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Gaeilge

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Volume up 3.4% compared to July 2017

Table 2.1: Household market transactions filed with Revenue
MonthVolume Value (million)Median PriceMean Price
June 20173,441€916.0€215,650€266,196
July 20173,878€1,070.8€230,000€276,134
August 20174,011€1,130.8€235,000€281,930

The CSO has adopted median price as opposed to mean price as its principal indicative descriptor for residential property prices. This publication and future RPPI publications will emphasise median prices over mean prices. As before, the CSO will continue to publish both means and medians on StatBank. For more on this topic please see the information note or the CSO video describing the difference between mean and median.

Volume and Value

In the month of August, there were 4,011 household market residential dwelling purchases filed with the Revenue Commissioners. This represents a 13.0% increase compared to August 2016, when 3,551 purchases were filed, and an increase of 3.4% compared to July 2017, when 3,878 purchases were filed. The total value of the market based on transactions filed in August was €1,130.8 million.

New and Existing Dwellings

Of the 4,011 household market dwelling purchases filed with the Revenue Commissioners in August, 612 (15.3%) were for new dwellings and 3,399 (84.7%) were for existing dwellings. Compared to August 2016, the volume of new dwelling purchases increased by 29.1% and the volume of existing dwelling purchases increased by 10.5% (See Figure 2.1).

 

X-axis labelNewExisting
Jan-10372610
Feb-10449824
Mar-106021005
Apr-10538955
May-105771146
Jun-105371190
Jul-105261362
Aug-105351418
Sep-105161382
Oct-104191153
Nov-105191219
Dec-104111037
Jan-113501026
Feb-11358876
Mar-11351987
Apr-11254854
May-11322991
Jun-113351040
Jul-112751200
Aug-112391140
Sep-112911298
Oct-112251152
Nov-112301361
Dec-112341422
Jan-122471163
Feb-122101072
Mar-122241077
Apr-121591007
May-122371305
Jun-122271216
Jul-122631626
Aug-122271674
Sep-122211465
Oct-122601717
Nov-124752631
Dec-122691708
Jan-133591988
Feb-131801168
Mar-132191170
Apr-131951359
May-132561532
Jun-132011465
Jul-132822090
Aug-132611971
Sep-132671961
Oct-132752179
Nov-133062246
Dec-134052233
Jan-143712385
Feb-142551575
Mar-142831928
Apr-143111941
May-143332159
Jun-143302172
Jul-144162884
Aug-143132592
Sep-144173045
Oct-143713033
Nov-144142719
Dec-145383632
Jan-155263671
Feb-153462668
Mar-153792785
Apr-153672467
May-153642493
Jun-153912605
Jul-154503300
Aug-153642913
Sep-153743208
Oct-154063096
Nov-153813042
Dec-154833359
Jan-163922745
Feb-163412580
Mar-163312519
Apr-164222489
May-164232667
Jun-164712706
Jul-164882966
Aug-164743077
Sep-164643180
Oct-164663070
Nov-166213351
Dec-166243283
Jan-174972940
Feb-174402470
Mar-174782824
Apr- 174862302
May-176392817
Jun-175622879
Jul-176243254
Aug-176123399

Buyer Type

In the 12 months to August, there were 42,282 household market dwelling purchases filed with the Revenue Commissioners. Of these, 11,562 (27.3%) were purchases by first-time buyer owner-occupiers; 21,836 (51.6%) were purchases by former owner-occupiers; 8,884 (21.0%) were purchases by non-occupiers (see Figure 2.2).

In August 1,132 first-time buyer purchases were filed with Revenue. This is an increase of 20.2% compared to August 2016 and a decrease of 0.2% compared to July 2017. These purchases comprised 255 new dwellings and 877 existing dwellings.

Buyer Type
27.3%
First-Time Buyer
11562
51.6%
Former Owner-Occupier
21836
21.0%
Non-Occupier
8884

Median Price

In the 12 months to August, the median price paid by households for a dwelling on the residential property market was €215,000.

Dublin was the region with the highest median price (€337,000) in the year to August. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown had the highest median price (€510,000). Whereas, Fingal had the lowest median price (€301,000).

Outside Dublin, the highest median prices were in Wicklow (€294,000) and Kildare (€265,000).

The lowest median prices for a dwelling were in Longford (€79,447) and Roscommon (€85,000) (See Figure 2.3).

Mean Price

In the 12 months to August, the mean market price paid by households for a dwelling was €262,846.

In the year to August, the mean price paid by households was higher in Dublin than in any other region or county. The mean price paid for a dwelling in Dublin was €416,653. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown was the most expensive, with a mean price of €590,531 over the 12 month period. In contrast, South Dublin was the least expensive, with a mean price of €343,050.

After Dublin, the next most expensive region was the Mid-East, where the mean price paid by households was €264,097. Within the Mid-East, Co. Wicklow was most expensive, with a mean price of €329,468, making it the second most expensive county after Co. Dublin.

The least expensive region for household purchases over the last 12 months was the Border region, with a mean price of €123,570. However, the least expensive county was Co. Longford in the Midland region, with a mean price of €95,647 (see Figure 2.4).

Note 

Neither median nor mean prices are appropriate for measuring the evolution of property prices as the mix of houses sold in different periods can change over time. The Residential Property Price Index is the definitive measure of property price trends.

The Statbank Tables are available here

Go to next chapter >>> House Prices by Eircode