|Table 2.1: Household market transactions filed with Revenue|
|Month||Volume||Value (million)||Median Price||Mean Price|
Volume and Value
4,307 residential dwelling purchases were filed with Revenue in December by households. This represents a 0.9% decrease compared to the 4,344 purchases in December 2017 and a rise of 0.5% compared with the 4,285 purchases in November 2018. The total value of transactions filed in December was €1.3 billion.
New and Existing Dwellings
Existing dwellings accounted for 3,438 or 79.8% of the dwellings purchased in December, a decrease of 0.8% compared to December 2017. The balance of 869 (or 20.2%) were new dwellings, a decrease of 1.1% compared to December 2017 (See Figure 2.1).
44,499 market dwellings purchases were filed with Revenue in the year to December. Of these, 13,495 (30.3%) were purchases by first-time buyer owner-occupiers, while former owner-occupiers purchased 23,064 (51.8%). The balance of 7,940 (17.8%) were acquired by non-occupiers (see Figure 2.2).
Revenue data shows that there were 1,382 first-time buyer purchases in December 2018, an increase of 9.8% on the 1,259 recorded in December 2017. These purchases were composed of 445 new dwellings and 937 existing dwellings.
Households paid a median price of €248,000 for a dwelling on the residential property market in the 12 months to December 2018.
The Dublin region had the highest median price (€368,000) in the year to December. Within the Dublin region Dún Laoghaire-Rathdown had the highest median price (€535,000), while Fingal had the lowest (€327,000).
The highest median prices outside Dublin were in Wicklow (€315,000) and Kildare (€294,999), while the lowest were €94,500 in Longford and €100,000 in Leitrim (See Figure 2.3).
Households paid a mean price of €290,927 for a dwelling on the residential property market in the 12 months to December 2018.
The mean price in Dublin (€446,215) was the highest in any region or county. Dún Laoghaire-Rathdown had the highest mean price in the Dublin region at €620,586, while South Dublin had the lowest at €360,723.
Outside of Dublin the Mid-East was the most expensive region with a mean price of €292,182. Wicklow was the most expensive county in the Mid-East region, with a mean price of €357,377, and the second most expensive county in Ireland, after Dublin.
The Border region was the least expensive region in the year to December 2018 with a mean price of €135,439. Longford (in the Midland region) was the least expensive county, with a mean price of €106,749 (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.
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