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Residential Property Price Index March 2024

The national Residential Property Price Index increased by 7.3% in the 12 months to March 2024

Online ISSN: 2009-5236
CSO statistical publication, , 11am

Key Findings

  • The national Residential Property Price Index (RPPI) increased by 7.3% in the 12 months to March 2024, with prices in Dublin rising by 7.2% and prices outside Dublin up by 7.4%.

  • In March 2024, 3,314 dwelling purchases by households at market prices were filed with the Revenue Commissioners, down by 19.8% when compared with the 4,132 purchases in March 2023.

  • The median price of a dwelling purchased in the 12 months to March 2024 was €333,000.

  • The lowest median price for a dwelling in the 12 months to March 2024 was €168,000 in Leitrim, while the highest median price was €620,000 in Dún Laoghaire-Rathdown.

Statistician's Comment

The Central Statistics Office (CSO) has today (15 May 2024) released Residential Property Price Index (RPPI) March 2024.

Commenting on the release, Niall Corkery, Statistician in the Prices Division, said: “Residential property prices rose by 7.3% in the 12 months to March 2024, up from 6.2% in the year to February 2024. In Dublin, residential property prices saw an increase of 7.2%, while property prices outside Dublin were 7.4% higher in March 2024 when compared with a year earlier.

Property Prices by Type and Region

In the 12 months to March 2024, house prices in Dublin rose by 7.7% while apartment prices rose by 5.3%. The highest house price growth in Dublin was in Dublin City at 9.2% while Dún Laoghaire-Rathdown saw a rise of 5.1%.

Outside Dublin, house prices were up by 7.2% and apartment prices rose by 10%. The region outside of Dublin that saw the largest rise in house prices was the Mid-West (Clare, Limerick, and Tipperary) at 12.3%, while at the other end of the scale, the Border (Cavan, Donegal, Leitrim, Monaghan, and Sligo) saw a 2.9% rise.

In March 2024, 3,314 dwelling purchases by households at market prices were filed with the Revenue Commissioners, a decrease of 19.8% when compared with the 4,132 purchases in March 2023.

Households paid a median or mid-point price of €333,000 for a residential property in the 12 months to March 2024. The lowest median price paid for a dwelling was €168,000 in Leitrim, while the highest was €620,000 in Dún Laoghaire-Rathdown.

The most expensive Eircode area over the 12 months to March 2024 was A94 'Blackrock' with a median price of €720,000, while F45 'Castlerea' had the least expensive price of €135,000.” table of median prices by Eircode area is available, as is our Interactive App where you can explore the median property price by Eircode area.

Table 1.1: Residential Property Price IndexBase year 2015=100
YearMonthResidential Property Price IndexPercentage Change
Over one monthOver 12 months
2023March166.3-0.64.0
 December175.71.34.1
2024January1176.90.75.4
 February1177.80.56.2
 March1178.40.47.3
1The latest three month's RPPI results are provisional and subject to revision.
Figure 1.1: Residential Property Price Index 12 month % change
Figure 1.2: National and Regional annual percentage changes - March 2024

Historical Trends

The national index has now reached the value of 178.4, which is 9.1% above its highest level at the peak of the property boom in April 2007. Dublin residential property prices are 1.9% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 9.5% higher than their May 2007 peak.

Property prices nationally have increased by 143.2% from their trough in early 2013. Dublin residential property prices have risen by 142.9% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 152% higher than at the trough, which was in May 2013. See Figure 1.3.

Figure 1.3: Residential Property Price Index
Note

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