Residential property prices up 8.2% in the year to September

Residential property prices up 8.2% in the year to September

Residential property prices at national level increased by 8.2% in the year to September, according to the latest figures from the Central Statistics Office.

This compares with an increase of 8.9% in the year to August and an increase of 12.0% in the twelve months to September 2017.

In Dublin, residential property prices increased by 5.8% in the year to September. Dublin house prices increased by 5.5%, while apartment prices were up by 7.8% in the same period. The highest house price growth was in Dún Laoghaire-Rathdown, at 8.3%. In contrast, the lowest growth was in South Dublin, where house prices increased by 4.2%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 10.8% higher in the year to September. House prices in the Rest of Ireland increased by 10.2% over the period. The Mid-West region showed the greatest price growth, with house prices increasing by 21.0%. The Border region showed the least price growth, with house prices increasing by 5.8%. Apartment prices in the Rest of Ireland increased by 16.7% in the same period.

Overall, the national index is 18.1% lower than its highest level in 2007. Dublin residential property prices are 20.8% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 22.7% lower than their May 2007 peak.

From the trough in early 2013, prices nationally have increased by 82.8%. Dublin residential property prices have increased by 96.1% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 77.8% higher than the trough, which was in May 2013.

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