Residential Property Price Index March 2022

Volume and Value

In March, 3,918 dwelling purchases by households at market prices were filed with Revenue. This represents a 0.8% decrease compared to the 3,951 purchases in March 2021 and a 9.3% increase compared with the 3,584 purchases in February 2022. The total value of transactions filed in March was €1.3 billion.

New and Existing Dwellings

Existing dwellings accounted for 3,288 (83.9%) of the dwelling purchases filed in March, a decrease of 3.5% compared to March 2021. The balance of 630 (16.1%) were new dwellings, an increase of 16% compared to March 2021. See Figure 3.1.

Buyer Type

In the year to March, 46,798 dwelling purchases by households at market prices were filed with Revenue. Of these, 15,065 (32.2%) were purchased by first time buyer owner-occupiers, while former owner-occupiers purchased 25,012 (53.4%). The balance of 6,721 (14.4%) were acquired by non-occupiers. See Figure 3.2.

Revenue data shows that there were 1,290 first-time buyer purchases in March 2022, an increase of 9.3% on the 1,180 recorded in March 2021. These purchases were made up of 351 new dwellings and 939 existing dwellings.

Median Price

Households paid a median price of €285,000 for a dwelling on the residential property market in the 12 months to March 2022.

The Dublin region had the highest median price (€410,000) in the year to March. Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price (€601,000), while South Dublin had the lowest (€374,999).

The highest median prices outside of Dublin were in Wicklow (€390,000) and Kildare (€344,998), while the lowest price was €136,500 in Longford. See Figure 3.3.

Mean Price

Households paid a mean price of €333,315 for a dwelling on the residential property market in the 12 months to March 2022.

The mean price in Dublin (€512,995) was the highest in any region or county. Dún Laoghaire-Rathdown had the highest mean price in the Dublin region at €716,201, while South Dublin had the lowest at €407,171.

Outside of Dublin, the Mid-East was the most expensive region, with a mean price of €344,491. Wicklow was the most expensive county, with a mean price of €439,310.

The Border region was the least expensive region in the year to March 2022, with a mean price of €174,428. Longford (in the Midland region) was the least expensive county, with a mean price of €150,797. 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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