Latest Daft report shows increases in price of house in Cork city and county 

Cork City house prices were 4 per cent higher in the first three months of 2022 than a year previously, according to the latest figures released by property website, Daft.ie. 

This rise compares with an increase of 10 per cent in Cork City house prices seen a year ago.

The average price of a home in Cork City is now €318,000, up 94 per cent from its lowest point.

In Cork county, prices in the first quarter of 2022 were 12 per cent higher than a year previously, compared to a rise of 4 per cent seen a year ago.

The average price of a home in County Cork is now €264,000, 84 per cent above its lowest point.

The total number of new homes transactions in Cork is down 7 per cent year-on-year. 

Nationally, housing prices rose by 2.4 per cent on average during the first three months of 2022.

The average listed house price nationwide in the first quarter of 2022 was €299,093, up 8.4 per cent on the same period in 2021 and just 19 per cent below the Celtic Tiger peak.

Increases remain smaller in urban areas, compared to rural areas, although the gap is narrowing.

The report’s author, Trinity College Dublin economist Ronan Lyons, said inflation in housing prices remains stubbornly high.

“Both new and second-hand supply remain weaker than expected before the pandemic. 

“Combined with unexpected strong demand, due to accidental savings during lockdown, this has driven up prices.

"Additional supply – of all types of homes, for sale but also market rental and social rental housing – remains the only real solution to solving Ireland’s chronic housing shortage," he said.