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Additional Indicators

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Volume of sales down marginally but value increases by 7.1%

The additional indicators are based on Revenue data and provide information on volume, value and average price on a geographically granular level. It should be noted that average prices are not appropriate for measuring the evolution of property prices as the mix of houses sold in different periods can change over time.

Table 3: Household market transactions filed with Revenue
MonthVolume Value (million)Average Price
July 20163,197€772.9€241,764
August 20163,277€842.9€257,214
September 20163,382€856.6€253,268

 Volume and Value

In the month of September, there were 3,382 household market residential dwelling purchases filed with the Revenue Commissioners. This represents a 3.2% increase compared to August 2016, when 3,277 purchases were filed, and a decrease of 0.2% compared to September 2015, when 3,390 purchases were filed. However, when measured by value, the housing market has increased by 7.1% (€799.9 million to €856.6 million) in the twelve months to September 2016.

New and Existing Dwellings

Of the 3,382 household market dwelling purchases filed with the Revenue Commissioners in September, 209 (6.2%) were for new dwellings and 3,173 (93.8%) were for existing dwellings. Compared to September 2015, the volume of new dwelling purchases increased 14.8% and the volume of existing dwelling purchases decreased by 1.1% (See Figure 2)

X-axis labelNewExisting
Jan-10114610
Feb-10152824
Mar-101851005
Apr-10147955
May-101761146
Jun-101871190
Jul-101881362
Aug-101761418
Sep-101761382
Oct-101241153
Nov-101821219
Dec-101381037
Jan-111221026
Feb-11115876
Mar-11140987
Apr-1188854
May-11106967
Jun-111251040
Jul-11941200
Aug-111061140
Sep-111041298
Oct-111011152
Nov-11971361
Dec-11951422
Jan-121111163
Feb-121111072
Mar-121271077
Apr-12841006
May-121071305
Jun-121011216
Jul-121091626
Aug-121101674
Sep-121081465
Oct-121221717
Nov-122392631
Dec-121171708
Jan-131911988
Feb-131041168
Mar-131211170
Apr-131121359
May-131481532
Jun-131061465
Jul-131382090
Aug-131321960
Sep-131491961
Oct-131322179
Nov-131562246
Dec-132252233
Jan-142182385
Feb-141431575
Mar-141461928
Apr-141601941
May-141842159
Jun-141952172
Jul-142342884
Aug-141562592
Sep-142212979
Oct-141803033
Nov-141952719
Dec-142953632
Jan-152703661
Feb-151592668
Mar-152012785
Apr-151942467
May-151952493
Jun-151982605
Jul-152223300
Aug-151982896
Sep-151823208
Oct-152183096
Nov-152023042
Dec-152503359
Jan-162122743
Feb-161822580
Mar-161782519
Apr-162092489
May-162142667
Jun-162382706
Jul-162312966
Aug-162243053
Sep-162093173

Buyer Type

In the 12 months to September there were 36,960 household market dwelling purchases filed with the Revenue Commissioners. Of these, 9,073 (24.5%) were purchases by first-time buyer owner-occupiers, 19,209 (52.0%) were purchases by former owner-occupiers and 8,678 (23.5%) were purchases by non-occupiers (see Figure 3).

 

Buyer Type
24.5%
First-Time Buyer
9073
52.0%
Former Owner-Occupier
19209
23.5%
Non-Occupier
8678

Average Price

In September, the average market price paid by households was €253,268. However, it should be noted that this is a simple average, not quality adjusted, and therefore not aligned with the Residential Property Price Index (this simple average can vary considerably from month to month as the mix of properties sold changes). The average price over 12 months is a more stable measure of average price (although still not quality adjusted). In the 12 months to August the average market price paid by households was €233,984.

In the year to September, the average price paid for a dwelling by households was higher in Dublin than in other region or county. The average price paid for a dwelling in Dublin was €383,451. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown was the most expensive, with an average price of €539,334 over the 12 month period. Conversely, South Dublin was the least expensive, with an average price of €305,244.

After Dublin, the next most expensive region was the Mid-East, where the average market price paid by households was €237,900. Within the Mid-East, Co. Wicklow was most expensive, with an average price of €314,686, making it the second most expensive county after Co. Dublin.

The least expensive region for household purchases over the last 12 months was the Border region, with an average price of €112,615. However, the least expensive county was Co. Longford in the Midland region, with an average price of €84,279 (see Figure 4).

 

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