Wexford Housing Market Faces Tight Supply and Rising Prices

Wexford’s housing market is experiencing significant price increases, with the average cost of a four-bed detached home rising by 5% year on year. That's according to the latest Daft.ie report. This surge is largely driven by a severe shortage of available homes, with only 500 properties currently on the market—down from 1,100 in previous years. The pandemic played a key role in this, as many people, freed from the constraints of city living, flocked to more affordable rural areas like Wexford, driving up demand. At the same time, higher interest rates have made it more difficult for people to buy and sell homes in the second-hand market, further exacerbating the housing crunch. As a result, Wexford’s housing market remains under significant pressure, leaving few affordable options for prospective buyers. Despite some improvement in new housing construction, the overall supply of homes in Wexford still falls well short of what is needed. Nationwide, only 30,000 homes are being built annually, half of the 60,000 required to meet demand. While new builds in Wexford have increased slightly, the market remains constrained by the ongoing lack of available homes. Higher interest rates and limited second-hand housing options continue to weigh heavily on buyers, making it clear that a more aggressive approach is necessary. Author of the report Ronan Lyons is warning that a major boost in housing construction is needed to resolve the ongoing supply issues. The rising housing prices in Wexford are particularly challenging for first-time buyers, with the cost of a typical four-bedroom house now averaging €457,000. While the government has focused on demand-side measures, such as helping individual buyers, these efforts have inadvertently driven up prices, further pricing out those who need affordable housing. Ronan Lyons also argues  that the focus should shift toward increasing the supply of homes, particularly through more efficient and sustainable building practices. Without addressing the core issue of housing shortages, Wexford’s market will remain inaccessible for many potential homeowners.