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Residential Property Price Index June 2017

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CSO statistical publication, 09 August 2017, 11am

On-line ISSN: 2009-5236

Residential property prices rise by 11.6% in the year to June

Table 1.1: Residential Property Price Index
MonthPrice Index (Jan 2005=100)Monthly % change Annual % change
April 201791.40.39.5
May 201793.01.811.1
June 201794.31.411.6
The latest two month's RPPI results are provisional and subject to revision.

 

Revisions to the Residential Property Price Index

The RPPI has been revised back to January 2010. The revisions are very minor at an aggregate level and are principally due to the inclusion of additional categories of new dwellings in the compilation. More details can be found here

MonthNationalDublinRest of Ireland
Jan-05100100100
Feb-05100.8102.1100.1
Mar-05101.4102.9100.5
Apr-05102.1103.6101.2
May-05102.8104.4101.9
Jun-05103.7104.5103.3
Jul-05105.3105.7105.1
Aug-05107.1107.8106.7
Sep-05108.2109.7107.4
Oct-05110.6112.8109.3
Nov-05111.5114.3110
Dec-05112.6114.9111.4
Jan-06113.2115.4111.9
Feb-06113.5116.4111.8
Mar-06114.1117.1112.4
Apr-06115.8119.2113.9
May-06118.2122.3115.8
Jun-06120.3125.5117.4
Jul-06123129.5119.5
Aug-06125.8133.3121.6
Sep-06126.8133.5123.1
Oct-06127.6134.4123.8
Nov-06127.6133.9124.1
Dec-06128.6134.1125.5
Jan-07129.7134.3127.1
Feb-07130.3135127.7
Mar-07130.5133.7128.6
Apr-07131134129.2
May-07130.6132.7129.3
Jun-07130.3133128.7
Jul-07130.6133.7128.8
Aug-07130.4133128.8
Sep-07130.4133.3128.7
Oct-07130133.3128.1
Nov-07130132.2128.7
Dec-07129.2130.5128.4
Jan-08128.1127.5128.2
Feb-08127126.8126.9
Mar-08125.9126.1125.6
Apr-08124.8126.1124.1
May-08123.5126.2122.1
Jun-08122.3124.9120.9
Jul-08121.6123.4120.5
Aug-08120.3121.7119.5
Sep-08118.8117.5119.1
Oct-08116.2113.4117.2
Nov-08114.1110.2115.7
Dec-08111.9108113.5
Jan-09109105110.8
Feb-09106100.3108.5
Mar-09103.296.6106.3
Apr-09100.992.9104.6
May-0998.590.9102.1
Jun-0996.989.8100.2
Jul-0995.588.998.5
Aug-0994.38996.6
Sep-0994.288.696.8
Oct-0993.186.696.2
Nov-0992.88596.4
Dec-0991.583.295.5
Jan-1090.681.195.2
Feb-1089.279.294.1
Mar-1088.177.593.6
Apr-1087.677.392.8
May-1086.176.590.7
Jun-1085.175.589.9
Jul-1084.27588.8
Aug-108475.487.9
Sep-108375.286.2
Oct-1081.67484.6
Nov-1079.972.582.9
Dec-1078.771.281.8
Jan-117870.581.3
Feb-1176.56979.8
Mar-1174.767.178.1
Apr-1173.766.676.6
May-1172.465.575.2
Jun-1171.364.674.1
Jul-1169.863.672.2
Aug-116862.370
Sep-1166.660.668.9
Oct-1165.459.467.7
Nov-1164.358.166.9
Dec-1163.35766.1
Jan-1262.35665.1
Feb-1260.954.563.9
Mar-1261.254.964.1
Apr-1260.254.762.4
May-126054.762
Jun-1259.95561.5
Jul-1260.556.161.5
Aug-1260.656.861
Sep-1261.157.561.2
Oct-1261.35861.1
Nov-1261.158.460.3
Dec-1261.359.160
Jan-1360.258.658.3
Feb-1359.557.658.1
Mar-1358.757.256.8
Apr-135957.956.7
May-135958.356.2
Jun-1360.560.456.9
Jul-136262.657.4
Aug-1362.864.257.5
Sep-1363.865.358.3
Oct-1364.265.758.7
Nov-1364.566.558.4
Dec-1365.367.359.1
Jan-1465.467.658.9
Feb-1465.66859.1
Mar-1466.16958.9
Apr-1467.57159.5
May-1469.373.660.5
Jun-1471.376.661.2
Jul-1473.579.762.3
Aug-1474.981.563.3
Sep-1476.583.564.4
Oct-1477.38465.5
Nov-1477.683.866.3
Dec-147782.666.4
Jan-1577.38366.6
Feb-157782.666.5
Mar-1577.382.567
Apr-1577.982.668.1
May-1578.883.269.2
Jun-1580.184.370.5
Jul-1580.784.771.2
Aug-1581.785.672.2
Sep-158285.572.8
Oct-1582.986.673.5
Nov-1582.686.273.4
Dec-1582.585.873.5
Jan-1683.28773.8
Feb-1682.786.473.5
Mar-168386.673.8
Apr-1683.587.174.2
May-1683.786.874.7
Jun-1684.58776.1
Jul-1686.488.178.5
Aug-1687.689.479.5
Sep-1688.690.880.1
Oct-1689.19180.7
Nov-1690.292.181.9
Dec-1689.991.581.7
Jan-1790.59282.4
Feb-1790.792.282.7
Mar-1791.192.882.8
Apr-1791.492.184.1
May-179394.784.5
June-1794.396.785.1

In the year to June, residential property prices at national level increased by 11.6%. This compares with an increase of 11.1% in the year to May and an increase of 5.5% in the twelve months to June 2016.

In Dublin, residential property prices increased by 11.1% in the year to June. Dublin house prices increased 11.2%. Whereas apartments increased 10.6% in the same period. The highest house price growth was in South Dublin, at 11.8%. In contrast, the lowest growth was in Fingal, with house prices rising 5.4%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 11.8% higher in the year to June. House prices in the Rest of Ireland increased 11.8% over the period. The South-East region showed the greatest price growth, with house prices increasing 16.7%.  The Mid-West region showed the least price growth, with house prices increasing 8.4%. Apartment prices in the Rest of Ireland increased 13.4% in the same period.

Correction

The June 'Overall Decline' and 'Recovery' figures reported in this publication have been corrected (13 Sept 2017). The error occurred due to a mistake in the calculation that generates the figures, which happened during the index revision. Please see below for the updated results.

Overall Decline

Overall, the national index is 28.0% lower than its highest level in 2007. Dublin residential property prices are 28.4% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 34.2% lower than their May 2007 peak.

Recovery

From the trough in early 2013, prices nationally have increased by 60.6%. From their low point, Dublin residential property prices have increased 77.4% whilst residential property prices in the Rest of Ireland are 51.4% higher.

Price Indexannual % change
National - all residential properties11.6
National - houses11.5
National - apartments11.3
Dublin - all residential properties11.1
Dublin - houses11.2
Dublin - apartments10.6
Dublin City - houses11.6
Dun Laoghaire-Rathdown - houses10.6
Fingal - houses5.4
South Dublin - houses11.8
National excluding Dublin - all residential properties11.8
National excluding Dublin - houses11.8
National excluding Dublin - apartments13.4
Border excluding Louth - houses10.7
Midland - houses14.8
West - houses10.8
Mid-East including Louth - houses12.1
Mid-West including South Tipperary - houses8.4
South-East excluding South Tipperary - houses16.7
South-West - houses13.2
Show Table: Residential Property Price Index Breakdown(Base Jan 2005=100)

Note

Because the RPPI is based on Revenue stamp duty returns, which have a 44 day submission deadline, only a fraction of the two most recent months’ residential property transactions are available for index compilation the following month. This means that the RPPI for the latest two months is provisional and subject to revision. See background notes.

The Statbank Tables are available here

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