Residential Property Price Index March 2020

Volume and Value

In March, 3,598 household dwelling purchases were filed with Revenue. This represents a 12.6% increase compared to the 3,195 purchases in March 2019, and a 20.6% increase compared with the 2,983 purchases in February 2020. The total value of transactions filed in March was €1,041 million.

New and Existing Dwellings

Existing dwellings accounted for 2,940 (81.7%) of the dwelling purchases filed in March, an increase of 12.1% compared to March 2019. The balance of 658 (18.3%) were new dwellings, an increase of 15.0% compared to March 2019 (See Figure 2.1).

Buyer Type

In the year to March, 45,743 household dwelling purchases were filed with Revenue. Of these, 14,755 (32.3%) were purchases by first time buyer owner-occupiers, while former owner-occupiers purchased 24,171 (52.8%). The balance of 6,817 (14.9%) were acquired by non-occupiers (see Figure 2.2).

Revenue data shows that there were 1,210 first-time buyer purchases in March 2020, an increase of 25.5% on the 964 recorded in March 2019. These purchases were made up of 346 new dwellings and 864 existing dwellings.

Median Price

Households paid a median price of €260,000 for a dwelling on the residential property market in the 12 months to March 2020.

The Dublin region had the highest median price (€370,000) in the year to March. Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price (€525,000), while South Dublin had the lowest (€346,500).

The highest median prices outside Dublin were in Wicklow (€330,000) and Kildare (€310,000), while the lowest price was €104,000 in Leitrim (See Figure 2.3).

Mean Price

Households paid a mean price of €296,789 for a dwelling on the residential property market in the 12 months to March 2020.

The mean price in Dublin (€438,693) was the highest in any region or county. Dún Laoghaire-Rathdown had the highest mean price in the Dublin region at €598,232, while South Dublin had the lowest at €363,240.

Outside of Dublin, the Mid-East was the most expensive region, with a mean price of €305,541. Wicklow was the most expensive county in the Mid-East region, with a mean price of €365,625.

The Border region was the least expensive region in the year to March 2020, with a mean price of €145,376. Leitrim (in the Border region) was the least expensive county, with a mean price of €116,601. (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

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