Press Statement

Preasráiteas

18 November 2020

Central Statistics Office (CSO) publishes quarterly price trends for new and existing dwellings for the first time

• Property prices for new dwellings were 1.7% higher in Q3 2020 compared with the same quarter in 2019, while prices for existing dwellings were 1.6% lower
• Prices of new dwellings rose by 71.6% from their low point in Q2 2013, while prices of existing dwellings are now 82.2% higher compared to their low point in Q2 2012
• The monthly Residential Property Price Index (RPPI) decreased by 0.8% nationally in the year to September 2020, with prices in Dublin falling by 1.8% and prices outside Dublin rising by 0.1%
• In September 2020, there were 3,193 transactions filed with the Revenue Commissioners by households, a fall of 22.2% compared to September 2019, but an increase of 35.4% compared to August 2020
• In the 12 months to September 2020, the lowest median price for a house was €107,000 in Leitrim, while the highest median price within the Dublin region was €535,000 in Dún Laoghaire-Rathdown

Go to release: Residential Property Price Index September 2020

The Central Statistics Office (CSO) has today (18 November 2020) published the Residential Property Price Index (RPPI) September 2020 and, for the first time, quarterly price indices for new and existing dwellings in Ireland. This represents an increase in the level of detail provided with the RPPI.

Commenting on the release, Viacheslav Voronovich, Statistician, said: ‘This is the first time that the CSO has published indicators on price trends for new and existing dwellings. The release shows that property prices for new dwellings were 1.7% higher in the third quarter of 2020 compared with the same quarter in 2019. This contrasts with a price fall of 1.6% for existing dwellings.

In terms of the volume of properties purchased by households in September 2020, existing dwellings accounted for 2,584 (80.9%) of the transactions filed with the Revenue Commissioners while the balance of 609 (19.1%) were new dwellings.

Overall, residential property prices decreased by 0.8% nationally in the year to September 2020. In Dublin, property prices saw a decline of 1.8%, while prices outside Dublin were 0.1% higher.

In the 12 months to September, the median price of a dwelling purchased by households was €257,290. Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price (€535,000), while South Dublin had the lowest (€349,000). The highest median prices outside of Dublin were in Wicklow (€335,000) and Kildare (€310,000), while the lowest price was €107,000 in Leitrim.’

Editor's Note:

The RPPI sub-indices for new and existing dwellings are computed on a quarterly basis, while the national and regional indices are computed monthly. 

A new dwelling is defined as a dwelling that has not been inhabited previously. The RPPI does not include self-builds where the land was purchased separately.

Please see the following information note for further details.

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