Residential property prices up 12.1% in the year to October

Residential property prices up 12.1% in the year to October

Residential property prices at national level increased by 12.1% in the year to October. This compares with an increase of 12.2% in the year to September and an increase of 7.5% in the twelve months to October 2016.

That’s according to the latest Residential Property Price Index, released by the Central Statistics Office (CSO) today.

In Dublin, residential property prices increased by 11.6% in the year to October. Dublin house prices increased 11.6%. Apartments in Dublin increased 12.1% in the same period. The highest house price growth was in South Dublin, at 14.4%. In contrast, the lowest growth was in Dun Laoghaire-Rathdown, with house prices rising 9.7%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 12.8% higher in the year to October. House prices in the Rest of Ireland increased 12.5% over the period. The West region showed the greatest price growth, with house prices increasing 15.8%.  The Midland region showed the least price growth, with house prices increasing 8.0%. Apartment prices in the Rest of Ireland increased 15.9% in the same period.

Overall, the national index is 23.7% lower than its highest level in 2007. Dublin residential property prices are 24.7% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 29.6% lower than their May 2007 peak.

From the trough in early 2013, prices nationally have increased by 70.2%. In the same period, Dublin residential property prices have increased 86.4% whilst residential property prices in the Rest of Ireland are 61.9% higher.

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