|Table 2.1: Household market transactions filed with Revenue|
|Month||Volume||Value (million)||Median Price||Mean Price|
Volume and Value
3,947 household dwelling purchases were filed with Revenue in August. This represents a 0.1% increase compared to the 3,944 purchases in August 2018 and a decrease of 8.5% compared with the 4,316 purchases in July 2019. The total value of transactions filed in August was €1.2 billion.
New and Existing Dwellings
Existing dwellings accounted for 3,277 (83.0%) of the dwellings purchased in August, an increase of 2.2% compared to August 2018. The balance of 670 (17.0%) were new dwellings, a decrease of 9.1% compared to August 2018 (See Figure 2.1).
44,910 household dwelling purchases were filed with Revenue in the year to August. Of these, 14,022 (31.2%) were purchases by first-time buyer owner-occupiers, while former owner-occupiers purchased 23,684 (52.7%). The balance of 7,204 (16.0%) were acquired by non-occupiers (see Figure 2.2).
Revenue data shows that there were 1,202 first-time buyer purchases in August 2019, an increase of 3.2% on the 1,165 recorded in August 2018. These purchases were composed of 329 new dwellings and 873 existing dwellings.
Households paid a median price of €255,000 for a dwelling on the residential property market in the 12 months to August 2019.
The Dublin region had the highest median price (€367,500) in the year to August. Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price (€533,000), while Fingal had the lowest (€340,000).
The highest median prices outside Dublin were in Wicklow (€323,500) and Kildare (€302,000), while the lowest price was €103,543 in Leitrim (See Figure 2.3).
Households paid a mean price of €294,329 for a dwelling on the residential property market in the 12 months to August 2019.
The mean price in Dublin (€439,692) was the highest in any region or county. Dún Laoghaire-Rathdown had the highest mean price in the Dublin region at €607,861 while South Dublin had the lowest at €366,161.
Outside of Dublin, the Mid-East was the most expensive region, with a mean price of €298,715. Wicklow was the most expensive county in the Mid-East region, with a mean price of €354,742 and the second most expensive county in Ireland, after Dublin.
The Border region was the least expensive region in the year to August 2019, with a mean price of €142,881. Longford (in the Midland region) was the least expensive county, with a mean price of €122,435. (see figure 2.4).
Neither median nor mean 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
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