Irish house prices rise by over 10% in a year

Eva Osborne

House prices in the State continued to increase in August and hit double-digit growth, with the national Residential Property Price Index (RPPI) increasing by 10.1 per cent in the 12 months prior.

Prices in Dublin rose by 10.8 per cent and prices outside Dublin were up by 9.6 per cent.

In August 2024, 3,990 dwelling purchases by households at market prices were filed with the Revenue Commissioners, down by 14 per cent when compared with the 4,640 purchases in August 2023.

The median price of a dwelling purchased in the 12 months to August 2024 was €345,000.

The lowest median price for a dwelling in the 12 months to August 2024 was €175,000 in Longford, while the highest median price was €635,000 in Dún Laoghaire-Rathdown.

In Dublin, residential property prices saw an increase of 10.8 per cent, while property prices outside Dublin were 9.6 per cent higher in August 2024 when compared with a year earlier.

In the 12 months to August 2024, house prices in Dublin rose by 11.6 per cent while apartment prices increased by 7.9 per cent. The highest house price growth in Dublin was in Fingal at 12.4 per cent while Dún Laoghaire-Rathdown saw a rise of 10.3 per cent.

Outside Dublin, house prices were up by 9.5 per cent and apartment prices increased by 10.1 per cent.

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 per cent, while at the other end of the scale, the Mid-East (Kildare, Louth, Meath, and Wicklow) saw an 8 per cent rise.

In August 2024, 3,990 dwelling purchases by households at market prices were filed with the Revenue Commissioners, a decrease of 14 per cent when compared with the 4,640 purchases in August 2023.

Households paid a median or mid-point price of €345,000 for a residential property in the 12 months to August 2024. The lowest median price paid for a dwelling was €175,000 in Longford, while the highest was €635,000 in Dún Laoghaire-Rathdown.

The most expensive Eircode area over the 12 months to August 2024 was D06 'Dublin 6' with a median price of €725,000, while H23 'Clones' had the least expensive price of €135,000.