Residential property sales jump by almost 50% in 12 months

Property prices increased by 8.6 per cent nationally and by 9.1 per cent outside of Dublin.
Residential property sales jump by almost 50% in 12 months

The volume of residential properties sold in July this year was 49.2 per cent higher than July 2020, according to figures from the Central Statistics Office (CSO).

In July 2021, 3,822 dwellings were purchased at market prices filed with Revenue, 3,221 (84.3 per cent) of which were existing dwellings and 601 (15.7 per cent) were new builds.

Prices increased by 8.1 per cent in Dublin and 9.1 per cent outside the capital in the year to July, giving a national increase of 8.6 per cent.

The latest figures show purchase volumes have returned to pre-pandemic levels. In the first seven months of this year, 24,280 dwellings were purchased at market prices compared to 24,416 during the same period of 2019.

The price increases, broken down by type of dwelling and location, show house prices in the Border region noted the largest jump, increasing by 16.2 per cent, followed by apartments outside of Dublin, which increased 14.6 per cent.

The smallest increases were noted among apartments in Dublin (+3.7 per cent) and houses in the south-west (+5.3 per cent).

The figures show the median price for residential properties purchased in the year to July was €267,000. In Dublin, Dún Laoghaire-Rathdown had the highest median sale price (€560,000), while Wicklow (€370,000) and Kildare (€330,000) had the highest median prices by county excluding Dublin.

The county with the lowest median sale price for the 12-month period was Longford (€120,000), and within Dublin, Fingal was the area with the lowest median price (€362,125).

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