Residential Property Price Index May 2019

Volume and Value

3,598 household dwelling purchases were filed with Revenue in May. This represents a 1.6% increase compared to the 3,543 purchases in May 2018 and an increase of 8.8% compared with the 3,306 purchases in April 2019. The total value of transactions filed in April was €1.1 billion.

New and Existing Dwellings

Existing dwellings accounted for 2,924 (81.3%) of the dwellings purchased in May, an increase of 3.2% compared to May 2018. The balance of 674 (18.7%) were new dwellings, a decrease of 4.9% compared to May 2018 (See Figure 2.1).

Buyer Type

44,653 household dwelling purchases were filed with Revenue in the year to May. Of these, 13,770 (30.8%) were purchases by first-time buyer owner-occupiers, while former owner-occupiers purchased 23,348 (52.3%). The balance of 7,535 (16.9%) were acquired by non-occupiers (see Figure 2.2).

Revenue data shows that there were 1,177 first-time buyer purchases in May 2019, an increase of 7.8% on the 1092 recorded in May 2018. These purchases were composed of 352 new dwellings and 825 existing dwellings.

Median Price

Households paid a median price of €251,000 for a dwelling on the residential property market in the 12 months to May 2019.

The Dublin region had the highest median price (€366,000) in the year to May. Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price (€538,000), while Fingal had the lowest (€334,999).

The highest median prices outside Dublin were in Wicklow (€315,000) and Kildare (€295,000), while the lowest price was €100,000 in Leitrim (See Figure 2.3).

Mean Price

Households paid a mean price of €293,300 for a dwelling on the residential property market in the 12 months to May 2019.

The mean price in Dublin (€444,167) was the highest in any region or county. Dún Laoghaire-Rathdown had the highest mean price in the Dublin region at €626,615, while South Dublin had the lowest at €365,833.

Outside of Dublin, the Mid-East was the most expensive region, with a mean price of €293,185. Wicklow was the most expensive county in the Mid-East region, with a mean price of €352,080 and the second most expensive county in Ireland, after Dublin.

The Border region was the least expensive region in the year to April 2019, with a mean price of €140,040. Longford (in the Midland region) was the least expensive county, with a mean price of €116,173. (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