Daft figures reveal a 'two-speed' property market

The latest housing figures from Daft.ie point to an increasingly divided Irish property market, with the slowdown in price growth being driven primarily by the major cities, while rural counties across Connacht-Ulster continue to experience strong inflationary pressure.

The second quarter of 2026 has marked a broad-based slowdown in Irish house price inflation and, for Cavan and Monaghan, the picture is mixed. Cavan has emerged as one of the stronger-performing counties in the region, with prices continuing to rise; while neighbouring Monaghan has recorded a sharp adjustment in one of its key housing categories.

County Cavan recorded an average listed price of €257,000 for a three-bedroom semi-detached home between March and June, an increase of 9.8% year-on-year. That performance places Cavan among the strongest-performing in the wider Ulster and Connacht region, exceeding the growth recorded in counties such as Mayo, Roscommon, Leitrim and Sligo.

That strength is particularly notable because Cavan continues to offer relative affordability compared with national averages. The typical listed price of a three-bedroom semi-detached home nationally stood at €445,000 in the second quarter of 2026, whereas a similar property in Cavan remains almost €190,000 below that national benchmark.

Neighbouring Monaghan tells a different story. The average listed price of a three-bedroom semi-detached home in the county was €237,000, slightly below Cavan, but the annual movement was markedly weaker, with prices down 13.4% year-on-year - an outlier in a region where most rural counties recorded increases.

Across the wider Ulster and Connacht region, affordability remains the main driver of demand. Donegal recorded an average three-bed semi listed price of €214,000 with annual growth of nine per cent, while Leitrim averaged €243,000 representing growth of 7.3% over the period. Roscommon recorded a €248,000 level and growth of 7.8%, while Sligo reached €253,000 with more modest growth of 3.9%. Mayo was higher at €270,000, rising 7.9% year-on-year.

Nationally, list prices increased by 3.8% in the 12 months to June, down from 6.8% a year previous. However, the slowdown has not been evenly distributed. Major cities have led the cooling, with Dublin’s annual list-price growth easing to three per cent; while prices across the four other cities have effectively flattened, down 0.2% year-on-year.

Early transaction figures suggest Dublin prices are in decline, falling 2.3% compared with the previous year.

Outside the urban centres, the market remains cnsiderably stronger. Connacht-Ulster, excluding Galway city, recorded annual list-price growth of 8.8% in the year to June 2026, almost unchanged from the previous year’s rate of 9%.

Daft.ie describes this as a continuing two-speed market, one where supply is gradually returning, but where rural Ireland remains under pressure because of tight availability and insufficient new construction.

Across Connacht-Ulster, there were only 2,384 second-hand homes available for sale on June 1, 2026, down two per cent on the previous year, and approximately 64% below the average level seen between 2015 and 2019.

New housing construction, meanwhile, has improved activity levels. The median price of a newly-built home in the year to March 2026 was €445,000, up three per cent on a year earlier. In Q2 the average cost was €340,001 in Cavan, and €335,000 in Monaghan.