The national Residential Property Price Index (RPPI) increased by 0.9% in the 12 months to August 2023, with prices in Dublin decreasing by 1.9% and prices outside Dublin up by 3.1%.
In August 2023, 4,640 dwelling purchases by households at market prices were filed with the Revenue Commissioners, up by 8.0% when compared with 4,295 purchases in August 2022.
The median price of a dwelling purchased in the 12 months to August 2023 was €320,000.
The lowest median price for a house in the 12 months to August 2023 was €159,750 in Longford, while the highest median price was €634,919 in Dún Laoghaire-Rathdown.
The Central Statistics Office (CSO) has today (24 October 2023) released Residential Property Price Index (RPPI) August 2023.
Commenting on the release, Niall Corkery, Statistician in the Prices Division, said: “Residential property prices rose by 0.9% in the 12 months to August 2023, down from 1.6% in the year to July 2023. In Dublin, residential property prices saw a decrease of 1.9%, while property prices outside Dublin were 3.1% higher in August 2023 than a year earlier.
In the 12 months to August 2023, house prices in Dublin fell by 2.3% while apartment prices were down by 0.2%. The highest house price growth in Dublin was in Fingal at 0.2%, while Dún Laoghaire-Rathdown saw a decline of 3.9%.
Outside Dublin, house prices were up by 3.1% and apartment prices grew by 1.8%. The region outside of Dublin that saw the largest rise in house prices was the South-West (Cork, Kerry) at 4.4%, while at the other end of the scale, the Midlands region (Laois, Longford, Offaly, Westmeath) and the West region (Galway, Mayo, Roscommon) both saw a 2.1% rise.
In August 2023, 4,640 dwelling purchases by households at market prices were filed with the Revenue Commissioners, an increase of 8.0% compared with the 4,295 purchases in August 2022.
Households paid a median or mid-point price of €320,000 for a residential property in the 12 months to August 2023. The lowest median price paid for a dwelling was €159,750 in Longford, while the highest was €634,919 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to August 2023 was A94 'Blackrock' with a median price of €735,000, while F45 'Castlerea' had the least expensive price of €135,000."
The national index has now reached the value of 168.2, which is 2.8% above its highest level at the peak of the property boom in April 2007. Dublin residential property prices are 8.3% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 3.8% higher than their May 2007 peak.
Property prices nationally have increased by 129.2% from their trough in early 2013. Dublin residential property prices have risen by 127.1% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 138.9% higher than at the trough, which was in May 2013. See Figure 1.3.
RPPI is based on Revenue stamp duty returns, which have a 44 day submission deadline. To account for this fact and also for late filings, the RPPI for the latest three months is provisional and subject to revision. See Background Notes