Copy of BPFI June 2023 V2

BPFI : Increasing housing supply has moderated price rises but affordability challenges remain

Higher housing prices reflected in bigger loans and higher borrower incomes….


Tuesday 20th June 2023 – The latest Housing Market Monitor Q1 2023 published today by Banking & Payments Federation Ireland (BPFI) shows that increasing housing supply has moderated price rises, with figures indicating that annual housing price inflation has been declining since its peak at over 15% in March 2022. However, affordability challenges remain with property prices nationally more than doubling from their low in early 2013.

Key Findings: 

  • Annual housing price inflation declining since peak at over 15% in March 2022
  • 6,716 new completions in the first quarter of 2023, the most seen in any first quarter since 2011
  • Percentage of solo FTB applicants buying or building a new home remained stable between 2019-2022 although average property prices increased by almost 26% in the same period
  • Regional differences remain in self-build mortgages which accounted for around 3% of FTB drawdowns on new properties in Dublin in 2022 but 74% in the South and Mid-West

BPFI Contact: Fiona Murphy, Head of Communications, 087 9740046, or Jillian Heffernan, Director of Communications, 087 9016880,

Read the full BPFI Housing Market Monitor Q1 2023 below, or download here.




Whether you are  looking to switch lender currently, keen to switch to a suitable fixed rate, are  a first time buyer or  moving home and should you have any concerns about the issues raised in this article,  or investing in a buy-to-let property, why not chat to a Seaspray Mortgage adviser today about finding the mortgage or rate that’s right for you:

tel.+353 83 099 0442     or email


Seaspray Financial Services Ltd  is regulated by the Central Bank of Ireland with registered number C165527



Murphy, F. (2023) ‘Increasing housing supply has moderated price rises but affordability challenges remain – BPFI Housing Market Monitor ’, Banking & Payments Federation Ireland, 20 June. Available at :   (Accessed 20 June 2023).




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