Residential property prices increase by 2.8% nationally in the year to May

Residential property prices increase by 2.8% nationally in the year to May

Residential property prices increased by 2.8% nationally in the year to May, according to the latest figures from the Central Statistics Office (CSO).

This compares with an increase of 3% in the year to April and an increase of 12.4% in the twelve months to May 2018.

In Dublin, residential property prices rose by 0.6% in the year to May, with house prices up 0.4% and apartments rising by 0.8%. The highest house price growth in Dublin was in South Dublin at 4.0%, while Dun Laoghaire-Rathdown, conversely, saw a decline of 2.6%.

Residential property prices in Ireland excluding Dublin were 5.1% higher in the year to May, with house prices up by 5.2% and apartments by 5.2%. The region outside of Dublin that saw the largest rise in property prices was the Border at 15.2%, while the smallest rise was recorded in the Mid-East at 0.5%.

Overall, the national index is 18.2% lower than its highest level in 2007. Dublin residential property prices are 21.9% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 21.8% lower than their May 2007 peak.

Property prices nationally have increased by 82.6% from their trough in early 2013. Dublin residential property prices have risen 93.4% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 79.9% higher than at the trough, which was in May 2013.

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