Residential Property Price Index December 2016

 

Volume and Value

In the month of December, there were 3,536 household market residential dwelling purchases filed with the Revenue Commissioners. This represents a 2.0% decrease compared to December 2015, when 3,609 purchases were filed, and an increase of 2.9% compared to November 2016, when 3,642 purchases were filed. The total value of the market based on transactions filed in December was €907.6 million.

New and Existing Dwellings

Of the 3,536 household market dwelling purchases filed with the Revenue Commissioners in December, 265 (7.5%) were for new dwellings and 3,271 (92.5%) were for existing dwellings. Compared to December 2015, the volume of new dwellings purchases increased 6.0% and the volume of existing dwellings purchases decreased by 2.6% (See Figure 2).

 

Average Price

In the 12 months to December, the average market price paid by households for a dwelling was €240,947.

In the year to December, the average price paid by households was higher in Dublin than in other region or county. The average price paid for a dwelling in Dublin was €392,233. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown was the most expensive, with an average price of €549,697 over the 12 month period. Conversely, South Dublin was the least expensive, with an average price of €311,556.

After Dublin, the next most expensive region was the Mid-East, where the average price paid by households was €241,940. Within the Mid-East, Co. Wicklow was most expensive, with an average price of €312,621, 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 €113,049. However, the least expensive county was Co. Longford in the Midland region, with an average price of €87,003 (see Figure 4).

 

 

Median Price

In the 12 months to December, the median price paid by households for a dwelling on the residential property market was €190,000.

Dublin was the region with the highest median price (€310,000) in the year to December. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown had the highest median price (€465,500). Conversely, Fingal had the lowest median price (€270,000).

Outside Dublin, the highest median prices were in Wicklow (€270,000) and Kildare (€238,000).

The lowest median prices for a dwelling were in Longford (€73,000) and Leitrim (€75,000) (See Figure 5).

Note 

Neither average nor median 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