The national Residential Property Price Index (RPPI) increased by 3.9% in the 12 months to March 2023, with prices in Dublin rising by 1.7% and prices outside Dublin up by 5.7%.
In March 2023, 4,132 dwelling purchases by households at market prices were filed with the Revenue Commissioners, up by 5.4% compared with the 3,921 purchases in March 2022.
The median price of a dwelling purchased in the 12 months to March 2023 was €310,000.
The lowest median price for a house in the 12 months to March 2023 was €154,000 in Longford, while the highest median price was €635,000 in Dún Laoghaire-Rathdown.
The Central Statistics Office (CSO) has today (17 May 2023) released Residential Property Price Index (RPPI) March 2023.
Commenting on the release, Viacheslav Voronovich, Statistician in the Prices Division, said: “Residential property prices rose by 3.9% in the 12 months to March 2023, down from 5.1% in the year to February 2023, and from the high values of 15.1% in the 12 months to February and March 2022. In Dublin, residential property prices saw an increase of 1.7%, while property prices outside Dublin were 5.7% higher than a year earlier.
In Dublin, house prices increased by 1.6% and apartment prices were up by 2.1%. The highest house price growth in Dublin was in South Dublin at 6.9%, while Dublin City saw a decline of 1.2%.
Outside Dublin, house prices were up by 5.9% and apartment prices rose by 2.6%. The region outside of Dublin that saw the largest rise in house prices was the Border (Cavan, Donegal, Leitrim, Monaghan, Sligo) at 8.4%, while at the other end of the scale, the Mid-West (Clare, Limerick, Tipperary) saw a 2.8% rise.
In March 2023, 4,132 dwelling purchases by households at market prices were filed with the Revenue Commissioners, an increase of 5.4% compared with the 3,921 purchases in March 2022.
Households paid a median or mid-point price of €310,000 for a residential property in the 12 months to March 2023. The lowest median price paid for a dwelling was €154,000 in Longford, while the highest was €635,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to March 2023 was A94 'Blackrock' with a median price of €750,000, while F35 'Ballyhaunis' had the least expensive price of €126,000."
The national index has now reached the value of 166.2, which is 1.6% above its highest level at the peak of the property boom in April 2007. Dublin residential property prices are 8.7% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 2.1% higher than their May 2007 peak.
Property prices nationally have increased by 126.6% from their trough in early 2013. Dublin residential property prices have risen by 126.2% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 134.9% higher than at the trough, which was in May 2013. See Figure 1.3.
RPPI is based on Revenue stamp duty returns, which have a 44 day submission deadline. To account for this fact and also for late filings, the RPPI for the latest three months is provisional and subject to revision. See Background Notes