Asking prices for homes rises at highest pace in two years [Video]

Housing asking prices have risen by 7.3% over the past year, the fastest rate of inflation seen in nearly two years, according to a study from MyHome.ie.

The quickening rate of inflation has been propelled by the growing labour market, looser mortgage lending rules and the continued poor supply of homes.

The study, conducted in association with Bank of Ireland, found that the national median asking price in Q2 2024 stood at €365,000, a 5.1% change from Q1 and a 7.3% rise year-on-year. This is the highest rate of inflation seen since Q3 2022, when it was 7.8%.

Median asking prices in Dublin rose to €465,000, a 3% increase on the quarter and 7.2% higher in the year. Houses outside of Dublin stood at €310,000, up 6.7% for the quarter and 7.6% over the year.

With average earnings rising by 4.7% in the year, this corresponded to an almost-identical 4.6% rise in mortgage approval values this …