Residential Property Price Index February 2021

Volume and Value

In February, 3,205 household dwelling purchases at market prices were filed with Revenue. This represents a 7.4% increase compared to the 2,983 purchases in February 2020 and a 8.0% decrease compared with the 3,484 purchases in January 2021. The total value of transactions filed in February was €991 million.

New and Existing Dwellings

Existing dwellings accounted for 2,713 (84.6%) of the dwelling purchases filed in February, an increase of 7.7% compared to February 2020. The balance of 492 (15.4%) were new dwellings, an increase of 6.0% compared to February 2020 (See Figure 3.1).

Buyer Type

In the year to February, 38,025 household dwelling purchases were filed with Revenue. Of these, 12,672 (33.3%) were purchases by first time buyer owner-occupiers, while former owner-occupiers purchased 20,222 (53.2%). The balance of 5,131 (13.5%) were acquired by non-occupiers (see Figure 3.2).

Revenue data shows that there were 1,000 first-time buyer purchases in February 2021, an increase of 4.2% on the 960 recorded in February 2020. These purchases were made up of 235 new dwellings and 765 existing dwellings.

Median Price

Households paid a median price of €262,000 for a dwelling on the residential property market in the 12 months to February 2021.

The Dublin region had the highest median price (€385,000) in the year to February. Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price (€537,592), while South Dublin had the lowest (€354,999).

The highest median prices outside of Dublin were in Wicklow (€355,000) and Kildare (€325,000), while the lowest price was €110,000 in Leitrim (See Figure 3.3).

Mean Price

Households paid a mean price of €300,278 for a dwelling on the residential property market in the 12 months to February 2021.

The mean price in Dublin (€456,547) was the highest in any region or county. Dún Laoghaire-Rathdown had the highest mean price in the Dublin region at €605,312, while South Dublin had the lowest at €373,142.

Outside of Dublin, the Mid-East was the most expensive region, with a mean price of €318,059. Wicklow was the most expensive county, with a mean price of €393,585.

The Border region was the least expensive region in the year to February 2021, with a mean price of €150,052. Longford (in the Midland region) was the least expensive county, with a mean price of €126,020. (see figure 3.4).

 

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.

 

For further Information see tables on PxStat

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