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Residential Property Price Index January 2018

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CSO statistical publication, 14 March 2018, 11am

On-line ISSN: 2009-5236

Residential property prices rise by 12.5% in the year to January

Table 1.1: Residential Property Price Index
MonthPrice Index (Jan 2005=100)Monthly % change Annual % change
November 2017100.30.811.2
December 2017100.90.612.2
January 2018101.80.912.5
The latest two month's RPPI results are provisional and subject to revision.
MonthNationalDublinRest of Ireland
Jan-05100100100
Feb-05100.8102.1100.1
Mar-05101.4102.9100.5
Apr-05102.1103.6101.2
May-05102.8104.4101.9
Jun-05103.7104.5103.3
Jul-05105.3105.7105.1
Aug-05107.1107.8106.7
Sep-05108.2109.7107.4
Oct-05110.6112.8109.3
Nov-05111.5114.3110
Dec-05112.6114.9111.4
Jan-06113.2115.4111.9
Feb-06113.5116.4111.8
Mar-06114.1117.1112.4
Apr-06115.8119.2113.9
May-06118.2122.3115.8
Jun-06120.3125.5117.4
Jul-06123129.5119.5
Aug-06125.8133.3121.6
Sep-06126.8133.5123.1
Oct-06127.6134.4123.8
Nov-06127.6133.9124.1
Dec-06128.6134.1125.5
Jan-07129.7134.3127.1
Feb-07130.3135127.7
Mar-07130.5133.7128.6
Apr-07131134129.2
May-07130.6132.7129.3
Jun-07130.3133128.7
Jul-07130.6133.7128.8
Aug-07130.4133128.8
Sep-07130.4133.3128.7
Oct-07130133.3128.1
Nov-07130132.2128.7
Dec-07129.2130.5128.4
Jan-08128.1127.5128.2
Feb-08127126.8126.9
Mar-08125.9126.1125.6
Apr-08124.8126.1124.1
May-08123.5126.2122.1
Jun-08122.3124.9120.9
Jul-08121.6123.4120.5
Aug-08120.3121.7119.5
Sep-08118.8117.5119.1
Oct-08116.2113.4117.2
Nov-08114.1110.2115.7
Dec-08111.9108113.5
Jan-09109105110.8
Feb-09106100.3108.5
Mar-09103.296.6106.3
Apr-09100.992.9104.6
May-0998.590.9102.1
Jun-0996.989.8100.2
Jul-0995.588.998.5
Aug-0994.38996.6
Sep-0994.288.696.8
Oct-0993.186.696.2
Nov-0992.88596.4
Dec-0991.583.295.5
Jan-1090.681.195.2
Feb-1089.279.294.1
Mar-1088.177.593.6
Apr-1087.677.392.8
May-1086.176.590.7
Jun-1085.175.589.9
Jul-1084.27588.8
Aug-108475.487.9
Sep-108375.286.2
Oct-1081.67484.6
Nov-1079.972.582.9
Dec-1078.771.281.8
Jan-117870.581.3
Feb-1176.56979.8
Mar-1174.767.178.1
Apr-1173.766.676.6
May-1172.465.575.2
Jun-1171.364.674.1
Jul-1169.863.672.2
Aug-116862.370
Sep-1166.660.668.9
Oct-1165.459.467.7
Nov-1164.358.166.9
Dec-1163.35766.1
Jan-1262.35665.1
Feb-1260.954.563.9
Mar-1261.254.964.1
Apr-1260.254.762.4
May-126054.762
Jun-1259.95561.5
Jul-1260.556.161.5
Aug-1260.656.861
Sep-1261.157.561.2
Oct-1261.35861.1
Nov-1261.158.460.3
Dec-1261.359.160
Jan-1360.258.658.3
Feb-1359.557.658.1
Mar-1358.757.256.8
Apr-135957.956.7
May-135958.356.2
Jun-1360.560.456.9
Jul-136262.657.4
Aug-1362.864.257.5
Sep-1363.865.358.3
Oct-1364.265.758.7
Nov-1364.566.558.4
Dec-1365.367.359.1
Jan-1465.467.658.9
Feb-1465.66859.1
Mar-1466.16958.9
Apr-1467.57159.5
May-1469.373.660.5
Jun-1471.376.661.2
Jul-1473.579.762.3
Aug-1474.981.563.3
Sep-1476.583.564.4
Oct-1477.38465.5
Nov-1477.683.866.3
Dec-147782.666.4
Jan-1577.38366.6
Feb-157782.666.5
Mar-1577.382.567
Apr-1577.982.668.1
May-1578.883.269.2
Jun-1580.184.370.5
Jul-1580.784.771.2
Aug-1581.785.672.2
Sep-158285.572.8
Oct-1582.986.673.5
Nov-1582.686.273.4
Dec-1582.585.873.5
Jan-1683.28773.8
Feb-1682.786.473.5
Mar-168386.673.8
Apr-1683.587.174.2
May-1683.786.874.7
Jun-1684.58776.1
Jul-1686.488.178.5
Aug-1687.689.479.5
Sep-1688.690.880.1
Oct-1689.19180.7
Nov-1690.292.181.9
Dec-1689.991.581.7
Jan-1790.59282.4
Feb-1790.792.282.7
Mar-1791.192.882.8
Apr-1791.492.184.1
May-1792.894.584.4
June-1794.196.385.1
July-1796.498.587.4
Aug-1797.999.988.8
Sept-1799.210190.2
Oct-1799.5101.590.4
Nov-17100.3101.891.6
Dec-17100.9102.292.2
Jan-18101.8103.193.1

In the year to January, residential property prices at national level increased by 12.5%. This compares with an increase of 12.2% in the year to December and an increase of 8.8% in the twelve months to January 2017.

In Dublin, residential property prices increased by 12.1% in the year to December. Dublin house prices increased 11.4%. Apartments in Dublin increased 15.0% in the same period. The highest house price growth was in Fingal, at 14.2%. In contrast, the lowest growth was in Dun Laoghaire-Rathdown, where house prices increased 9.0%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 13.0% higher in the year to January. House prices in the Rest of Ireland increased 13.5% over the period. The West region showed the greatest price growth, with house prices increasing 17.2%.  The South-East region showed the least price growth, with house prices increasing 9.9%. Apartment prices in the Rest of Ireland increased 9.9% in the same period. 

Overall Decline

Overall, the national index is 22.3% lower than its highest level in 2007. Dublin residential property prices are 23.6% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 28.0% lower than their May 2007 peak.

Recovery

From the trough in early 2013, prices nationally have increased by 73.4%. Dublin residential property prices have increased 89.2% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 65.7% higher than the trough, which was in May 2013.

Price Indexannual percentage change
National - all residential properties12.5
National - houses12.4
National - apartments13.6
Dublin - all residential properties12.1
Dublin - houses11.4
Dublin - apartments15
Dublin City - houses13.1
Dun Laoghaire-Rathdown - houses9
Fingal - houses14.2
South Dublin - houses11.1
National excluding Dublin - all residential properties13
National excluding Dublin - houses13.5
National excluding Dublin - apartments9.9
Border excluding Louth - houses14.3
Midland - houses12.7
West - houses17.2
Mid-East including Louth - houses11.7
Mid-West including South Tipperary - houses12.9
South-East excluding South Tipperary - houses9.9
South-West - houses13.2

Note that due to data smoothing, aggregate index annual percentage changes may be greater or less than their component sub-indices, see here for more information.

Show Table: Residential Property Price Index Breakdown(Base Jan 2005=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.

The StatBank Tables are available here

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