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Residential Property Price Index May 2017

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CSO statistical publication, 11 July 2017, 11am

On-line ISSN: 2009-5236

Residential property prices rise by 11.9% in the year to May

Table 1.1: Residential Property Price Index
MonthPrice Index (Jan 2005=100)Monthly % change Annual % change
March 201789.80.29.6
April 201790.40.710.0
May 201792.42.211.9
The latest two month's RPPI results are provisional and subject to revision.
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-108979.193.7
Mar-1087.57792.8
Apr-108776.392.5
May-1085.475.890.1
Jun-108575.190
Jul-1084.874.790
Aug-1084.375.188.8
Sep-1083.375.486.6
Oct-1081.774.384.7
Nov-108072.883
Dec-1078.671.281.8
Jan-1178.270.181.9
Feb-1176.868.880.5
Mar-1174.867.278.2
Apr-1173.866.876.8
May-1172.765.875.6
Jun-1171.565.573.7
Jul-1170.764.872.7
Aug-1169.463.671.5
Sep-1167.961.870.4
Oct-116760.769.6
Nov-1165.659.368.4
Dec-1164.158.166.5
Jan-1262.656.964.8
Feb-1261.255.363.5
Mar-1261.655.663.9
Apr-1260.555.262.2
May-1260.555.262.2
Jun-1260.555.561.9
Jul-126156.861.7
Aug-1260.957.461
Sep-1261.45861.2
Oct-1261.458.560.9
Nov-1261.358.760.4
Dec-1261.759.460.4
Jan-1360.858.859.3
Feb-1360.25859
Mar-1359.758.257.6
Apr-1359.858.956.9
May-1359.859.556.2
Jun-1361.561.857.1
Jul-1363.364.357.7
Aug-1364.465.958
Sep-1365.56759.1
Oct-1365.867.459.2
Nov-1366.26859
Dec-1367.26959.9
Jan-1466.96959.5
Feb-1466.86959.3
Mar-1467.369.959.2
Apr-1468.771.760.1
May-1470.573.861.1
Jun-147377.261.9
Jul-1475.580.563
Aug-1476.981.764.4
Sep-1478.483.465.6
Oct-1479.283.867
Nov-1479.383.667.5
Dec-1478.782.667.7
Jan-1578.482.867.8
Feb-1577.882.667.2
Mar-1577.682.667.3
Apr-1577.782.567.8
May-1578.482.869
Jun-1579.583.870
Jul-1580.184.170.9
Aug-1581.18571.9
Sep-1581.785.272.8
Oct-1582.786.273.8
Nov-1582.686.473.5
Dec-1582.385.873.6
Jan-1682.886.673.7
Feb-168285.673.4
Mar-1681.985.573.5
Apr-1682.285.873.8
May-1682.685.674.8
Jun-1683.48676.1
Jul-1685.487.578.6
Aug-1686.688.879.5
Sep-1687.990.380.6
Oct-1688.390.681.1
Nov-1689.391.681.9
Dec-1688.790.881.5
Jan-1789.391.482.2
Feb-1789.69282.1
Mar-1789.892.881.8
Apr-1790.492.483.4
May-1792.495.284.4

In the year to May, residential property prices at national level increased by 11.9%. This compares with an increase of 10.0% in the year to April and an increase of 5.4% in the twelve months to May 2016.

In Dublin, residential property prices increased by 11.2% in the year to May. Dublin house prices increased 11.5%. Whereas apartments increased 8.0% in the same period. The highest house price growth was in South Dublin, at 12.4%. In contrast, the lowest growth was in Fingal, with house prices rising 6.8%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 12.8% higher in the year to May. House prices in the Rest of Ireland increased 12.2% over the period. The South-East region showed the greatest price growth, with house prices increasing 18.6%.  The Mid-East region showed the least price growth, with house prices increasing 8.7%. Apartment prices in the Rest of Ireland increased 20.6% in the same period. 

Overall Decline

Overall, the national index is 29.5% lower than its highest level in 2007. Dublin residential property prices are 29.5% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 34.7% lower than their May 2007 peak.

Recovery

From the trough in early 2013, prices nationally have increased by 54.8%. In the same period, Dublin residential property prices have increased 72.5% whilst residential property prices in the Rest of Ireland are 50.2% higher.

Price Indexannual % change
National - all residential properties11.9
National - houses11.9
National - apartments10.3
Dublin - all residential properties11.2
Dublin - houses11.5
Dublin - apartments8
Dublin City - houses11.8
Dun Laoghaire-Rathdown - houses9.3
Fingal - houses6.8
South Dublin - houses12.4
National excluding Dublin - all residential properties12.8
National excluding Dublin - houses12.2
National excluding Dublin - apartments20.6
Border excluding Louth - houses16.2
Midland - houses12.1
West - houses18.2
Mid-East including Louth - houses8.7
Mid-West including South Tipperary - houses10.5
South-East excluding South Tipperary - houses18.6
South-West - houses11.4
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

Go to next chapter >>> Additional Indicators