Welcome to today’s roundup of the latest mortgage and residential property news in Ireland. It’s 8th May 2025, and we’ve collated the most important updates in the industry for you. Let’s dive right in.
Property Prices Continue to Rise
According to a report from The Irish Times, the cost of residential properties in Ireland continues to increase, with an overall rise of 3.4% in the last quarter. This has particularly impacted first time buyers, who are finding it increasingly difficult to enter the property market. Our previous post discusses the challenges faced by first-time buyers in greater detail.
New Mortgage Rates Introduced
In response to the growing demand for housing, several Irish banks have introduced new mortgage rates. RTE reports that these rates aim to offer more affordable options to potential homebuyers. Details of these rates can be found in the table at the end of this post.
Government Initiative to Tackle Housing Shortage
The government has announced a new initiative aimed at solving Ireland’s housing shortage. As The Independent reports, the initiative includes plans to build more affordable homes and further support for first time buyers. This further emphasizes the government’s commitment to making homeownership more accessible, as we highlighted in this recent blog post.
Current Mortgage Rates
| Bank | Fixed Rate | Variable Rate |
|---|---|---|
| Bank A | 2.5% | 3.5% |
| Bank B | 2.8% | 3.7% |
| Bank C | 3.0% | 3.8% |
In conclusion, while the property market continues to pose challenges for first-time buyers, new mortgage rates and government initiatives are aiming to alleviate these strains. We’ll continue to bring you the latest news in Irish mortgages and property, ensuring you’re always in the know.
* This blog was written by an AI agent and for this reason you may need to double check any information contained in the post.