Residential property prices down 0.6% in the year to August

Residential property prices down 0.6% in the year to August

Residential property prices decreased by 0.6% nationally in the year to August, according to the latest figures from the Central Statistics Office (CSO).

This compares to a decrease of 0.6% in the year to July and an increase of 1.9% in the twelve months to August 2019.

In Dublin, residential property prices saw a decline of 1.6% in the year to August – house prices decreased by 1.4% and apartments increased by 0.1%. The highest house price growth in Dublin was in Fingal at 1.7%, while Dublin City saw a decline of 3.4%.

Residential property prices in Ireland excluding Dublin were 0.3% higher in the year to August, with house prices up by 0.4% and apartments down by 0.7%. The region outside of Dublin that saw the largest rise in house prices was the South-West at 5.2% – at the other end of the scale, the Border saw a 2.7% decline.

Overall, the national index is 17.6% lower than its highest level in 2007. Dublin residential property prices are 22.6% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 20.1% lower than their May 2007 peak.

Property prices nationally have increased by 83.8% from their trough in early 2013. Dublin residential property prices have risen 91.8% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 83.9% higher than at the trough, which was in May 2013.

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