Residential Property Price Index March 2019

Volume and Value

3,195 household dwelling purchases were filed with Revenue in March. This represents a 1.2% increase compared to the 3,157 purchases in March 2018 and an increase of 6.3% compared with the 3,007 purchases in February 2019. The total value of transactions filed in March was €900 million.

New and Existing Dwellings

Existing dwellings accounted for 2,623 (82.1%) of the dwellings purchased in March, an increase of 3.9% compared to March 2018. The balance of 572 (17.9%) were new dwellings, a decrease of 9.6% compared to March 2018 (See Figure 2.1).

Buyer Type

44,458 household dwelling purchases were filed with Revenue in the year to March. Of these, 13,631 (30.7%) were purchases by first-time buyer owner-occupiers, while former owner-occupiers purchased 23,157 (52.1%). The balance of 7,670 (17.3%) were acquired by non-occupiers (see Figure 2.2).

Revenue data shows that there were 964 first-time buyer purchases in March 2019, an increase of 6.8% on the 903 recorded in March 2018. These purchases were composed of 291 new dwellings and 673 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 March 2019.

The Dublin region had the highest median price (€368,000) in the year to March. Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price (€540,000), while Fingal had the lowest (€330,000).

The highest median prices outside Dublin were in Wicklow (€315,001) and Kildare (€294,999), while the lowest were €100,000 in Longford and Leitrim (See Figure 2.3).

Mean Price

Households paid a mean price of €292,115 for a dwelling on the residential property market in the 12 months to March 2019.

The mean price in Dublin (€445,051) was the highest in any region or county. Dún Laoghaire-Rathdown had the highest mean price in the Dublin region at €625,024, while South Dublin had the lowest at €362,825.

Outside of Dublin, the Mid-East was the most expensive region, with a mean price of €291,698. Wicklow was the most expensive county in the Mid-East region, with a mean price of €352,804 and the second most expensive county in Ireland, after Dublin.

The Border region was the least expensive region in the year to March 2019, with a mean price of €138,629. Longford (in the Midland region) was the least expensive county, with a mean price of €112,340 (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