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Residential Property Price Index September 2016

CSO statistical publication, , 11am

On-line ISSN: 2009-5236
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Residential Property Prices rise by 7.3% in the year to September

 

MonthPrice Index (Jan 2005=100)Monthly % change Annual % change
July 201685.42.46.6
Aug 201686.61.46.8
Sept 201687.71.37.3
MonthNationalDublinRest of Ireland
Jan-05100100100
Feb-05100.8102.1100.1
Mar-05101.4102.9100.5
Apr-05102.1103.6101.2
May-05102.8104.4101.9
Jun-05103.7104.5103.3
Jul-05105.3105.7105.1
Aug-05107.1107.8106.7
Sep-05108.2109.7107.4
Oct-05110.6112.8109.3
Nov-05111.5114.3110
Dec-05112.6114.9111.4
Jan-06113.2115.4111.9
Feb-06113.5116.4111.8
Mar-06114.1117.1112.4
Apr-06115.8119.2113.9
May-06118.2122.3115.8
Jun-06120.3125.5117.4
Jul-06123129.5119.5
Aug-06125.8133.3121.6
Sep-06126.8133.5123.1
Oct-06127.6134.4123.8
Nov-06127.6133.9124.1
Dec-06128.6134.1125.5
Jan-07129.7134.3127.1
Feb-07130.3135127.7
Mar-07130.5133.7128.6
Apr-07131134129.2
May-07130.6132.7129.3
Jun-07130.3133128.7
Jul-07130.6133.7128.8
Aug-07130.4133128.8
Sep-07130.4133.3128.7
Oct-07130133.3128.1
Nov-07130132.2128.7
Dec-07129.2130.5128.4
Jan-08128.1127.5128.2
Feb-08127126.8126.9
Mar-08125.9126.1125.6
Apr-08124.8126.1124.1
May-08123.5126.2122.1
Jun-08122.3124.9120.9
Jul-08121.6123.4120.5
Aug-08120.3121.7119.5
Sep-08118.8117.5119.1
Oct-08116.2113.4117.2
Nov-08114.1110.2115.7
Dec-08111.9108113.5
Jan-09109105110.8
Feb-09106100.3108.5
Mar-09103.296.6106.3
Apr-09100.992.9104.6
May-0998.590.9102.1
Jun-0996.989.8100.2
Jul-0995.588.998.5
Aug-0994.38996.6
Sep-0994.288.696.8
Oct-0993.186.696.2
Nov-0992.88596.4
Dec-0991.583.295.5
Jan-1090.681.195.2
Feb-108979.193.7
Mar-1087.57792.8
Apr-108776.392.5
May-1085.475.890.1
Jun-108575.190
Jul-1084.874.790
Aug-1084.375.188.8
Sep-1083.375.486.6
Oct-1081.774.384.7
Nov-108072.883
Dec-1078.671.281.8
Jan-1178.270.181.9
Feb-1176.868.880.5
Mar-1174.867.278.2
Apr-1173.866.876.8
May-1172.765.875.6
Jun-1171.565.573.7
Jul-1170.764.872.7
Aug-1169.463.671.5
Sep-1167.961.870.4
Oct-116760.769.6
Nov-1165.659.368.4
Dec-1164.158.166.5
Jan-1262.656.964.8
Feb-1261.255.363.5
Mar-1261.655.663.9
Apr-1260.555.262.2
May-1260.555.262.2
Jun-1260.555.561.9
Jul-126156.861.7
Aug-1260.957.461
Sep-1261.45861.2
Oct-1261.458.560.9
Nov-1261.358.760.4
Dec-1261.759.460.4
Jan-1360.858.859.3
Feb-1360.25859
Mar-1359.758.257.6
Apr-1359.858.956.9
May-1359.859.556.2
Jun-1361.561.857.1
Jul-1363.364.357.7
Aug-1364.465.958
Sep-1365.56759.1
Oct-1365.867.459.2
Nov-1366.26859
Dec-1367.26959.9
Jan-1466.96959.5
Feb-1466.86959.3
Mar-1467.369.959.2
Apr-1468.771.760.1
May-1470.573.861.1
Jun-147377.261.9
Jul-1475.580.563
Aug-1476.981.764.4
Sep-1478.483.465.6
Oct-1479.283.867
Nov-1479.383.667.5
Dec-1478.782.667.7
Jan-1578.482.867.8
Feb-1577.882.667.2
Mar-1577.682.667.3
Apr-1577.782.567.8
May-1578.482.869
Jun-1579.583.870
Jul-1580.184.170.9
Aug-1581.18571.9
Sep-1581.785.272.8
Oct-1582.786.273.8
Nov-1582.686.473.5
Dec-1582.385.873.6
Jan-1682.886.673.7
Feb-168285.673.4
Mar-1681.985.573.5
Apr-1682.285.873.8
May-1682.685.674.8
Jun-1683.48676.1
Jul-1685.487.578.6
Aug-1686.688.879.5
Sep-1687.789.880.8

In the year to September, residential property prices at national level increased by 7.3%. This compares with an increase of 6.8% in the year to August and an increase of 4.2% in the twelve months to September 2015.

In Dublin, residential property prices increased by 5.4% in the year to September. Dublin house prices increased 5.7%. Whereas apartments increased 6.0% in the same period. The highest house price growth was in Dublin City, 6.7%. In contrast, the lowest growth was in Dún Laoghaire-Rathdown, with house prices rising just 3.5%. 

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 11.0% higher in the year to September. House prices in the Rest of Ireland increased 10.9% over the period. The Midland region showed the greatest price growth, with house prices increasing 15.0%.  Conversely, the Mid-East region showed the least price growth, with house prices increasing 5.3%. Apartment prices in the Rest of Ireland increased 12.5% in the same period.

Overall Decline

Overall, the national index is 33.1% lower than its highest level in 2007. Dublin residential property prices are 33.5% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 37.5% lower than their May 2007 peak.

Recovery

From the trough in early 2013, prices nationally have increased by 46.9%. In the same period, Dublin residential property prices increased by 62.7%, while residential properties in the Rest of Ireland index increased 43.8% from their lowest point.

Table 2 - Residential Property Price Index (Base Jan 2005=100)
Price IndexJuly 2016August 2016September 20161 month % change3 month % changeAnnual % change
National - all residential properties85.486.687.71.35.27.3
National - houses89.090.391.51.35.57.8
National - apartments71.572.373.21.23.07.8
       
Dublin - all residential properties87.588.889.81.14.45.4
Dublin - houses93.194.695.71.24.95.7
Dublin - apartments77.378.278.90.92.26.0
Dublin City - houses96.497.898.91.14.26.7
Dún Laoghaire-Rathdown - houses91.993.394.31.13.63.5
Fingal - houses86.085.886.20.50.65.1
South Dublin - houses92.492.793.91.33.04.3
       
National excluding Dublin - all residential properties78.679.580.81.66.211.0
National excluding Dublin - houses81.082.083.21.56.110.9
National excluding Dublin - apartments54.855.557.53.66.712.5
Border excluding Louth - houses64.764.965.40.82.37.0
Midland houses78.578.380.52.85.215.0
West - houses74.175.576.00.74.711.9
Mid-East including Louth - houses85.386.487.71.54.55.3
Mid-West including South Tipperary - houses77.379.379.60.45.29.2
South-East excluding South Tipperary - houses69.071.573.32.59.412.3
South-West - houses90.991.393.22.15.414.1

 

Note

Because the RPPI is based on Revenue stamp duty returns, which have a 44 day submission deadline, only a fraction of the two most recent months’ residential property transactions are available for index compilation the following month. This means that the RPPI for the latest two months is provisional and subject to revision. See background notes.

 

The Statbank Tables are available here

 

 

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