Still up, up and away

The major news is that ...... there is nothing new. The trend that has been seen since Covid continues. Property portals have reported a slowing of the growth but it has stayed above 5% consistently on an annual basis for many many years now - twice the inflation rate. The drivers of this have also stayed the same. Not enough supply and full employment will always equal strong price increases.

Dynamics MyHome Q3 2025 Property Report National asking prices up 5.7% over the year, outside Dublin by 6.2% and up 4.8% in the capital Affordability becoming more stretched this year, with the average residential property selling for eight times’ average earnings – the highest level since 2009 Competition for homes remains intense, with one-fifth of all properties being settled for 20% or more above the asking price A chasm now exists between the high number of first-time buyers looking to buy and existing homeowners unwilling to move Housing completions rise to highest level since Celtic tiger era.

Dublin Housing Supply Pipeline figures show there were 22,711 units under construction in the capital in Q1 2025, up 27% on the year. We forecast 34,500 home completions for this year. Budget 2026 introduced measures that will help boost supply, including a reduction in the rate of VAT on the sale of completed apartments. House prices now expected to rise in line with average earnings, at 5% With prices in Dublin at all time highs there are increasing signs of people moving further and further away from the Capital in order to secure a home. The two counties that have seen the greatest increase are Mayo and Donegal with both increasing by more than 12.5% in this year ! I believe we will continue tosee this trend increasing .... until there is a great reduction in working from home -which is coming in 2026 and beyond.

Whats Next ?

Yet another Government policy update. The previous 27 did not working so maybe this one will...... make things worse again. Its clear that all Government policy is moving to far left wing policy with the state now stepping in to take major housing developments directly from developers and convert them into social housing units. This will drive a continued reduction in the number properties that are for sale - driving the price up yet again. Little adjustments on Vat and other tweaks are going to make no discernible difference to supply that will arrive on the open market. Expect to see more government purchases of properties that should have been available to first time buyers So what about you ? Mortgage rates in Ireland now start from 3%. Its time to take advantage of that. If you own a property you will have benefited from prices rising nearly 50% in the last 5 years. You will have a large amount of equity in your home. This Equity - when used properly can have a major positive impact on your long term finances. You should never need a personal loan or a credit card gain! Your pension should also be maxed out .... if you know how to use this equity correctly. If you are thinking about upgrading or buying an investment property get in touch with us to get the best options

john@pangeaireland.ie 085-8600728

So what about you ?

Mortgage rates in Ireland now start from 3%. Its time to take advantage of that. If you own a property you will have benefited from prices rising. You will have a large amount of equity in your home. This Equity - when used properly can have a major positive impact on your long term finances. You should never need a personal loan again! Your pension should also be maxed out .... if you know how to use this equity correctly.

john@pangeaireland.ie

085-8600728

Frequently Asked Questions

How late is too late to switch mortgage lenders?

You can switch mortgage lenders up until the closing date, but the process becomes riskier and more complex the closer you are to closing. Delays, increased costs, and potential impacts on your home purchase timeline make it crucial to evaluate all pros and cons before making a late change.

Can you switch mortgage lenders after fixed rate period?

Yes, you can switch lenders after a fixed rate period, but breaking the rate with your original lender may incur fees. Additionally, you will need to secure a new rate and secure with the new lender, which could have cost implications depending on market conditions.

What are the costs associated with switching mortgage lenders late in the process?

Costs include new valuation fees, potential expedited underwriting or processing fees, and possible penalties for breaking a fixed rate.

How can I negotiate with a seller if I switch lenders late?

Communicating transparently is key. Inform the seller promptly, explain your reasons, and outline your plan for minimising delays.

Does switching lenders late always result in delays?

While delays are common, how significant they are depends on factors like the new lender’s processing speed, requirements, and how quickly you provide necessary documents. Working with a mortgage broker can help streamline the process and reduce delays.

Property Market Update October 2025