Charting some of the changes in Ireland’s economic and social history to mark 50 years of Ireland in the EU.
From an average residential property price of IR£7,095 (€9,009 equivalent) in 1973, Ireland's residential properties have largely increased in value over the course of five decades and more rapidly in recent years. Economic growth, urbanisation, and the prosperous years of the Celtic Tiger played pivotal roles in shaping the housing market in this period.
A combination of factors propelled the residential property market forward over that time with the mean price for residential properties reaching €366,653 in the 12 months up to June 2023.
The economic downturn of 2008 ended the upward trajectory of prices. Average residential property prices went from a height of €349,838 in 2007 to a low of €205,476 in 2012. Since that point, prices have been climbing slowly and have since reached, and in some parts of the country, exceeded the peak prices achieved in the Celtic Tiger years.
In June 2023, the national index reached the value of 166.9, which was 2.1% above its highest level at the peak of the property boom in April 2007. Dublin residential property prices in June 2023 were 9.2% lower than their February 2007 peak, while residential property prices in the Rest of Ireland were 3.2% higher than their May 2007 peak.
As of June 2023, property prices nationally increased by 127.5% from their trough in early 2013. Dublin residential property prices have risen by 124.9% from their February 2012 low, whilst residential property prices in the Rest of Ireland were 137.6% higher than at the trough, which was in May 2013.
Year | |
---|---|
1970s | 14162 |
1980s | 45223 |
1990s | 88664 |
2000s | 267589 |
2010s | 244917 |
Figures for residential property prices 1970 to 2009 from Data.Gov.ie. Full data sets can be found here and here. 2010 on are supplied by the CSO.
Please note that 1970 – 2009 data is based on mortgage data whereas the 2010 – 2019 CSO data is based on Stamp Duty returns from Revenue. Figures for 1970 to 1977 are new prices only while all others are for new and second-hand properties in Euro or Euro equivalent.
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