Table 2.1: Household market transactions filed with Revenue | ||||
Month | Volume | Value (million) | Average Price | Median Price |
March 2017 | 3,026 | €754.8 | €249,444 | €200,000 |
April 2017 | 2,488 | €605.0 | €243,158 | €200,000 |
May 2017 | 3,067 | €770.8 | €251,305 | €204,000 |
Volume and Value
In the month of May, there were 3,067 household market residential dwelling purchases filed with the Revenue Commissioners. This represents a 6.5% increase compared to May 2016, when 2,881 purchases were filed, and an increase of 23.3% compared to April 2017, when 2,488 purchases were filed. The total value of the market based on transactions filed in May was €770.8 million.
New and Existing Dwellings
Of the 3,067 household market dwelling purchases filed with the Revenue Commissioners in May, 262 (8.5%) were for new dwellings and 2,805 (91.5%) were for existing dwellings. Compared to May 2016, the volume of new dwelling purchases increased by 22.4% and the volume of existing dwelling purchases increased by 5.2% (See Figure 2.1).
X-axis label | New | Existing |
---|---|---|
Jan-10 | 114 | 610 |
Feb-10 | 152 | 824 |
Mar-10 | 185 | 1005 |
Apr-10 | 147 | 955 |
May-10 | 176 | 1146 |
Jun-10 | 187 | 1190 |
Jul-10 | 188 | 1362 |
Aug-10 | 176 | 1418 |
Sep-10 | 176 | 1382 |
Oct-10 | 124 | 1153 |
Nov-10 | 182 | 1219 |
Dec-10 | 138 | 1037 |
Jan-11 | 122 | 1026 |
Feb-11 | 115 | 876 |
Mar-11 | 140 | 987 |
Apr-11 | 88 | 854 |
May-11 | 106 | 967 |
Jun-11 | 125 | 1040 |
Jul-11 | 94 | 1200 |
Aug-11 | 106 | 1140 |
Sep-11 | 104 | 1298 |
Oct-11 | 101 | 1152 |
Nov-11 | 97 | 1361 |
Dec-11 | 95 | 1422 |
Jan-12 | 111 | 1163 |
Feb-12 | 111 | 1072 |
Mar-12 | 127 | 1077 |
Apr-12 | 84 | 1006 |
May-12 | 107 | 1305 |
Jun-12 | 101 | 1216 |
Jul-12 | 109 | 1626 |
Aug-12 | 110 | 1674 |
Sep-12 | 108 | 1465 |
Oct-12 | 122 | 1717 |
Nov-12 | 239 | 2631 |
Dec-12 | 117 | 1708 |
Jan-13 | 191 | 1988 |
Feb-13 | 104 | 1168 |
Mar-13 | 121 | 1170 |
Apr-13 | 112 | 1359 |
May-13 | 148 | 1532 |
Jun-13 | 106 | 1465 |
Jul-13 | 138 | 2090 |
Aug-13 | 132 | 1960 |
Sep-13 | 149 | 1961 |
Oct-13 | 132 | 2179 |
Nov-13 | 156 | 2246 |
Dec-13 | 225 | 2233 |
Jan-14 | 218 | 2385 |
Feb-14 | 143 | 1575 |
Mar-14 | 146 | 1928 |
Apr-14 | 160 | 1941 |
May-14 | 184 | 2159 |
Jun-14 | 195 | 2172 |
Jul-14 | 234 | 2884 |
Aug-14 | 156 | 2592 |
Sep-14 | 221 | 2979 |
Oct-14 | 180 | 3033 |
Nov-14 | 195 | 2719 |
Dec-14 | 295 | 3632 |
Jan-15 | 270 | 3661 |
Feb-15 | 159 | 2668 |
Mar-15 | 201 | 2785 |
Apr-15 | 194 | 2467 |
May-15 | 195 | 2493 |
Jun-15 | 198 | 2605 |
Jul-15 | 222 | 3300 |
Aug-15 | 198 | 2896 |
Sep-15 | 182 | 3208 |
Oct-15 | 218 | 3096 |
Nov-15 | 202 | 3042 |
Dec-15 | 250 | 3359 |
Jan-16 | 212 | 2743 |
Feb-16 | 182 | 2580 |
Mar-16 | 178 | 2519 |
Apr-16 | 209 | 2489 |
May-16 | 214 | 2667 |
Jun-16 | 238 | 2706 |
Jul-16 | 231 | 2966 |
Aug-16 | 224 | 3051 |
Sep-16 | 209 | 3170 |
Oct-16 | 206 | 3052 |
Nov-16 | 307 | 3331 |
Dec-16 | 265 | 3268 |
Jan-17 | 218 | 2918 |
Feb-17 | 213 | 2445 |
Mar-17 | 236 | 2790 |
Apr- 17 | 204 | 2284 |
May-17 | 262 | 2805 |
New Dwellings The new dwelling statistics currently comprise ‘turn-key ready’ house and apartment sales only. Partially completed dwellings and self-builds are outside the scope of the RPPI, as defined by Commission Regulation (EU) 93/2013 and its accompanying Technical Manual on Owner-Occupier Housing. However, there are other categories of new dwelling purchases that have attributes of both self-builds and turn-key purchases - principally sales of sites with associated building agreements. Technically, in these cases, the site and the construction of the dwelling are purchased separately. In practice, both purchases are made from the same developer. To date, the RPPI has not included these types of purchases in its new dwelling statistics as they were initially judged to be self-builds. Given the importance of new dwelling statistics as an economic indicator, the CSO has reviewed the nature of these transactions and decided to include the sales of sites with associated building agreements in its additional indicators. The CSO is currently processing the backlog of these transactions with the goal of providing the most complete and comprehensive information possible on new dwelling sales. The CSO expects to publish the revised new dwelling statistical series, backdated to January 2010, in its June 2017 publication (due for release August 2017). |
|
Buyer Type
In the 12 months to May, there were 37,599 household market dwelling purchases filed with the Revenue Commissioners. Of these, 9,665 (25.7%) were purchases by first-time buyer owner-occupiers; 19,447 (51.7%) were purchases by former owner-occupiers; 8,487 (22.6%) were purchases by non-occupiers (see Figure 2.2).
In May 820 first-time buyer purchases were filed with Revenue. This is an increase of 16.0% compared to May 2016 and an increase of 25.4% compared to April 2017. These purchases comprised 103 new dwellings and 717 existing dwellings.
Buyer Type | |
25.7%First-Time Buyer | 9665 |
51.7%Former Owner-Occupier | 19447 |
22.6%Non-Occupier | 8487 |
Average Price
In the 12 months to May, the average market price paid by households for a dwelling was €249,358.
In the year to May, the average price paid by households was higher in Dublin than in any other region or county. The average price paid for a dwelling in Dublin was €401,600. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown was the most expensive, with an average price of €564,034 over the 12 month period. Whereas, South Dublin was the least expensive, with an average price of €318,833.
After Dublin, the next most expensive region was the Mid-East, where the average price paid by households was €249,966. Within the Mid-East, Co. Wicklow was most expensive, with an average price of €317,585, 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 an average price of €118,427. However, the least expensive county was Co. Longford in the Midland region, with an average price of €90,502 (see Figure 2.3).
Median Price
In the 12 months to May, the median price paid by households for a dwelling on the residential property market was €197,699.
Dublin was the region with the highest median price (€320,000) in the year to May. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown had the highest median price (€475,000). Whereas, Fingal had the lowest median price (€280,000).
Outside Dublin, the highest median prices were in Wicklow (€280,000) and Kildare (€250,000).
The lowest median prices for a dwelling were in Longford (€75,000) and Roscommon (€82,000) (See Figure 2.4).
Note
Neither average nor median 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
Learn about our data and confidentiality safeguards, and the steps we take to produce statistics that can be trusted by all.