House prices up 5.5% as stock of second-hand homes dwindles [Video]

House prices have risen by 5.5% in the past year, up from 3.4% from the same period last year, as stock of second-hand homes dwindled, according to estate agent Sherry FitzGerald.

The figures, which cover the 12 months to the end of June, indicate that annual house price inflation is slowing. The Central Statistics Office (CSO) measured house price growth at 7.9% in the year to April, but prices continue to accelerate.

The average value of homes sold in Ireland currently stands at €335,000, while Daft.ie has found that asking prices have risen to €340,000.

The value of second-hand homes in Ireland increased 1.8% on average in the second quarter of 2024, and 4.3% this year to date, Sherry FitzGerald said

In Dublin, average values grew by 1.7% in the quarter, and 3.8% year-to-date, and inflation is higher outside the capital, although the gap is narrowing.

Regionally, the mid-west and west regions experienced the strongest annual …