Residential Property Price Index February 2017

Volume and Value

In the month of February, there were 2,658 household market residential dwelling purchases filed with the Revenue Commissioners. This represents a 3.8% decrease compared to February 2016, when 2,762 purchases were filed, and a decrease of 15.2% compared to January 2017, when 3,136 purchases were filed. The total value of the market based on transactions filed in February was €684.7 million.

New and Existing Dwellings

Of the 2,658 household market dwelling purchases filed with the Revenue Commissioners in February, 213 (8.0%) were for new dwellings and 2,445 (92.0%) were for existing dwellings. Compared to February 2016, the volume of new dwelling purchases increased by 17.0% and the volume of existing dwelling purchases decreased by 5.2%  (See Figure 2.1).

Average Price

In the 12 months to February, the average market price paid by households for a dwelling was €245,165.

In the year to February, the average price paid by households was higher in Dublin than in any other region or county. The average price paid for a dwelling in Dublin was €398,319. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown was the most expensive, with an average price of €555,346 over the 12 month period. Whereas, South Dublin was the least expensive, with an average price of €313,506.

After Dublin, the next most expensive region was the Mid-East, where the average price paid by households was €244,271. Within the Mid-East, Co. Wicklow was most expensive, with an average price of €313,023, 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 €115,207. However, the least expensive county was Co. Longford in the Midland region, with an average price of €87,584 (see Figure 2.3).

Median Price

In the 12 months to February, the median price paid by households for a dwelling on the residential property market was €191,099.

Dublin was the region with the highest median price (€317,000) in the year to February. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown had the highest median price (€466,172). Whereas, Fingal had the lowest median price (€275,000).

Outside Dublin, the highest median prices were in Wicklow (€273,000) and Kildare (€240,000).

The lowest median prices for a dwelling were in Longford (€72,750) and Roscommon (€78,000) (See Figure 2.4).

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