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Residential Property Price Index February 2020

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The Central Statistics Office has today released the Residential Property Price Index (RPPI) with an updated base of 2015 = 100 along with the results for February 2020.

For further information see the Information Note on the Rebase of the RPPI to 2015 = 100

CSO statistical publication, , 11am

On-line ISSN: 2009-5236

Residential property prices rise by 1.1% in the year to February

Table 1.1: Residential Property Price Index
MonthPrice Index (2015=100)Monthly % change Annual % change
December 2019134.2-1.10.3
January 2020134.50.21.1
February 2020134.3-0.11.1
The latest two month's RPPI results are provisional and subject to revision.
MonthNationalDublinRest of Ireland
Jan-10113.296.1135.3
Feb-10111.493.9133.7
Mar-1011091.8132.9
Apr-10109.491.6131.8
May-10107.590.7128.8
Jun-10106.389.5127.8
Jul-10105.288.8126.2
Aug-10104.989.3125
Sep-10103.689.1122.4
Oct-10101.987.7120.2
Nov-1099.885.9117.7
Dec-1098.384.4116.3
Jan-1197.583.5115.5
Feb-1195.681.8113.4
Mar-1193.379.5110.9
Apr-119278.9108.9
May-1190.477.6106.9
Jun-1189.176.5105.3
Jul-1187.275.4102.5
Aug-118573.999.4
Sep-1183.271.897.8
Oct-1181.770.496.3
Nov-1180.368.995.1
Dec-1179.167.693.9
Jan-1277.866.492.5
Feb-127664.690.8
Mar-1276.465.191.1
Apr-1275.264.888.7
May-127564.888.1
Jun-1274.865.187.3
Jul-1275.666.587.4
Aug-1275.767.486.6
Sep-1276.368.187
Oct-1276.668.886.8
Nov-1276.369.285.6
Dec-1276.67085.3
Jan-1375.269.482.9
Feb-1374.468.282.5
Mar-1373.467.880.7
Apr-1373.768.680.5
May-1373.769.179.8
Jun-1375.671.680.9
Jul-1377.474.281.6
Aug-1378.57681.8
Sep-1379.777.482.9
Oct-1380.277.983.4
Nov-1380.678.883
Dec-1381.579.884
Jan-1481.680.183.7
Feb-148280.584
Mar-1482.581.883.6
Apr-1484.384.284.6
May-1486.587.286
Jun-148990.887
Jul-1491.794.588.5
Aug-1493.696.690
Sep-1495.69991.5
Oct-1496.699.593.1
Nov-1496.999.394.2
Dec-1496.297.994.3
Jan-1596.598.394.6
Feb-1596.297.994.5
Mar-1596.597.895.2
Apr-1597.397.996.7
May-1598.498.598.4
Jun-1510099.9100.1
Jul-15100.8100.4101.2
Aug-15102101.4102.6
Sep-15102.4101.4103.4
Oct-15103.5102.6104.5
Nov-15103.2102.2104.3
Dec-15103101.6104.4
Jan-16104103.1104.9
Feb-16103.4102.3104.4
Mar-16103.7102.6104.8
Apr-16104.3103.2105.5
May-16104.5102.9106.2
Jun-16105.6103.1108.2
Jul-16107.9104.4111.5
Aug-16109.4106112.9
Sep-16110.7107.6113.9
Oct-16111.2107.9114.7
Nov-16112.7109.1116.4
Dec-16112.2108.4116.2
Jan-17113109117.1
Feb-17113.3109.3117.5
Mar-17113.8110117.7
Apr-17114.2109.2119.5
May-17115.9112120
June-17117.5114.1120.9
July-17120.4116.7124.3
Aug-17122.2118.4126.2
Sept-17123.9119.7128.1
Oct-17124.3120.3128.4
Nov-17125.3120.6130.1
Dec-17125.9121.1130.8
Jan-18126.5121.8131.3
Feb-18127.4122.9132
Mar-18128.2122.8133.8
Apr-18129.5123.3136
May-18130.3124.2136.7
June-18131.6124.4139.3
July-18132.4125.3140
Aug-18133.1126.3140.4
Sep-18134.4127.3141.9
Oct-18134.7127.7142.1
Nov-18134.2126.8142.1
Dec-18133.8125.8142.4
Jan-19133.1125.1141.6
Feb-19132.9124.7141.6
Mar-19133123.9142.9
Apr-19133.3123.9143.4
May-19133.6124.2143.9
June-19134.2124.5144.8
July-19135.3125.3146.2
Aug-19135.7125.8146.5
Sep-19135.9125.9146.7
Oct-19136125.9147
Nov-19135.7125.6146.8
Dec-19134.2123.6145.9
Jan-20134.5124.6145.4
Feb-20134.3124.7144.9

Residential property prices increased by 1.1% nationally in the year to February. This compares with an increase of 1.1% in the year to January and an increase of 4.3% in the twelve months to February 2019.

In Dublin, residential property prices decreased by 0.1% in the year to February - house prices saw no change and apartments increased by 0.8%. The highest house price growth in Dublin was in Fingal at 3.4%, while Dun Laoghaire-Rathdown saw a decline of 2.9%.

Residential property prices in Ireland excluding Dublin were 2.4% higher in the year to February, with house prices up by 2.5% and apartments by 0.5%. The region outside of Dublin that saw the largest rise in house prices was the Border at 7.6%, - at the other end of the scale, the South-East saw a 1.2% decline.

Overall Decline

Overall, the national index is 17.9% lower than its highest level in 2007. Dublin residential property prices are 22.1% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 21.1% lower than their May 2007 peak.

Recovery

Property prices nationally have increased by 83.1% from their trough in early 2013. Dublin residential property prices have risen 93.0% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 81.5% higher than at the trough, which was in May 2013.

Price Indexannual percentage change
National - all residential properties1.1
National - houses1.4
National - apartments0.7
Dublin - all residential properties-0.1
Dublin - houses0
Dublin - apartments0.8
Dublin City - houses-2
Dun Laoghaire-Rathdown - houses-2.9
Fingal - houses3.4
South Dublin - houses-0.9
National excluding Dublin - all residential properties2.4
National excluding Dublin - houses2.5
National excluding Dublin - apartments0.5
Border - houses7.6
Midland - houses3.3
West - houses6.3
Mid-East - houses0.2
Mid-West - houses1.3
South-East - houses-1.2
South-West - houses3.1
Show Table: Residential Property Price Index Breakdown (Base 2015=100)

Note

Because the RPPI is based on Revenue stamp duty returns, which have a 44 day submission deadline, only a fraction of the two most recent months' residential property transactions are available for index compilation the following month. This means that the RPPI for the latest two months is provisional and subject to revision. See Background Notes.

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The StatBank Tables are available here