Residential Property Price Index September 2018

Volume and Value

In the month of September, 3,821 household market residential dwelling purchases were filed with the Revenue Commissioners. This represents a 4.3% increase compared to September 2017, when 3,665 purchases were filed, and a decrease of 3.1% compared to August 2018, when 3,944 purchases were filed. The total value of the market based on transactions filed in September was €1.1 billion.

New and Existing Dwellings

Of the 3,821 household market dwelling purchases filed with the Revenue Commissioners in September 678 (17.7%) were for new dwellings and 3,143 (82.3%) were for existing dwellings. Compared to September 2017, the volume of new dwelling purchases increased by 6.3% and the volume of existing dwelling purchases increased by 3.8% (See Figure 2.1).

Median Price

In the 12 months to September, the median price paid by households for a dwelling on the residential property market was €242,000.

Dublin was the region with the highest median price (€364,998) in the year to September. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown had the highest median price (€532,000). Dublin City had the second highest median price (€360,000). Whereas, the lowest median price was found in South Dublin (€324,999).

Outside Dublin, the region with the highest median price was the Mid-East (€267,499). The Mid-East contained the three counties with the highest median prices outside of Dublin: Wicklow (€312,000), Kildare (€290,000) and Meath (€263,000).

The Border was the region with the lowest median price for a dwelling (€120,000). Leitrim and Longford were the counties with the lowest median prices in the state (€95,000).

Mean Price

In the 12 months to September, the mean market price paid by households for a dwelling was €286,837.

In the year to September, the mean price paid by households was higher in Dublin than in any other region or county. The mean price paid for a dwelling in Dublin was €443,129. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown was the most expensive, with a mean price of €614,469 over the 12-month period. In contrast, South Dublin was the least expensive, with a mean price of €357,625.

After Dublin, the next most expensive region was the Mid-East, where the mean price paid by households was €288,047. Within the Mid-East, County Wicklow was most expensive, with a mean price of €357,589, making it the second most expensive county after Dublin.

The least expensive region for household purchases over the last 12 months was the Border region, with a mean price of €132,820. However, the least expensive county was Longford in the Midland region, with a mean price of €105,855 (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