Property prices are still on the rise.

According to the latest House Price Report by Daft.ie, house prices jumped by a further 3.1% in the third quarter of this year, with prices up by 3.8 per cent in Cork City.

The average house price here now typically exceeds €354,307 – and that’s provided you can find one to buy.

There were just over 3,300 secondhand homes for sale in Munster on September 1st, down 11 per cent on the same date a year ago and well below half the 2015-2019 average of 8,400.

Daft.ie

“The figures in this latest House Price Report give further support to the suspicion that the recovery of the second-hand market in Ireland from the double hit of the early 2020s is likely to take time as the true number of homes needed each year, if the housing deficit is to be addressed is close to twice what was built last year.” said the author of the report, Ronan Lyons, Associate Professor in Economics at Trinity College Dublin.

‘I’m very worried for my generation’

“Home ownership has become impossible for too many people in Ireland,” said Labour Party General Election Candidate for Cork South Central Laura Harmon.

“Housing is overpriced and wages aren’t keeping up with inflation. I’m very worried for my generation and those who won’t get to own their own home before they retire as they won’t be able to keep paying high rents.

“Poverty in old age is a ticking time bomb if people don’t have a secure roof over their heads and we need new TDs elected who will ensure that home ownership becomes an attainable goal for people again.”