Residential property prices up 5.6% in January

Residential property prices up 5.6% in January

Residential property prices increased by 5.6% nationally in the year to January, according to the latest figures from the Central Statistics Office (CSO).

This compares with an increase of 6.4% in the year to December and an increase of 11.8% in the twelve months to January 2018.

In Dublin, residential property prices rose by 1.9% in the year to January with house prices rising by 2.3% and apartments by 1.6%. The highest house price growth in Dublin was in South Dublin at 4.0%, while the lowest growth was in Fingal at 2.6%.

Residential property prices in Ireland excluding Dublin were 9.5% higher in the year to January, with house prices up by 8.5% and apartments up by 18.6%. The region outside of Dublin that saw the largest rise in property prices was the Mid-West at 16.5%, while the smallest rise was recorded in the Mid-East at 5.1%.

Overall, the national index is 18.4% lower than its highest level in 2007. Dublin residential property prices are 22.4% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 21.7% lower than their May 2007 peak.

Property prices nationally have increased by 82.1% from their trough in early 2013. Dublin residential property prices have risen 92.3% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 80.1% higher than at the trough, which was in May 2013.

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