Q2 2025 Market Update: Strong Results Amid Shifting Dynamics
As we wrap up the second quarter of 2025, Owen Reilly’s latest data confirms a continued seller-friendly market in Dublin’s prime residential sector. Despite seasonal slowing and a rising fall-through rate, demand remains strong—driven by first-time buyers, falling interest rates, and constrained supply.
Sales Market Still Favourable for Sellers
We achieved an average selling price of €671,875 (€749 per sq. ft.), 9.7% over the average asking price—our highest variance to date. Nearly nine in ten properties (88%) sold above asking, while just 3% transacted below.
Apartments outpaced houses in both price and speed, selling 11% over asking and four weeks faster, with average time to sale now at 9.2 weeks. First-time buyer activity—particularly in the sub-€500k bracket—continues to drive this momentum.
However, the fall-through rate climbed to 18%, up from 4% in Q1, reflecting tighter financing conditions and/or increased buyer caution.
Who’s Buying—and Who’s Selling
Owner-occupiers made up 97% of buyers, with 70% being first-time purchasers. Most are single, mortgage-backed, and around 42 years of age. Investor activity all but disappeared, accounting for just 3% of transactions compared to 25% for the same period last year—a concerning sign for rental supply.
On the selling side, 56% were landlords exiting the market, further evidence of structural shifts. RPZ regulation changes appear to be accelerating this trend though it is encouraging landlords can re-rent their properties at market rents next year when a tenant leaves of their own volition. The government will need to make more measures to encourage investors, especially in the ‘build to rent’ where viability is still a major challenge.
Lettings: Steady Rents, Evolving Tenant Profile
Our average monthly rent for Q2 was €2,750, flat year-on-year. Tech sector tenants still dominate at 40%, though slightly down from Q1. Irish representation increased significantly to 33% of tenants, up from just 12% a year ago. The average tenant is 37 years old, earning €71,000.
Looking Ahead
With July and August offering the market a chance to catch its breath, attention turns to the autumn season. Falling interest rates may further fuel demand, but supply—and investor participation—will be critical watchpoints.
For insights tailored to your property goals, don’t hesitate to reach out to the Owen Reilly team.