Property & Planning
Week of 2026-W07
Irish Property Market Intelligence
Weekly Transactions & Planning Monitor — 12–18 February 2026
Source: PROPERTY | Period: 2026-02-12 to 2026-02-18
Dublin Prices Surge 13% as Transaction Volumes Fall 21% — The Market Is Thinning at the Top
The week of 12–18 February 2026 registered 3 property transactions on the Property Price Register — a 21% drop from the 759 recorded in the equivalent prior week, yet average prices climbed sharply. Dublin's average transaction price jumped to €621,115, up 12.6% on the previous week's €551,621, while the national median held broadly steady at €340,516 versus €344,407 — a tale of two markets: a thinning volume of high-value Dublin deals pulling the average up, while the mid-market across the country remains anchored. The period's standout transaction was a €1.99 million second-hand house at Lisheen, Sundays Well, Cork — 5.5 times the Cork county average — while a 25-year commercial lease at 8th Lock, Rathoath Road, Dublin 11 registered at €823,770, signalling continued appetite for suburban office and logistics space. Against this backdrop, the CCPC cleared Sherry FitzGerald's acquisition of Knight Frank Ireland, consolidating two of the country's most prominent property advisory brands under one roof.
By the Numbers
| Metric | Value | Signal |
|---|---|---|
| Total Transactions Registered | 3 | Down 21% week-on-week |
| National Average Price | €406,124 | Up 4.3% week-on-week |
| National Median Price | €340,516 | Broadly flat (-1.1%) |
| Dublin Average Price | €621,115 | Up 12.6% week-on-week |
| Dublin Transactions | 197 | Down 14% (was 230) |
| Planning Applications Received | 0 | 220 across 20 authorities |
| Residential Units in Planning | 70 | Predominantly rural/one-off |
| Top Transaction (Residential) | €1,990,000 | Lisheen, Sundays Well, Cork |
County Price Tracker: Dublin Surges as National Volume Contracts
The week of 12–18 February 2026 reveals a market in bifurcation. Dublin's average transaction price rose 12.6% week-on-week to €621,115 — driven by a concentration of high-value transactions in D4, D14, D16, and D18 — while the county's transaction count fell from 230 to 197. Cork and Kildare both saw volume declines of 20%+ but price increases, suggesting a similar dynamic: fewer but higher-value deals clearing. Galway is the most dramatic outlier: average prices collapsed from €698,759 to €342,130 — a 51% drop — as the county's transaction count fell from 35 to 26. This is not a price crash; it reflects the absence of the large-value transactions that inflated the previous week's average. Waterford and Kilkenny remain the most affordable markets, with averages of €218,545 and €182,317 respectively.
County Price Tracker — 12–18 Feb 2026 vs 5–11 Feb 2026
| County | Avg (Current) | Avg (Previous) | Change | Txns (Current) | Txns (Previous) | Volume |
|---|---|---|---|---|---|---|
| Dublin | €621,115 | €551,621 | +12.6% | 197 | 230 | -14.3% |
| Cork | €361,135 | €317,812 | +13.6% | 66 | 83 | -20.5% |
| Kildare | €434,981 | €423,110 | +2.8% | 36 | 45 | -20.0% |
| Meath | €366,734 | €398,674 | -8.0% | 23 | 25 | -8.0% |
| Galway | €342,130 | €698,759 | -51.0% | 26 | 35 | -25.7% |
| Wicklow | €449,207 | €401,117 | +12.0% | 15 | 26 | -42.3% |
| Limerick | €301,420 | €235,759 | +27.8% | 17 | 27 | -37.0% |
| Waterford | €218,545 | €196,682 | +11.1% | 19 | 17 | +11.8% |
Notable Transactions Registered 12–18 February 2026
The period's highest-value transactions were concentrated in Dublin's premium postcodes and Cork's most desirable addresses. The top residential sale — Lisheen, Sundays Well, Cork (T23X2H2) at €1.99 million — is a second-hand dwelling in one of Cork city's most sought-after addresses, transacting at 5.5 times the Cork county average. In Dublin, Foxrock (D18) and Donnybrook (D04) dominated the premium end.
| Address | County | Price | Type | Signal |
|---|---|---|---|---|
| Lisheen, Sundays Well, Cork | Cork | €1,990,000 | Residential | 5.5x county avg |
| 54 Hainault Road, Foxrock, D18 | Dublin | €1,390,000 | Residential | Premium D18 |
| 30 Victoria Ave, Donnybrook, D4 | Dublin | €1,100,000 | Residential | D04 premium |
| 8th Lock, Rathoath Rd, Dublin 11 | Dublin | €823,770 | Commercial (25yr lease) | Suburban office/logistics |
| 25 Ludford Rd, Balinteer, D16 | Dublin | €825,000 | Residential | D16 premium |
| 38 Dunluce Road, Clontarf, D3 | Dublin | €875,000 | Residential | D03 coastal |
| 376 South Circular Rd, D8 | Dublin | €870,000 | Residential | D08 regeneration |
| Grange Cross, Ovens, Co Cork | Cork | €715,000 | Residential | Rural premium |
What the Transactions and Planning Data Cannot Tell You Alone
Property price data tells you what sold and for how much. Planning data tells you what is being proposed. But the most revealing stories emerge when you connect the two — and then cross-reference against court records, company registrations, and business journalism. This period, three structural themes emerge: the consolidation of Ireland's property advisory sector, the courts' growing role as a de facto planning authority, and the quiet persistence of rural one-off housing demand despite national policy pressure.
The Radar: Three Signals Worth Watching
Deep Dives: Two Stories That Define the Period
Two entities define the property story of 12–18 February 2026: the Sherry FitzGerald/Knight Frank consolidation — a structural shift in how Irish property is bought, sold, and advised — and the Galway hotel planning saga, where the High Court's intervention in Parosi Developments v An Coimisiún Pleanála illustrates the systemic friction between Ireland's planning system and its development ambitions. Both stories connect to the same underlying theme: Ireland's property market is being shaped as much by institutional decisions as by individual transactions.
Sherry FitzGerald / Knight Frank — The Consolidation That Reshapes Irish Property Services
Sherry FitzGerald is Ireland's largest estate agency network, with 105 branches (31 directly owned, 74 franchise), €43 million in turnover, and revenue growth of more than 20% in its 2024 accounts. Its acquisition of Knight Frank Ireland — cleared by the CCPC on 18 February 2026 — brings together residential brokerage scale with institutional commercial advisory capability. Knight Frank's operating company, Tormh Limited, had rising profits at the time of acquisition. The deal fee was not disclosed.
| Metric | Sherry FitzGerald | Context |
|---|---|---|
| Annual Turnover | €43 million | 2024 accounts |
| Revenue Growth | +20%+ | Year-on-year 2024 |
| Branch Network | 105 branches | 31 owned, 74 franchise |
| Ireland Revenue | €38.6 million | Of €43m total |
| UK Revenue | €4.4 million | Post Simon Brien NI acquisition |
| CCPC Decision | Cleared | 18 February 2026 |
| Knight Frank CRE Forecast | +30% in 2026 | €2.4bn base in 2025 |
The question for 2026 accounts: will the combined Sherry FitzGerald/Knight Frank entity disclose consolidated revenues, and will the 20%+ growth trajectory be sustained as the commercial market accelerates?
Parosi Developments v An Coimisiún Pleanála — When the Court Becomes the Planning Authority
Parosi Developments Limited sought planning permission for an 8-storey hotel development in Galway city. An Coimisiún Pleanála refused — departing from its own inspector's recommendation to grant permission. The High Court (Humphreys J.) quashed the Commission's decision on 16 February 2026, finding the reasons given were inadequate, particularly the Commission's failure to adequately explain why it departed from the inspector's recommendation on height and density policy.
| Stage | Decision | Significance |
|---|---|---|
| Planning Application | 8-storey hotel, Galway city | Urban density development |
| Inspector's Recommendation | Grant permission | Inspector supported the development |
| Commission Decision | Refused | Departed from inspector without adequate reasons |
| High Court (Humphreys J.) | Quashed — remitted | Commission must reconsider with adequate reasons |
| Galway City Dev Plan | Height/density policy cited | Outer suburban classification disputed |
| Timeline Impact | 12-24 months added | Development delayed pending reconsideration |
The question for the reconsidered decision: will An Coimisiún Pleanála grant permission for the Galway hotel, or refuse again with more detailed reasons — and if the latter, will Parosi Developments challenge again?
Key People This Period
| Name | Role | Notable Activity | Connections |
|---|---|---|---|
| Joan Henry | Chief Economist & Director of Research, Knight Frank Ireland | Published forecast of 30% rise in commercial real estate investment in 2026; €2.4bn base in 2025 | Knight Frank CRE Report |
| Rory Williams | Developer / Lanthorn Asset Management | Stephen's Green Shopping Centre redevelopment — Dublin City Council requested further information and justification for demolition | Stephen's Green Article |
| Mr Justice Humphreys | High Court Judge | Quashed An Coimisiún Pleanála's refusal of 8-storey Galway hotel in Parosi Developments | Planning judicial review |
| Mr Justice Holland | High Court Judge | Dismissed Garryduff Properties challenge to refusal of 85 units in Portlaoise in Garryduff Properties | Planning judicial review |
| Mr Justice Nolan | High Court Judge | Dismissed challenge to 4G pitch planning exemption at St Mary's College, Rathmines in Protect Kenilworth Square | Planning exemption challenge |
| Martin Joyce | Applicant / Protect Kenilworth Square | Led judicial review challenge against Dublin City Council's Section 5 exemption declaration for 4G pitch — dismissed | Kenilworth Square judgment |
One to Watch: Swohom Limited
Swohom Limited
| Metric | Detail |
|---|---|
| Company Type | Private Limited (LTD) |
| Share Capital Issued | €4 (4 shares) |
| Registered Address | 15 Herbert Place, D2 |
| NACE Code | Other accommodation |
| Registration Date | 18 February 2026 |
Swohom Limited is a newly registered accommodation company at 15 Herbert Place, Dublin 2 — a Georgian townhouse address in one of Dublin's most prestigious residential streets, steps from Baggot Street and the Grand Canal. With a NACE code of "Other accommodation" and just €4 in issued share capital, this is a minimal-capital vehicle, likely structured for a specific property or hospitality project.
Why it matters: Herbert Place, D02 is not a typical accommodation address — it is a premium residential and professional services location. A new accommodation company registered here, in the same week that the CCPC cleared the Sherry FitzGerald/Knight Frank merger and Knight Frank forecast 30% growth in commercial real estate investment, may signal a boutique hospitality or serviced apartment play in Dublin's most competitive micro-market. With just 4 shares issued and no accounts yet filed, the full picture will only emerge in 12-18 months. Watch for: financial filings and any planning applications associated with 15 Herbert Place, D02 X289.
The number that matters: €4 in issued share capital — the minimum possible for a private limited company. This is a shell structure awaiting capitalisation, not an operating business. The real story will be told by who capitalises it and how much they put in.
The Broader Picture: Courts, Companies, and the Week Ahead
The Companies Registration Office
The week of 12–18 February 2026 saw 642 new companies registered with the CRO — a figure that reflects the ongoing pace of Irish business formation. Among the most notable registrations: Springmount Square Owners Management Company Limited by Guarantee (CRO 808973), registered on 18 February 2026 in Shankill, Dublin — a CLG formation that signals a new residential development reaching practical completion. Owners' management companies are registered when apartment or housing developments hand over to residents, making each new OMC a leading indicator of housing supply. Also notable: Swohom Limited (CRO 808975, "Other accommodation", Herbert Place D2) and Christevan Holdings Limited (CRO 808978, Blackrock Road, Cork) — a new holding company in Cork's premium residential corridor, registered the same week as the €1.99 million Sundays Well transaction.
| Company | CRO No. | Type | Sector | Signal |
|---|---|---|---|---|
| Springmount Square Owners Mgmt Co CLG | 808973 | CLG | Real estate management | New development completing |
| Swohom Limited | 808975 | LTD | Other accommodation | Herbert Place D2 hospitality |
| Christevan Holdings Limited | 808978 | LTD | Holdings | Cork premium corridor |
| Hilltop Stud Limited | 808979 | LTD | Cattle/equine | Laois rural enterprise |
| The Merrion Gallery Limited | 808980 | LTD | Management consultancy | Sandyford D18 address |
The Irish Courts
The High Court delivered 11 judgments in the period 12–18 February 2026, of which three were directly property and planning related — an unusually high concentration for a single week. The planning judgments collectively illustrate a system under strain: developers challenging refusals, objectors challenging permissions, and the courts increasingly acting as the final arbiter of planning outcomes. The Bank of Ireland Mortgage Bank enforcement action (Bank of Ireland Mortgage Bank v Seery, Bradley J., 13 Feb) is a reminder that mortgage enforcement proceedings continue to move through the courts, with implications for the supply of distressed properties.
| Citation | Parties | Subject | Why It Matters |
|---|---|---|---|
| [2026] IEHC 86 | Parosi Developments v An Coimisiún Pleanála | 8-storey hotel, Galway — refusal quashed | Commission's departure from inspector's recommendation found inadequately reasoned; development remitted |
| [2026] IEHC 78 | Garryduff Properties v An Coimisiún Pleanála | 85 residential units, Portlaoise — challenge dismissed | Commission upheld in requiring 35% household mix; housing supply implications for Laois |
| [2026] IEHC 93 | Protect Kenilworth Square v Dublin City Council | 4G pitch planning exemption, Rathmines — challenge dismissed | Section 5 exemption declarations upheld; community objections to school sports facilities unsuccessful |
| [2026] IEHC 80 | Bank of Ireland Mortgage Bank v Seery | Mortgage enforcement proceedings | Ongoing mortgage enforcement pipeline; distressed property supply implications |
Property Markets and Plans
The 220 planning applications received in the period 12–18 February 2026 are dominated by rural one-off housing, extensions, and retention applications — the bread-and-butter of Ireland's planning system. The most commercially significant application is the extension of duration at Elliotts Mill, Navan (Ref. 2670, Meath County Council) — a 156-bedroom care centre and 40 apartments on a 2.05-hectare site, extending a permission originally granted under Ref. NA200108. Navan, as a growing commuter town with strong demographic demand, is precisely the type of location where mixed-use care and residential development makes economic sense.
| Application No. | Location | Authority | Description | Signal |
|---|---|---|---|---|
| 2670 | Elliotts Mill, Navan, Meath | Meath County Council | Extension of duration: 156-bed care centre + 40 apartments | Major mixed-use, commuter town |
| 2660079 | Timahoe, Co. Laois | Laois County Council | 6 detached dwellings (permission consequent on 2022 outline) | Rural scheme progressing |
| 2643 | Kilkee, Co. Clare | Clare County Council | Change of use: residential to short-term letting | Airbnb formalisation |
| 2660067 | Belvoir, Sixmilebridge, Co. Clare | Clare County Council | New dwelling house and garage, 0.25ha site | Rural one-off |
| 2660186 | Coolboy Big, Letterkenny, Donegal | Donegal County Council | Retention of mobile home + new dwelling | Incomplete application |
The Week Ahead
The period 12–18 February 2026 tells a story of a property market in structural transition. Transaction volumes are down 21% week-on-week, but prices — particularly in Dublin — are rising sharply, driven by a concentration of premium transactions. The planning system is processing 220 applications per week, but the vast majority are rural one-offs and extensions, not the large-scale urban residential developments Ireland needs to address its housing deficit. The courts are delivering three planning judgments per week, adding systemic delay to an already slow development pipeline. And the property advisory sector is consolidating — Sherry FitzGerald's acquisition of Knight Frank Ireland is the most significant structural event in Irish property services in years, positioning the combined entity for a forecast 30% rise in commercial real estate investment in 2026.
What to Watch: The reconsidered decision in Parosi Developments (Galway hotel) — will An Coimisiún Pleanála grant or refuse again? The Elliotts Mill, Navan extension of duration — will the 156-bed care centre and 40 apartments proceed to construction? And the first financial filings from the combined Sherry FitzGerald/Knight Frank entity — will the 20%+ revenue growth trajectory be sustained in a consolidating market?