Residential Property Price Index May 2022

Volume and Value

In May, 3,731 dwelling purchases by households at market prices were filed with Revenue. This represents a 16.3% increase compared to the 3,207 purchases in May 2021 and an 8.3% increase compared with the 3,446 purchases in April 2022. The total value of transactions filed in May was €1.3 billion.

New and Existing Dwellings

Existing dwellings accounted for 3,079 (82.5%) of the dwelling purchases filed in May, an increase of 13.7% compared to May 2021. The balance of 652 (17.5%) were new dwellings, an increase of 30.4% compared to May 2021. See Figure 3.1.

Buyer Type

In the year to May, 47,630 dwelling purchases by households at market prices were filed with Revenue. Of these, 15,524 (32.6%) were purchased by first time buyer owner-occupiers, while former owner-occupiers purchased 25,437 (53.4%). The balance of 6,669 (14%) were acquired by non-occupiers. See Figure 3.2.

Revenue data shows that there were 1,213 first-time buyer purchases in May 2022, an increase of 31.6% on the 922 recorded in May 2021. These purchases were made up of 345 new dwellings and 868 existing dwellings.

Median Price

Households paid a median price of €290,000 for a dwelling on the residential property market in the 12 months to May 2022.

The Dublin region had the highest median price (€413,000) in the year to May. Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price (€601,000), while South Dublin had the lowest (€375,000).

The highest median prices outside of Dublin were in Wicklow (€397,000) and Kildare (€347,025), while the lowest price was €138,000 in Longford. See Figure 3.3.

Mean Price

Households paid a mean price of €337,288 for a dwelling on the residential property market in the 12 months to May 2022.

The mean price in Dublin (€513,468) was the highest in any region or county. Dún Laoghaire-Rathdown had the highest mean price in the Dublin region at €712,761, while South Dublin had the lowest at €408,370.

Outside of Dublin, the Mid-East was the most expensive region, with a mean price of €348,794. Wicklow was the most expensive county, with a mean price of €448,663.

The Border region was the least expensive region in the year to May 2022, with a mean price of €177,773. Longford (in the Midland region) was the least expensive county, with a mean price of €152,720. 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