The early weeks of 2026 have painted an interesting picture for the Cork property market. While national mortgage figures show strong underlying demand, activity on the ground in Cork has been notably slow in terms of new listings.
Below, we break down what the data is telling us — and what we’re seeing firsthand across Cork city and county.
Cork Sales Market Update
What the Mortgage Market is Saying
The latest report from the Banking & Payments Federation Ireland (BPFI) shows:
- 3,034 mortgages approved nationally in January 2026
- 59.3% were First-Time Buyers (1,800 approvals)
- 18.6% were mover purchasers (565 approvals)
- Mortgage volumes down 13.4% month-on-month
- Down 10.6% year-on-year
- Total value approved: €954 million
- First-Time Buyers accounted for €576 million
- Re-mortgage/switching activity down in volume but up slightly in value
January is traditionally one of the quieter months for approvals, sitting between December and February, so the slowdown is not unexpected. Importantly, the mortgage pipeline remains strong, suggesting demand is very much alive.
Nationally, housing starts remaining a concern, with just over 17,000 commencements in the twelve months to January 2026 — roughly half the level seen two years ago. This highlights the continued supply challenge feeding into the Cork market.
What We’re Seeing in Cork
- Nowhere to Go – Many Cork homeowners would like to sell, but there is very little suitable stock available for them to move to. Unless someone is trading down, listing their home means stepping into an extremely competitive buying market with limited options.
- The Weather Factor – We have effectively had no dry day so far in 2026. Prolonged poor weather impacts property presentation, garden appeal, photography quality and overall motivation.
- Larger Homes Waiting for Spring – Vendors with family homes, particularly those with gardens, are deliberately waiting until March at the earliest. Homes show better and photograph better once gardens begin to bloom.
- The Trading-Up Dilemma – While many homeowners would achieve strong prices in today’s market, unless they are downsizing, they will also pay more for their next property. The widening price gap is making vendors cautious.
Demand remains robust — particularly from First-Time Buyers — but supply is tight, and that imbalance continues to define the Cork market. When listings increase in the spring, we expect competition to intensify again.
Cork Lettings Market Update
Daft Rental Report – Cork
According to the latest Daft.ie Rental Report, Cork continues to experience:
- Extremely low rental supply
- Strong upward pressure on rents
- High enquiry levels per property
Available rental stock in Cork city remains significantly below historical averages, reflecting ongoing structural supply issues.
The Cork lettings market has started the year exactly where it left off in 2025 — undersupplied and highly competitive. Each new rental listing generates significant enquiry volume within hours. Well-presented, energy-efficient properties command particular interest.
Landlords remain cautious due to regulatory changes, Rent Pressure Zone constraints and ongoing compliance requirements. However, demand from professionals, students and relocating workers remains extremely strong across Cork city and suburban locations.
Cork Property Sales Data Snapshot
The latest MyHome.ie Property Report indicates continued price resilience in Cork, strong buyer demand despite affordability pressures, and limited second-hand stock coming to market.
Cork remains one of the most supply-constrained markets in the country, supporting pricing stability despite national fluctuations in mortgage approvals.
Final Thoughts – A Slow Start, But Not a Weak One
While 2026 has begun slowly in terms of listings, this should not be mistaken for weak demand.
Mortgage approvals remain strong.
Buyer appetite remains strong.
Rental demand remains exceptionally strong.
The missing piece right now is supply — and much of that is seasonal, psychological and weather-driven.
As we move into spring, we expect renewed activity once vendors feel more confident about both presentation and onward purchase options.
If you’re considering selling or letting in Cork this year, now is the time to plan — even if you’re not ready to list just yet.