Residential property prices up 10% in a year - CSO
Residential property prices have increased by 10.1% over the 12 months to August 2024, according to findings from the Central Statistics Office (CSO).
Prices are now 13.4% above the ‘property boom’ peak of April 2007.
Dublin is currently experiencing prices 1.8% higher than their February 2007 peak, while residential property prices throughout the rest of the country are 14.0% higher than their May 2007 peak.
The CSO figures show that the median price of a home purchased in the 12 months to August 2024 was €345,000, with the highest median price in Dún Laoghaire-Rathdown (€635,000), while the lowest was in Longford (€175,000).
CSO statistician, Niall Corkery said that the increase of 10.1% in the 12 months to August 2024 was up up from 9.6% in the year to July 2024.
“In the 12 months to August 2024, house prices in Dublin rose by 11.6% while apartment prices increased by 7.9%. The highest house price growth in Dublin was in Fingal at 12.4% while Dún Laoghaire-Rathdown saw a rise of 10.3%.
“Outside Dublin, house prices were up by 9.5% and apartment prices increased by 10.1%. The region outside of Dublin that saw the largest rise in house prices was the Border (Cavan, Donegal, Leitrim, Monaghan, and Sligo) at 15.1%, while at the other end of the scale, the Mid-East (Kildare, Louth, Meath, and Wicklow) saw an 8.0% rise,” Mr Corkery said.
The most expensive Eircode area over the 12 months to August was D06 ‘Dublin 6’ with a median price of €725,000, while H23 ‘Clones’ had the least expensive price of €135,000, according to Mr Corkery.
The CSO data shows that in August 2024, 3,990 homes purchased at market prices were filed with the Revenue Commissioners, representing a decrease of 14.0% when compared with the 4,640 purchases a year earlier.
Property prices nationally have increased by 152.9% from their trough in early 2013, the CSO noting that Dublin residential property prices have risen by 152.1% from their February 2012 low, while the prices of a home in the Rest of Ireland are 162.4% higher than at the trough of May 2013.
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