Property prices rising faster around the country than in Dublin

Property prices rising faster around the country than in Dublin

Residential property prices at national level increased by 12.0% in the year to June.

That’s according to the latest Residential Property Price Index from the Central Statistics Office.

The 12.0% rise compares with an increase of 12.4% in the year to May and an increase of 11.4% in the twelve months to June 2017.

In Dublin, residential property prices increased by 9.0% in the year to June. Dublin house prices increased 8.4%. Apartments in Dublin increased 12.8% in the same period. The highest house price growth was in Dublin City, at 12.0%. In contrast, the lowest growth was in South Dublin, where house prices increased 5.9%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 15.2% higher in the year to June. House prices in the Rest of Ireland increased 14.6% over the period. The Mid-West region showed the greatest price growth, with house prices increasing 22.3%. The Border region showed the least price growth, with house prices increasing 4.9%. Apartment prices in the Rest of Ireland increased 20.3% in the same period.

Overall, the national index is 19.5% lower than its highest level in 2007. Dublin residential property prices are 22.2% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 24.2% lower than their May 2007 peak.

From the trough in early 2013, prices nationally have increased by 79.6%. Dublin residential property prices have increased 92.7% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 74.4% higher than the trough, which was in May 2013.

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