Tramore Property Market Trends 2024 Review and Outlook 2025
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Tramore Property Market Trends: Expert Analysis by Michael Griffin
The Tramore property market, positioned along Ireland’s picturesque and highly accessible southeastern coastline, is evolving. As we look back on 2024, it becomes clear that the dynamics of this market are shaped by a complex interplay of local conditions and broader national trends. By weaving together the story of these trends with insights from Ronan Lyons, Associate Professor in Economics Trinity College Dublin comprehensive national analysis from Daft.ie, we can gain a clearer understanding of what has been driving changes in Tramore’s property market.
Transaction Period 1st January – 31st December 2023/2024
In 2024, the second-hand property market in Tramore experienced a notable decline in residential sale transactions. Transactions fell from 172 in 2023 to 156 in 2024—a drop that mirrors the national trend of shrinking listings. Rising interest rates played a significant role, as many homeowners opted to fix their mortgage rates, thereby limiting the number of properties entering the market. For Tramore, this meant increased competition for the remaining second-hand homes, further amplifying the demand for modern housing alternatives.
Transaction Period 1st January – 31st October 2023/2024
This shift in demand was clearly visible in the distribution of transactions across price segments. There was a 130% increase in transactions in the €300,000-€400,000 segment where the majority of first time buyer 3 bedroom semi-detached properties transact.The €400,000-€500,000 bracket saw a staggering 250% increase in activity, highlighting the growing appetite for premium four bedroom detached properties. At the same time, the entry-level market faced a contraction, with significant declines in transactions below €200,000. This divergence paints a picture of a town where rising affluence and limited supply are redefining buyer behaviour.
Yet, amid the challenges of the second-hand market, Tramore saw remarkable growth in new home sales. Transactions in this segment more than doubled, rising from 34 in 2023 to 87 in 2024. This surge reflects the efforts of local developers to address the housing demand head-on, coupled with high demand for new energy efficient ‘A’ rated homes. The appetite for ‘one-off’ detached homes in the towns coveted areas such as Cliff Road, Newtown, The Cove and Priest/Church Road areas remain in very high demand, with prominent frontline homes with sea views appealing to buyers from all corners of the world too.
Ronan Lyons’ national report provides a vital lens through which to view these changes. On a broader scale, Ireland’s housing market has been grappling with a persistent imbalance: while demand grows at a robust 5% annually, supply has struggled to keep pace, increasing by only 1.5% each year. Tramore’s property market reflects this disparity. Rising prices, reduced inventory, and a shift toward high-value transactions all echo the national narrative.
The story of Tramore’s property market in 2024 is also one of resilience. Buyers and sellers alike are navigating a landscape defined by limited supply in the second-hand market, slow delivery of new housing, and persistent affordability challenges. Sellers are benefiting from strong demand and rising prices, particularly in premium segments, while buyers face the dual challenge of competing for scarce second-hand homes and contending with increasing property values.
As we step into 2025, the Tramore property market holds both opportunities and challenges. For buyers, understanding market trends and preparing for rising costs are crucial. Sellers, meanwhile, should capitalise on the demand for premium properties, particularly as affordability issues reshape buyer behaviour. These dynamics highlight the urgent need to address supply-side constraints, foster a more accessible market, and ensure housing remains attainable for a diverse range of buyers.
Tramore’s journey through 2024 offers valuable lessons for property markets across Ireland. It serves as a microcosm of broader national trends while retaining its unique local character. As stakeholders reflect on the past year, the focus must remain on fostering a market that not only meets current demands but also builds a foundation for future growth and resilience.
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