premium (%) |
|---|---|---|---|
| State (National) | 456,998 | 381,365 | 19.8% |
| Dublin | 557,944 | 550,678 | 1.3% |
| Mid East | 438,636 | 378,770 | 15.8% |
| Midland | 350,395 | 243,710 | 43.8% |
| Border | 327,273 | 212,797 | 53.8% |
| West | 393,358 | 277,224 | 41.9% |
| Mid West | 361,118 | 263,237 | 37.2% |
| South East | 346,685 | 271,148 | 27.9% |
| South West | 385,359 | 325,212 | 18.5% |
The significant finding is that while Dublin has the highest absolute prices, it shows the smallest premium for new properties (1.3%). This could indicate either greater equilibrium between new and existing property values in Dublin or potential price ceilings in the market.
Conversely, the Border region shows the largest premium for new dwellings (53.8%), suggesting either superior quality in new developments relative to existing stock or limited supply of new housing in that region.
The distribution of new housing acquisitions shows significant variations by buyer type:
| Buyer Type | New Dwelling Purchases | % of New Dwellings | Mean Price (€) |
|---|---|---|---|
| First-Time Buyer | 5,750 | 36.1% | 427,974 |
| Former Owner-Occupier | 3,573 | 22.4% | 521,368 |
| Household Non-Occupier | 230 | 1.4% | 568,762 |
| Non-Household Buyer | 6,392 | 40.1% | 443,104 |
Non-household buyers (institutional investors, etc.) represent the largest single category of new dwelling purchasers at 40.1%. This significant market participation by institutional investors has implications for housing availability for owner-occupiers and rental market dynamics.
First-time buyers acquire 36.1% of new dwellings, though at a lower price point than other buyer categories, indicating potential differences in property size, location, or amenities.
First-time buyers show distinct regional purchasing patterns:
| Region | FTB Purchases | % of Regional Sales | Mean FTB Price (€) | % of Regional Mean |
|---|---|---|---|---|
| Eastern & Midland | 10,305 | 30.9% | 1,051,111 | 88.9% |
| Southern | 4,758 | 27.5% | 317,823 | 102.2% |
| Northern & Western | 1,741 | 23.2% | 278,978 | 106.4% |
First-time buyers represent nearly 31% of all purchases in the Eastern & Midland region but only 23.2% in the Northern & Western region. Interestingly, while first-time buyers in the Eastern & Midland purchase at prices below the regional average (88.9%), in the other regions they purchase at prices above the regional average. This could indicate stronger competition among first-time buyers in regions with more affordable housing.
| Dwelling Type | FTB Purchases | % of FTB Purchases | Mean Price (€) |
|---|---|---|---|
| New Dwellings | 5,750 | 34.2% | 427,974 |
| Existing Dwellings | 11,054 | 65.8% | 357,681 |
Nearly two-thirds of first-time buyers purchase existing dwellings rather than new properties, likely influenced by the 19.7% price differential between new and existing homes. This preference for existing properties may also reflect location choices closer to urban centers or employment hubs.
| Highest Price Counties | Mean Price (€) | Lowest Price Counties | Mean Price (€) |
|---|---|---|---|
| Dublin | 552,885 | Longford | 197,697 |
| Wicklow | 482,803 | Leitrim | 201,406 |
| Kildare | 410,272 | Roscommon | 211,441 |
| Meath | 370,783 | Donegal | 208,262 |
| Cork | 354,065 | Monaghan | 230,800 |
The data shows a concentration of high-value properties in counties within the Dublin commuter belt (Wicklow, Kildare, Meath), while the lowest prices are found in the border and midland counties.
| County | New Dwelling Sales | % of County Total | Mean New Price (€) |
|---|---|---|---|
| Dublin | 6,203 | 30.4% | 557,944 |
| Cork | 2,040 | 32.2% | 385,867 |
| Meath | 922 | 36.7% | 394,775 |
| Wicklow | 955 | 40.2% | 529,965 |
| Kildare | 1,166 | 38.6% | 432,133 |
| Wexford | 633 | 29.7% | 326,356 |
| Louth | 565 | 34.6% | 369,290 |
| Galway | 363 | 15.5% | 425,257 |
| Limerick | 368 | 19.6% | 389,886 |
| Waterford | 437 | 26.8% | 353,019 |
New housing development shows significant concentration in the Eastern region and major urban centers. Dublin accounts for 38.9% of all new housing purchases nationally, while Wicklow has the highest proportion of new dwellings as a percentage of total county sales at 40.2%.
Counties with lower proportions of new dwelling sales (such as Galway at 15.5% and Limerick at 19.6%) may face greater supply constraints or development challenges compared to areas like Wicklow and Meath.
| Region | Non-Household Purchases | % of Regional Sales | Mean Price (€) |
|---|---|---|---|
| Eastern & Midland | 7,393 | 22.2% | 1,079,805 |
| Southern | 3,070 | 17.7% | 290,391 |
| Northern & Western | 1,032 | 13.7% | 254,554 |
Non-household buyers (investors, developers, public bodies) show a strong preference for the Eastern & Midland region, where they account for 22.2% of all purchases. Their presence is notably lower in the Northern & Western region at 13.7%.
| Region | NH New Dwelling Purchases | % of Regional New | NH Existing Purchases | % of Regional Existing |
|---|---|---|---|---|
| Eastern & Midland | 4,656 | 43.5% | 2,737 | 12.1% |
| Southern | 1,542 | 35.1% | 1,528 | 11.8% |
| Northern & Western | 194 | 22.8% | 838 | 12.6% |
| National | 6,392 | 40.1% | 5,103 | 12.1% |
Non-household buyers focus predominantly on new dwelling acquisitions, accounting for 40.1% of all new property purchases nationally, compared to just 12.1% of existing dwellings. This pattern is most pronounced in the Eastern & Midland region, where they comprise 43.5% of new property buyers.
The significant regional price disparities present challenges for national housing policy:
The data reveals potential supply-demand mismatches:
The price disparities between regions have implications for regional development strategies:
The 2024 property sales data provides valuable insights into Ireland's housing market dynamics. Key findings include:
These findings underscore the importance of targeted regional development strategies, continued focus on increasing housing supply, and policy measures to support first-time buyers in accessing appropriate housing options.
Note: This report is based on property sales data for 2024 and is intended to provide objective analysis to inform housing policy development. Additional data regarding housing completions, planning permissions, and rental market dynamics would complement this analysis for comprehensive policy formulation.