In the latest mortgage and residential property news in Ireland, the housing market is experiencing a surge in demand following the loosening of COVID-19 restrictions and the increasing remote work trend. The Central Bank’s latest statistics reveal that mortgage approvals have risen by 10% since the start of 2025, with first-time buyers making up the bulk of these approvals.
The demand for residential properties in suburban and rural areas continues to rise as more people are opting for houses with home offices and outdoor spaces. This is reflected in the latest Daft.ie Residential Property Price Report, which shows a significant increase in property prices outside of city centres. However, this growth in demand is putting pressure on the limited supply, leading to a competitive market and escalating property prices.
In response to this situation, the Irish government has announced new plans to increase the supply of affordable housing. The Housing For All initiative aims to provide over 30,000 new homes each year until 2030. The initiative also includes measures to prevent the hoarding of building land and to expedite the planning process for new developments.
In conclusion, the Irish housing market is currently benefiting from a rise in demand, fueled by the trend towards remote work and the easing of pandemic restrictions. However, this increased demand is causing property prices to rise and putting pressure on the available supply. The government’s new housing initiative aims to address these issues and ensure that affordable housing is available for all. It will be interesting to observe how these changes will shape the future of the Irish property market.