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 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
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Statistician's Comment
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.
Property Prices by Type and Region
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."