Residential property prices rise 8.6% in the year to August

Residential property prices rise 8.6% in the year to August

Residential property prices at national level increased by 8.6% in the year to August.

That’s according to the latest figures from the Central Statistics Office (CSO).

This compares with an increase of 10.0% in the year to July and an increase of 11.8% in the twelve months to August 2017.

In Dublin, residential property prices increased by 6.1% in the year to August. Dublin house prices increased 5.5%. Apartments in Dublin increased 9.3% in the same period. The highest house price growth was in Dún Laoghaire-Rathdown, at 9.0%. In contrast, the lowest growth was in South Dublin, where house prices increased 5.0%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 11.4% higher in the year to August. House prices in the Rest of Ireland increased 10.8% over the period. The Mid-West region showed the greatest price growth, with house prices increasing 21.5%. The Border region showed the least price growth, with house prices increasing 6.1%. Apartment prices in the Rest of Ireland increased 16.4% in the same period.

Overall, the national index is 18.9% lower than its highest level in 2007. Dublin residential property prices are 21.5% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 23.5% lower than their May 2007 peak.

From the trough in early 2013, prices nationally have increased by 81.1%. Dublin residential property prices have increased 94.5% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 76.0% higher than the trough, which was in May 2013.

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