Kildare house prices in Q3 of 2024 were four per cent higher than a year previously

County Kildare house prices in the third quarter of 2024 were four per cent higher than a year previously, compared to a rise of five per cent seen last year.

That's according to Daft.ie's latest House Price Report, which was published earlier today.

The average price of a home is now €355,000, 38 per cent above the level seen at the start of the Covid-19 pandemic.

Commenting on the report, its author Ronan Lyons, who is an economist at Trinity College Dublin, said: "The figures in this latest House Price Report give further support to the suspicion that the recovery of the second-hand market in Ireland from the double hit of the early 2020s is likely to take time as the true number of homes needed each year, if the housing deficit is to be addressed is close to twice what was built last year."

"While the volume of new homes being built and bought has largely held up in recent quarters, despite rising interest rates, the same cannot be said of the second-hand market.

"The number of homes coming on to the second-hand market remains very weak; the resulting scarcity of homes has pushed prices up, especially in Dublin, where new homes are being built."

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Mr Lyons continued: "The typical second-hand home bought in Dublin between June and September sold for 7.6 per cent above its listed price, the biggest gap since records began in 2010.

"Conditions elsewhere are similar, with a record average premium of 5.4 per cent above the listed price nationally. 

"The slow decline in mortgage interest rates will help the market, as will sitting homeowners coming off fixed-rate mortgages, but these factors are largely outside of policymaker control."

"The underlying issue remains a lack of homes, of all kinds, and this should remain the focus for policymakers before and after the next election," he concluded.

AVERAGE LIST PRICE AND YEAR-ON-YEAR CHANGE IN MAJOR CITIES, Q3 2024

• Dublin City: €463,265, up 6.2 per cent
• Cork City: €354,307, up 3.8 per cent
• Limerick City: €292,437, up 9.7 per cent
• Galway City: €388,604, up 4.1 per cent
• Waterford City: €249,792, up 3.4 per cent
• Rest of the country: €294,541, up 6.3 per cent

The report can be viewed in the form of a PDF here.