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Residential Property Price Index October 2022

The national Residential Property Price Index increased by 9.8% in the 12 months to October 2022

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

Key Findings

  • The national Residential Property Price Index (RPPI) increased by 9.8% in the 12 months to October 2022, with prices in Dublin rising by 8.3% and prices outside Dublin up by 11%.

  • In October 2022, 4,296 dwelling purchases by households at market prices were filed with the Revenue Commissioners, a decrease of 0.9% compared with the 4,335 purchases in October 2021.

  • The median price of a dwelling purchased in the 12 months to October 2022 was €300,000.

  • The lowest median price for a house in the 12 months to October 2022 was €148,000 in Longford, while the highest median price was €620,000 in Dún Laoghaire-Rathdown.

Statistician's Comment

Commenting on the release, Viacheslav Voronovich, Statistician in the Prices Division, said: “Residential property prices rose by 9.8% in the last 12 months, down from 10.7% in the year to September 2022. In Dublin, residential property prices saw an increase of 8.3%, while property prices outside Dublin were 11% higher than a year earlier.

In Dublin, house prices increased by 8.5% and apartment prices were up by 7.6%. The highest house price growth in Dublin was in South Dublin at 10.9%, while Dublin City saw a rise of 7.2%.

Outside Dublin, house prices were up by 11.3% and apartment prices rose by 7.5%. The region outside of Dublin that saw the largest rise in house prices was the West (Galway, Mayo, Roscommon) at 16.3%, while at the other end of the scale, the South-West (Cork, Kerry) saw a 9.2% rise.  

In October 2022, 4,296 dwelling purchases by households at market prices were filed with the Revenue Commissioners, a decrease of 0.9% compared with the 4,335 purchases in October 2021.

Households paid a median or mid-point price of €300,000 for a residential property in the 12 months to October 2022. The lowest median price paid for a dwelling was €148,000 in Longford, while the highest was €620,000 in Dún Laoghaire-Rathdown.

The most expensive Eircode area over the last 12 months was A94 'Blackrock', with a median price of €732,500, while F35 'Ballyhaunis' was the least expensive at €124,500."

Figure 1.1: Residential Property Price Index 12 month % change
Table 1.1 Residential Property Price Index October 2022
Figure 1.2: National and Regional annual percentage changes

Historical Trends

The national index has now reached the value of 168.4, which is 2.9% above its highest level at the peak of the property boom in April 2007. Dublin residential property prices are 5.7% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 1.8% higher than their May 2007 peak.

Property prices nationally have increased by 129.5% from their trough in early 2013. Dublin residential property prices have risen by 133.6% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 134.2% 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.