Low stock causing high house prices across Cork
The price of the average second-hand, three-bed semi-detached house in Cork will continue to rise throughout 2026 due in part to a scarcity of stock.
That’s according to the Real Estate Alliance (REA) who have noted a price increase of 1.2% and 1.1% in Cork city and county respectively for such properties over the past three months.
The price of the average second-hand, three-bed semi in Cork city has risen to €415,000, while it now sits at €270,153 in the county.
Aside from stock scarcity, other factors causing prices to rise are steady interest rates and increased competition for property according to the REA.
The average time taken to reach sale agreed in both Cork city and county in the first quarter of 2026 was four weeks.
“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, Bantry.
“In relation to the second-hand market, prices will continue to increase in 2026.
“Demand is currently strong for all property types throughout the city and county.
“However, it’s clear that the new rent controls will begin to have a detrimental effect on the future rental market once notice periods expire, due to landlords having issued notice to their tenants prior to the implementation of same,” explained Mr O’Donoghue.
Other figures
A recent REA survey showed that this quarter, 15% of purchasers in the city and 80% across the county were first-time buyers, while a total of 60% of sales in the county, and 20% 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 10% price increases in the city and 15% across the county in comparison to comparable C-rated properties.
The survey found A-rated BER properties are commanding 10% price increases in the city and 15% across the county in comparison to C-rated properties.
National figures
The REA Average House Price Index concentrates on the 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.
The actual selling price of a three-bed, semi-detached house across the whole country rose by 1.5% in the past three months to €364,747. This represents a 7.67% annual rise – slowing gradually from the 9% increase registered six months ago.