The price of the average second-hand three-bed semi in county Cork has risen by 1.0pc to €272,900 this quarter, according to a national survey by Real Estate Alliance.

In Cork city, prices over the past three months have increased by 1.2pc to an average of €420,000, the Q2 REA Average House Price Index shows.

The average time taken to reach sale agreed this quarter was five weeks in the city and four across the county.

“There continues to be strong demand for both second-hand and new homes, which is reflective of an increase of new home developments coming on stream,” said Michael O’Donoghue of REA O’Donoghue & Clarke, Cork.

“In relation to the second-hand market, due to the scarcity of stock and increased competition, property prices will continue to increase in 2026, and whilst demand remains strong it will be interesting to see what the impending interest rate increase will have on the market.

“Overall demand is strong for all property types throughout the city and county, but properties with a low BER Rating can take a bit longer to sell due to the stratospheric increase in building and renovation costs.

“Also, it continues to be clear that the new rent controls which came into effect since March 2026 are having a detrimental on the rental market, with landlords continuing to exit the market.”

The survey shows that this quarter, 15pc of purchasers in the city and 80pc across the county were first-time buyers, while a total of 60pc of sales in the county, and 20pc in Cork city, were attributed to landlords leaving the market.

Additionally, agents in Cork reported that the BER ratings of properties saw A-rated properties command 10pc price increases in the city and 15pc across the county in comparison to comparable C-rated properties.

The REA Average House Price Index concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.

In what is becoming the great house condition divide, homes that require upgrade works are sitting on the market while bidders concentrate on ready-to-enter properties, according to REA agents.

The actual selling price of a three-bed, semi-detached house across the country rose by 0.9pc in the past three months to €367,988 – the first time the quarterly rate of increase has been under 1pc in over two years.

This represents a 5.8pc annual rise – slowing gradually from the 8.7pc increase registered at the end of 2025.

The Q2 Index shows that while the rate of increase in sales prices has halved in the capital over the past three months, from 1.6pc to 0.8pc, average Dublin house prices have broken the €600,000 barrier for the first time.

The average cost of a three-bed semi in Dublin’s postcode zones is now €600,120, representing an increase of almost €150,000 on the June 2021 average price of €456,667 – a 31pc rise in just five years.

Selling prices in Ireland’s major cities outside Dublin rose by the same percentage as the capital, 0.8pc, to an average of €381,250 – also a 5.7pc annual increase, with homes selling in four weeks on average.

Average Galway city house prices reached the €400,000 level for the first time, after an increase of 0.5pc over the past three months.

Homes in the country’s large towns rose by 1.1pc this quarter – down from 2pc in the first three months of the year, and 7.3pc annually to an average of €281,287.

The biggest quarterly rise was in Ireland’s most affordable county, Donegal, where prices increased by 3.5 pc to €222,500 on average. This figure is a 12.7pc increase on the June 2025 value of €197,500.

The rate of price increases in Ireland’s commuter towns halved in Q2 to 0.5pc with the average three-bed selling for €379,219.