Property prices up 10.7% year-on-year, according to latest CSO report

Property prices up 10.7% year-on-year, according to latest CSO report

Residential property prices at a national level increased by 10.7% in the year to February.

The latest figures from the CSO are on a par with the MyHome.ie Property Report released at the start of April which showed prices were up 10.3% year-on-year.

The latest CSO increase compares with an an increase of 8.1% in the year to January and an increase of 5.4% in the twelve months to February 2016.

In Dublin, residential property prices increased by 8.3% in the year to February. Dublin house prices increased 8.1% whereas apartments increased 9.1% in the same period. The highest house price growth was in Dublin City, at 9.2%. In contrast, the lowest growth was in Fingal, with house prices rising just 3.7%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 13.2% higher in the year to February. House prices in the Rest of Ireland increased 13.1% over the period. The West region showed the greatest price growth, with house prices increasing 19.8%.  In contrast, the Mid-East region showed the least price growth, with house prices increasing 9.3%. Apartment prices in the Rest of Ireland increased 13.9% in the same period.

Overall, the national index is 30.7% lower than its highest level in 2007. Dublin residential property prices are 31.3% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 35.7% lower than their May 2007 peak.

From the trough in early 2013, prices nationally have increased by 52.1%. In the same period, Dublin residential property prices have increased 67.9% whilst residential property prices in the Rest of Ireland are 47.9% higher.

There are 2 comments for this article
  1. STEPHEN at 5:57 pm

    Statistics and more statistics are of little help or use to the homeless. Affordable mortgages do not exist as the market will determine interest rates. There is nothing wrong with social housing. However, it is a piece-meal effort in order to get the government off the hook of having an intelligent strategy for the homeless. Good quality and attractive public housing financed by government is the way forward.

  2. peadar at 5:13 pm

    Housing is now a national crisis. All the talk seems to be in relation to either social housing, or standard open market housing. What about the majority, who cannot afford open market housing and yet do not really want to take social housing, they would prefer to be able to get a mortgage and buy “Affordable housing”. The government, the banks and the eu – tied together and tiered down are to blame. They are what my daughter with two young children calls – the “fu~~ed generation”. They just want to be able to get a mortgage, buy a house that is affordable, without living in poverty, and have a garden for their children to play in.{ Cat Stevens }.
    The government as usual are impotent and sterile – might a swell not be there at all if you ask me. They will do nothing of real impact to deal with this problem. The higher the demand, the higher the price – economic basic law. Reduce demand by increased production and prices will fall, overall.

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