Residential property prices increase 0.3% in April

Residential property prices increase 0.3% in April

Residential property prices increased by 0.3% in the month of April, according to the latest figures from the Central Statistics Office (CSO).

This compares with no change in March and an increase of 0.6% recorded in April of last year.

In the year to April, residential property prices at a national level increased by 7.1%. This compares with an increase of 7.4% in March and an increase of 15.8% recorded in the twelve months to April 2015.

n Dublin residential property prices increased by 1.6% in April and were 4.6% higher than a year ago.  Dublin house prices increased by 1.9% in the month and were 5.0% higher compared to a year earlier.  Dublin apartment prices were 1.1% higher when compared with the same month of 2015. However, it should be noted that the sub-indices for apartments are based on low volumes of observed transactions and consequently suffer from greater volatility than other series.

The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) decreased by 0.6% in April compared with an increase of 0.3% in April of last year.  Prices were 9.5% higher than in April 2015.

House prices in Dublin are 33.1% lower than at their highest level in early 2007.  Apartments in Dublin are 41.5% lower than they were in February 2007.  Residential property prices in Dublin are 35.2% lower than at their highest level in February 2007.  The price of residential properties in the Rest of Ireland is 35.8% lower than their highest level in September 2007.  Overall, the national index is 33.3% lower than its highest level in 2007.

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