Average cost of new build in Ireland hits €410,000 – or half a million in Dublin

The median price for a property in Ireland in the third quarter of 2023 was €320,000, an increase of €15,000 in one year.

The median price of a home in Co Dublin stood at €425,000, 55pc more expensive than all other counties, where the median price was €274,000, according to the latest housing report from Irish company Geowox.

Dublin and its commuter belt of Wicklow, Kildare and Meath were the only counties where prices were higher than the national median. The median price of a new home in Dublin was half a million euro, compared with €411,000 for an existing home.

The most expensive postcodes in Dublin were D6, D14 and D4, with the median cost of a home in D6 amounting to around €775,000.

The cheapest postcode to buy a home in the capital is D10, with the median price amounting to €275,000, followed by D17, D1 and D22.

The most expensive towns outside Dublin are Naas in Co Kildare at €412,000 and Wicklow at €408,000, while the next most expensive city outside Dublin was Galway with a median price of €375,000.

Rural homes increased in price by 11pc, according to Geowox, while ­urban prices declined by 0.7pc.

​The report notes that Sligo experienced a “significant downturn”, with a 14.5pc decrease year-on-year, while counties Longford and Carlow saw the “most remarkable price surge” of 16pc during the same period.

The cheapest counties on average to buy an existing home were Roscommon, Longford, Leitrim and Donegal. The most expensive counties to purchase a home were Dublin, Kildare, Meath, Wicklow and Galway.

In all counties except Leitrim, where both new and existing homes had a median price of around €161,000, there is a sizeable difference in cost.

The average median price of an existing home across the country is €290,000, compared with €410,000 for a new home.

Both apartments and houses experienced price increases compared with the same period last year, with the median price for an apartment coming to €270,000. This compares with a €165,000 price tag for an apartment in the same three-month period in 2016.

The figures were released as homelessness figures reached another ­record-breaking high of 14,760 people accessing emergency accommodation last month.

According to the latest figures from the Department of Housing, there were 2,133 families accessing emergency accommodation in September, including 4,561 children under the age of 18.

The Dublin Simon Community has warned the figures account only for those accessing emergency accommodation and do not include those sleeping rough, individuals in domestic violence shelters, refugees or asylum-seekers.

“The lack of an integrated response by the Government is one of, if not the, key issue with today’s record numbers,” said Catherine Kenny, CEO of Dublin Simon Community. “Since the Dáil was last dissolved in 2020, homelessness has increased by 41pc.”