The pace of growth in asking prices for houses and apartments appears to be softening, according to the latest report from property website MyHome in conjunction with Bank of Ireland.
The report for the third quarter of 2025 said asking prices nationally are up 5.7% over the past year, rising by 4.8% in Dublin and 6.2% outside the capital.
But it warned that affordability was becoming "more stretched" with the average residential property selling for eight times average earnings - which was the highest level since 2009.
Today's report shows that the median asking price of a house nationwide in the third quarter stood at €385,000, down 0.4%on the previous quarter and up 5.7% on the same time last year.
It also noted that competition for homes remains intense, with one-fifth of all properties being settled for 20% or more above the asking price.
There are currently just 13,000 properties listed for sale on MyHome, flat on the year and well down from 20,000-plus level seen prior to the Covid-19 pandemic.
Meanwhile, the average residential property sold in 2025 had a price of €426,000 - eight times' average earnings of €53,000. Myhome.ie said by this metric Irish house price-to-earnings are now at their most expensive level since 2009.
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The report said Budget 2026 included measures which should boost the supply of property.
The report's author Conall MacCoille, Bank of Ireland chief economist, said there was "evidence house price inflation is finally slowing down".
However, he stressed the "pace of price rises is merely softening".
"The market is still extremely difficult; there are currently just 13,000 properties listed for sale on MyHome, flat on the year and still down from the levels exceeding 20,000 seen prior to the Covid-19 pandemic," Mr MacCoille added.
Today's report shows that first-time buyers have drawn down 27,000 mortgages over the past year - the highest level since 2007.
Meanwhile, the 9,200 mover mortgages drawn down over the same time is close to the lowest level in a decade.
