Residential property prices up 3.6% on last year
By Cillian Sherlock, PA
The rate of average residential property price increases has eased to 3.6 per cent in the year to the end of April, according to the latest national price index from the Central Statistics Office.
This is down from a 4 per cent increase in the year to March 2023 and the high value of 15.1 per cent in the 12 months to February and March 2022.
The CSO’s residential property index showed that prices in Dublin rose by 1.0 per cent and prices outside Dublin by 5.6 per cent in the 12 months up to the end of April.
In April 2023, 3,262 dwelling purchases by households at market prices were filed with the Revenue Commissioners, down by 5.3 per cent compared with the 3,446 purchases in April 2022.
The median price of a dwelling purchased in the 12 months to April 2023 was €313,000.
The lowest median price for a house in the 12 months to April 2023 was €160,000 in Longford, while the highest median price was €634,998 in Dún Laoghaire-Rathdown.
Commenting on the release, CSO statistician Viacheslav Voronovich said: “In Dublin, house prices increased by 1.1 per cent and apartment prices were up by 0.9 per cent.
“The highest house price growth in Dublin was in South Dublin at 5.1 per cent, while Dublin City saw a decline of 2.5 per cent.
“Outside Dublin, house prices were up by 5.9 per cent and apartment prices rose by 1.8 per cent. The region outside of Dublin that saw the largest rise in house prices was the Midlands at 6.6 per cent, while at the other end of the scale, the Border region saw a 4.7 per cent rise. ”
The most expensive Eircode area over the 12 months to April 2023 was A94 Blackrock with a median price of €748,000, while F35 Ballyhaunis had the least expensive price of €127,500.
The Residential Property Price Index (RPPI) is designed to measure the change in the average level of prices paid by households for residential properties sold in Ireland.
The RPPI specifically excludes non-household purchases, non-market purchases and self-builds (ie where the land is purchased separately).
