Table 2.1: Household market transactions filed with Revenue | ||||
Month | Volume | Value (million) | Median Price | Mean Price |
December 2017 | 4,344 | €1,219.4 | €240,000 | €280,714 |
January 2018 | 3,583 | €981.4 | €234,000 | €273,898 |
February 2018 | 3,102 | €902.0 | €235,000 | €290,793 |
Volume and Value
In the month of February, 3,102 household market residential dwelling purchases were filed with the Revenue Commissioners. This represents a 6.6% increase compared to February 2017, when 2,910 purchases were filed, and a decrease of 13.4% compared to January 2018, when 3,583 purchases were filed. The total value of the market based on transactions filed in February was €902.0 million.
New and Existing Dwellings
Of the 3,102 household market dwelling purchases filed with the Revenue Commissioners in February, 555 (17.9%) were for new dwellings and 2,547 (82.1%) were for existing dwellings. Compared to February 2017, the volume of new dwelling purchases increased by 26.1% and the volume of existing dwelling purchases increased by 3.1% (See Figure 2.1).
X-axis label | New | Existing |
---|---|---|
Jan-10 | 372 | 610 |
Feb-10 | 449 | 824 |
Mar-10 | 602 | 1005 |
Apr-10 | 538 | 955 |
May-10 | 577 | 1146 |
Jun-10 | 537 | 1190 |
Jul-10 | 526 | 1362 |
Aug-10 | 535 | 1418 |
Sep-10 | 516 | 1382 |
Oct-10 | 419 | 1153 |
Nov-10 | 519 | 1219 |
Dec-10 | 411 | 1037 |
Jan-11 | 350 | 1026 |
Feb-11 | 358 | 876 |
Mar-11 | 351 | 987 |
Apr-11 | 254 | 854 |
May-11 | 322 | 991 |
Jun-11 | 335 | 1040 |
Jul-11 | 275 | 1200 |
Aug-11 | 239 | 1140 |
Sep-11 | 291 | 1298 |
Oct-11 | 225 | 1152 |
Nov-11 | 230 | 1361 |
Dec-11 | 234 | 1422 |
Jan-12 | 247 | 1163 |
Feb-12 | 210 | 1072 |
Mar-12 | 224 | 1077 |
Apr-12 | 159 | 1007 |
May-12 | 237 | 1305 |
Jun-12 | 227 | 1216 |
Jul-12 | 263 | 1626 |
Aug-12 | 227 | 1674 |
Sep-12 | 221 | 1465 |
Oct-12 | 260 | 1717 |
Nov-12 | 475 | 2631 |
Dec-12 | 269 | 1708 |
Jan-13 | 359 | 1988 |
Feb-13 | 180 | 1168 |
Mar-13 | 219 | 1170 |
Apr-13 | 195 | 1359 |
May-13 | 256 | 1532 |
Jun-13 | 201 | 1465 |
Jul-13 | 282 | 2090 |
Aug-13 | 261 | 1971 |
Sep-13 | 267 | 1961 |
Oct-13 | 275 | 2179 |
Nov-13 | 306 | 2246 |
Dec-13 | 405 | 2233 |
Jan-14 | 371 | 2385 |
Feb-14 | 255 | 1575 |
Mar-14 | 283 | 1928 |
Apr-14 | 311 | 1941 |
May-14 | 333 | 2159 |
Jun-14 | 330 | 2172 |
Jul-14 | 416 | 2884 |
Aug-14 | 313 | 2592 |
Sep-14 | 417 | 3045 |
Oct-14 | 371 | 3033 |
Nov-14 | 414 | 2719 |
Dec-14 | 538 | 3632 |
Jan-15 | 526 | 3671 |
Feb-15 | 346 | 2668 |
Mar-15 | 379 | 2785 |
Apr-15 | 367 | 2467 |
May-15 | 364 | 2493 |
Jun-15 | 391 | 2605 |
Jul-15 | 450 | 3300 |
Aug-15 | 364 | 2913 |
Sep-15 | 374 | 3208 |
Oct-15 | 406 | 3096 |
Nov-15 | 381 | 3042 |
Dec-15 | 483 | 3359 |
Jan-16 | 392 | 2745 |
Feb-16 | 341 | 2580 |
Mar-16 | 331 | 2519 |
Apr-16 | 422 | 2489 |
May-16 | 423 | 2667 |
Jun-16 | 471 | 2706 |
Jul-16 | 488 | 2966 |
Aug-16 | 474 | 3077 |
Sep-16 | 464 | 3180 |
Oct-16 | 466 | 3070 |
Nov-16 | 621 | 3351 |
Dec-16 | 624 | 3283 |
Jan-17 | 497 | 2940 |
Feb-17 | 440 | 2470 |
Mar-17 | 478 | 2824 |
Apr- 17 | 486 | 2302 |
May-17 | 639 | 2817 |
Jun-17 | 562 | 2879 |
Jul-17 | 624 | 3254 |
Aug-17 | 612 | 3399 |
Sep-17 | 638 | 3027 |
Oct-17 | 656 | 3250 |
Nov-17 | 731 | 3493 |
Dec-17 | 879 | 3465 |
Jan-17 | 683 | 2900 |
Feb-17 | 555 | 2547 |
Buyer Type
In the 12 months to February, there were 43,700 household market dwelling purchases filed with the Revenue Commissioners. Of these, 12,586 (28.8%) were purchases by first-time buyer owner-occupiers; 22,515 (51.5%) were purchases by former owner-occupiers; 8,599 (19.7%) were purchases by non-occupiers (see Figure 2.2).
In February 917 first-time buyer purchases were filed with Revenue. This is an increase of 18.3% compared to February 2017 and a decrease of 11.7% compared to January 2018. These purchases comprised 237 new dwellings and 680 existing dwellings.
Buyer Type | |
28.8%First-Time Buyer | 12586 |
51.5%Former Owner-Occupier | 22515 |
19.7%Non-Occupier | 8599 |
Median Price
In the 12 months to February, the median price paid by households for a dwelling on the residential property market was €230,000.
Dublin was the region with the highest median price (€350,018) in the year to February. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown had the highest median price (€525,000). Whereas, Fingal had the lowest median price (€314,999).
Outside Dublin, the highest median prices were in Wicklow (€308,500) and Kildare (€275,000).
The lowest median prices for a dwelling were in Longford (€90,000) and Leitrim (€90,650) (See Figure 2.3).
Mean Price
In the 12 months to February, the mean market price paid by households for a dwelling was €275,506.
In the year to February, the mean price paid by households was higher in Dublin than in any other region or county. The mean price paid for a dwelling in Dublin was €431,592. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown was the most expensive, with a mean price of €599,124 over the 12 month period. In contrast, South Dublin was the least expensive, with a mean price of €355,456
After Dublin, the next most expensive region was the Mid-East, where the mean price paid by households was €276,848. Within the Mid-East, Co. Wicklow was most expensive, with a mean price of €347,317, making it the second most expensive county after Co. Dublin.
The least expensive region for household purchases over the last 12 months was the Border region, with a mean price of €130,667. However, the least expensive county was Co. Longford in the Midland region, with a mean price of €101,417 (see Figure 2.4).
Note
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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