Residential Property Price Index January 2019

Volume and Value

3,599 residential dwelling purchases were filed with Revenue in January by households. This represents a 0.4% increase compared to the 3,583 purchases in January 2018 and a decrease of 16.4% compared with the 4,307 purchases in December 2018. The total value of transactions filed in December was €1 billion.

New and Existing Dwellings

Existing dwellings accounted for 2,961 (82.3%) of the dwellings purchased in January, a rise of 2.1% compared to January 2018. The balance of 638 (17.7%) were new dwellings, a decrease of 6.6% compared to January 2018 (See Figure 2.1).

Buyer Type

44,515 market dwellings purchases were filed with Revenue in the year to January. Of these, 13,580 (30.5%) were purchases by first-time buyer owner-occupiers, while former owner-occupiers purchased 23,099 (51.9%). The balance of 7,836 (17.6%) were acquired by non-occupiers (see Figure 2.2).

Revenue data shows that there were 1,123 first-time buyer purchases in January 2019, an increase of 8.2% on the 1,038 recorded in January 2018. These purchases were composed of 320 new dwellings and 803 existing dwellings.

Median Price

Households paid a median price of €250,000 for a dwelling on the residential property market in the 12 months to January 2019.

The Dublin region had the highest median price (€368,000) in the year to January. Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price (€537,367), while Fingal had the lowest (€329,999).

The highest median prices outside Dublin were in Wicklow (€317,500) and Kildare (€294,999), while the lowest were €98,373 in Longford and €100,000 in Leitrim (See Figure 2.3).

Mean Price

Households paid a mean price of €291,968 for a dwelling on the residential property market in the 12 months to January 2019.

The mean price in Dublin (€447,028) was the highest in any region or county. Dún Laoghaire-Rathdown had the highest mean price in the Dublin region at €621,169, while South Dublin had the lowest at €362,507.

Outside of Dublin, the Mid-East was the most expensive region, with a mean price of €292,172. Wicklow was the most expensive county in the Mid-East region, with a mean price of €356,512 and the second most expensive county in Ireland, after Dublin.

The Border region was the least expensive region in the year to January 2019, with a mean price of €136,390. Longford (in the Midland region) was the least expensive county, with a mean price of €107,950 (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.

The StatBank Tables are available here