Residential property prices up 13% in the year to February

Residential property prices up 13% in the year to February

Residential property prices at national level increased by 13% in the year to February, according to the latest figures from the Central Statistics Office (CSO).

This compares with an increase of 12% in the year to January and an increase of 9.7% in the twelve months to February 2017.

In Dublin, residential property prices increased by 12.7% in the year to February. Dublin house prices increased 12.3%. Apartments in Dublin increased 14.5% in the same period. The highest house price growth was in Dublin City at 14.2%. In contrast, the lowest growth was in Dun Laoghaire-Rathdown, where house prices increased 9.6%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 13.3% higher in the year to February. House prices in the Rest of Ireland increased 13.1% over the period. The Midland region showed the greatest price growth, with house prices increasing 14.8%. The South-East region showed the least price growth, with house prices increasing 8.6%. Apartment prices in the Rest of Ireland increased 14.6% in the same period.

Overall, the national index is 21.8% lower than its highest level in 2007. Dublin residential property prices are 23.0% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 27.5% lower than their May 2007 peak.

From the trough in early 2013, prices nationally have increased by 74.6%. Dublin residential property prices have increased 90.6% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 66.7% higher than the trough, which was in May 2013.

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