Property prices continue to increase in April

Property prices continue to increase in April

Property prices are continuing to rise with a 1.1% increased recorded in April, according to the latest Residential Property Price Index from the Central Statistics Office (CSO).

In the year to April, residential property prices at national level increased by 10.5%. This compares with an increase of 9.6% in the year to March and an increase of 5.8% in the twelve months to April 2016.

In Dublin, residential property prices increased by 8.2% in the year to April. Dublin house prices increased by 8.1% whereas apartments increased 8.6% in the same period. The highest house price growth was in Dublin City, at 11.1%.

In contrast, the lowest growth was in Fingal, with house prices rising just 2.3%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 13.4% higher in the year to April. House prices in the Rest of Ireland increased 13.4% over the period. The West region showed the greatest price growth, with house prices increasing 17.8%.  The Midland region showed the least price growth, with house prices increasing 9.3%.

Apartment prices in the Rest of Ireland increased 16.3% 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 35.3% 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 68.1% whilst residential property prices in the Rest of Ireland are 48.9% higher.

Leave a Reply