Housing Sales Fall 6.5% but New Build Demand Holds Firm as Price Gap Widens
Geowox data points to resilient demand for new homes, with developers continuing to achieve a significant premium over existing housing despite a softer transaction market.
25 July 2026 | editor@breakingground.news
Ireland’s residential development sector continues to outperform the wider housing market, with new-build transactions increasing despite an overall decline in sales activity, according to the latest Geowox Housing Market Report for Q2 2026.
While total housing transactions fell 6.5% year-on-year to 13,026 sales, new home sales increased by 1.1% to 3,265 transactions. Existing home sales, by contrast, declined 8.8% to 9,761, reinforcing the resilience of demand for newly built housing.
For housing developers, the report highlights another important trend. The median price of a new home reached €450,000 during the second quarter, up 2.5% on a year earlier and maintaining a 26.8% premium over existing homes, where the median price stood at €355,000. Although this premium narrowed slightly compared with last year, it continues to demonstrate buyers’ willingness to pay for modern, energy-efficient housing.
Across the wider market, median house prices increased by 6.2% year-on-year to €393,000 despite weaker transaction volumes, suggesting that supply constraints continue to support pricing even as affordability pressures weigh on overall activity.
For contractors, the figures point towards continued demand for residential construction rather than a slowdown in delivery. Nationally, new-build sales have now risen from 1,862 transactions in Q2 2021 to 3,265 in Q2 2026, representing substantial long-term growth in newly completed homes entering the market.
Regional pricing also illustrates where development values remain strongest. County Dublin recorded a median new-build house price of €501,000, followed by Kerry at €515,000, Kildare and Limerick at €475,000, Wicklow at €462,000, Galway and Meath at €450,000, and Cork at €447,000. In contrast, new homes remained significantly more affordable in counties such as Monaghan (€332,000), Cavan (€350,000), Leitrim (€350,000) and Tipperary (€350,000).
The report also highlights the growing commercial value of energy performance. Excluding new homes, existing properties with BER A or B ratings achieved a 27.3% price premium, or approximately €97,000, over homes with BER ratings between C and G. While the analysis excludes new-build housing, it reinforces the market’s increasing preference for energy-efficient homes and the value placed on high-performance construction standards.
Nationally, County Dublin remained Ireland’s most expensive residential market, with a median price of €500,000, 42.9% higher than the rest of the country. Outside the capital, Wicklow (€460,000) and Kildare (€455,000) continued to command the highest median values.
Sales activity, however, varied considerably by region. Cork recorded annual transaction growth of 3%, while Waterford increased by 17%, Wexford by 12.2% and Kildare by 10.6%. Dublin saw sales decline by 9.2%, Galway by 10.9%, Meath by 22.2% and Limerick by 25.4%.
For developers planning future schemes, the data suggests that although the wider market has become more selective, demand for newly built homes remains comparatively resilient. Buyers continue to favour modern housing, while sustained price growth and the premium attached to new, energy-efficient homes indicate that quality, specification and location remain key drivers of value in Ireland’s residential development market.
