Housing Shortage Propels Irish House Prices to New Heights

House prices in Ireland continue to climb as the nation grapples with a severe housing shortage. The latest REA Average House Price Index reveals a 1.3% increase in the first quarter of 2024, with the average three-bedroom, semi-detached house now commanding €308,235.

Rural areas are feeling the pressure as urban dwellers seek more affordable housing options. Counties like Tipperary, Cavan, and Kilkenny saw prices surge by as much as 3.8%. Even in traditionally cheaper locales like Longford, prices soared by 4.4% to €181,700.

Cities are not immune to the trend. Galway City and Limerick City witnessed rises of 2.4% and 1.7%, respectively. Dublin, although experiencing a modest 1.1% increase, still boasts an average house price of €517,333.

With housing availability at its lowest in two decades, the struggle for affordable accommodation shows no signs of abating, leaving many Irish residents facing an uncertain future in the property market.

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