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MyHome Q3 2026 Property Report points to improved conditions for buyers, but affordability pressures remain

Ireland’s residential property market may be entering a more balanced phase after several years of rapid price growth, according to the latest MyHome Q3 2026 Property Report in association with Bank of Ireland. The report highlights slowing house price inflation, a growing supply of homes for sale, and increasing levels of new housing delivery, all of which are helping to ease some of the intense pressures experienced by buyers in recent years. [MyHome Q3…MyHome.ie]

However, while market conditions are showing signs of improvement, affordability remains a major challenge, particularly for households attempting to purchase their first home in a market where property prices continue to outpace wage growth. [MyHome Q3…MyHome.ie]

Annual price inflation falls to lowest level in more than three years

One of the most notable findings from the report is the continued moderation in asking price growth across the country. Annual asking price inflation has slowed to 3.9% nationally, representing the weakest rate of growth since the second quarter of 2023. [MyHome Q3…MyHome.ie]

The slowdown is even more evident in Dublin, where annual asking price inflation now stands at just 2.1%, while the rate outside the capital is 4.8%. [MyHome Q3…MyHome.ie]

Quarterly figures suggest that the market is cooling further:

  • National asking prices fell by 1.4% during Q3.
  • Dublin asking prices declined by 2.3%.
  • Prices outside Dublin fell by 1.0%. [MyHome Q3…MyHome.ie]

The median asking price for newly listed homes now stands at:

According to Conall MacCoille, Chief Economist at Bank of Ireland and author of the report, these figures indicate that the market is gradually becoming more favourable for purchasers.

“The rate of asking price inflation continues to slow, the number of properties for sale on MyHome is rising, and homebuilding has picked up. All of these factors point to positive news for homebuyers.” [MyHome Q3…MyHome.ie]

More choice emerging for buyers

A key theme throughout the report is the improvement in available housing stock.

The number of properties listed for sale on MyHome at the end of September reached 14,630, representing a 12.5% increase compared to the same period last year. At the same time, more than 10,400 new properties were listed between June and September, up 5.3% year-on-year. [MyHome Q3…MyHome.ie]

For prospective purchasers, this expanding supply is significant. Increased choice can help reduce competition for available homes and create more balanced pricing conditions, particularly in areas that have experienced intense demand over recent years.

Housing delivery reaches important milestone

The report also points to a significant achievement on the supply side of the market.

Approximately 38,000 homes were completed in the year to June 2026. According to the research, these homes provide accommodation capacity for more than 100,000 people, comfortably exceeding estimated population growth of 67,000 over the same period. [MyHome Q3…MyHome.ie]

This marks an important milestone for the Irish housing sector, suggesting that new housing output is beginning to make a stronger contribution to addressing long-standing supply shortages.

The report maintains forecasts of:

While these figures remain below the levels many experts believe are ultimately required to fully meet housing demand, they represent a stronger outlook than was anticipated only a year or two ago. [MyHome Q3…MyHome.ie]

Affordability remains the biggest obstacle

Despite improvements in supply and slower price growth, affordability continues to be a major concern.

The report notes that the median residential property price of €412,000 is now equivalent to 7.7 times average annual earnings of €54,000. [MyHome Q3…MyHome.ie]

While mortgage affordability metrics for dual-income first-time buyers are somewhat more favourable, the overall cost of purchasing a home remains elevated by historical standards.

According to the report, the typical first-time buyer household in 2025 had a combined income of approximately €95,000 and purchased a home valued at €408,000, equivalent to four times household income. [MyHome Q3…MyHome.ie]

Importantly, the report concludes that buying remains financially more attractive than renting in many cases, with rental yields continuing to exceed mortgage rates. [MyHome Q3…MyHome.ie]

First-time buyers continue to drive the market

One of the most striking trends highlighted in the report is the growing dominance of first-time buyers.

Mortgage lending volumes to first-time buyers increased by 6.6% year-on-year, while lending to movers declined by 4.1%. First-time buyers now account for approximately three out of every four mortgages issued in Ireland. [MyHome Q3…MyHome.ie]

MyHome.ie Managing Director Joanne Geary noted that a clear divergence has emerged between the first-time buyer and second-hand mover markets. [MyHome Q3…MyHome.ie]

First-time buyer transactions increased by 12% year-on-year, while mover transactions fell by 1.2%, indicating that existing homeowners continue to face barriers when attempting to trade up or downsize. [MyHome Q3…MyHome.ie]

This trend has important implications for market mobility and may continue to constrain supply in certain segments of the market.

Energy efficiency increasingly influences value

Another notable finding is the growing impact of energy efficiency on residential property values.

Analysis conducted by MyHome and the Sustainable Energy Authority of Ireland (SEAI) indicates that property values rise by approximately 2.7% for each step up the Building Energy Rating (BER) scale. The greatest premium is observed when moving from a C-rated home to an A-rated home, where the value uplift is estimated at between 10% and 13%. [MyHome Q3…MyHome.ie]

The premium appears lower in Dublin, where each BER improvement contributes around 1.8% to value. Nonetheless, the findings suggest that buyers are placing increasing importance on energy performance and running costs when assessing homes. [MyHome Q3…MyHome.ie]

As rising energy costs and sustainability considerations continue to influence purchasing decisions, energy-efficient homes are likely to attract greater demand and maintain stronger values in the years ahead.

Budget 2027 provides welcome support

The report also welcomed several housing-related measures announced in Budget 2027.

Among the developments highlighted were:

  • An increase in the Help-to-Buy Scheme.
  • Enhanced Rent-a-Room Relief.
  • An increase in the rent tax credit. [MyHome Q3…MyHome.ie]

These measures are expected to provide additional support for aspiring homeowners while also encouraging participation in the rental market.

Outlook: A healthier, more balanced market

Overall, the Q3 2026 report paints the picture of a residential market that remains undersupplied but is gradually moving towards better balance.

Price growth is moderating, housing completions continue to increase, and the number of properties coming to market is rising. While affordability challenges remain significant, particularly for lower-income households, the combination of improved supply, easing inflation and targeted policy supports offers cautious optimism for buyers entering the market over the coming months. [MyHome Q3…MyHome.ie]

For Dublin homeowners and prospective purchasers, the report suggests that the frantic pace of price growth seen in recent years is beginning to cool, potentially creating a more sustainable market environment as Ireland moves into 2027.