Bank of Ireland MyHome report shows fresh momentum in house prices

This morning we have published the Bank of Ireland / MyHome report. Asking price inflation accelerated in Q2 2026, with the national median asking price rising 4.3% during the quarter to €395,000 and annual growth reaching 5.0%. This is somewhat surprising given anecdotal reports of slower house price growth, particularly in the capital. Dublin asking prices increased by 3.8% to €495,000, while prices outside the capital rose 4.7% to €350,000. Despite affordability pressures, competition remains intense, with median transactions in May and June settling almost 8% above the original asking price.

However, mortgage market data suggest house price inflation should still moderate as 2026 progresses. The average mortgage approval in May increased by just 3.4% year-on-year, indicating slower growth in borrowing capacity among homebuyers. So our forecast for 4% house price inflation in 2026 remains unchanged. Market activity continues to depend heavily on newly built homes, with existing home sales contracting again in early 2026. Encouragingly, new listings on MyHome rose 2.3% in H1. Also, landlords exiting the private rented sector could modestly improve housing availability and transaction volumes later in 2026 and into 2027.

Bank of Ireland Economics Weekly July 7th 2026