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Volume of purchases up 12.2% compared to March 2016

 

Table 2.1: Household market transactions filed with Revenue
MonthVolume Value (million)Average PriceMedian Price
January 20173,136€773.5€246,662€195,000
February 20172,658€684.7€257,599€204,650
March 20173,026€754.8€249,444€200,000

Volume and Value

In the month of March, there were 3,026 household market residential dwelling purchases filed with the Revenue Commissioners. This represents a 12.2% increase compared to March 2016, when 2,697 purchases were filed, and an increase of 13.8% compared to February 2017, when 2,658 purchases were filed. The total value of the market based on transactions filed in March was €754.8 million.

New and Existing Dwellings

Of the 3,026 household market dwelling purchases filed with the Revenue Commissioners in March, 236 (7.8%) were for new dwellings and 2,790 (92.2%) were for existing dwellings. Compared to March 2016, the volume of new dwelling purchases increased by 32.6% and the volume of existing dwelling purchases increased by 10.8% (See Figure 2.1).

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-162243051
Sep-162093170
Oct-162063052
Nov-163073331
Dec-162653268
Jan-172182918
Feb-172132445
Mar-172362790

Buyer Type

In the 12 months to March, there were 37,623 household market dwelling purchases filed with the Revenue Commissioners. Of these, 9,582 (25.5%) were purchases by first-time buyer owner-occupiers; 19,462 (51.7%) were purchases by former owner-occupiers; 8,579 (22.8%) were purchases by non-occupiers (see Figure 2.2). 

In March 804 first-time buyer purchases were filed with Revenue. This is an increase of 22.7% compared to March 2016 and an increase of 18.8% compared to February 2017. These purchases comprised 94 new dwellings and 710 existing dwellings.

Buyer Type
25.5%
First-Time Buyer
9582
51.7%
Former Owner-Occupier
19462
22.8%
Non-Occupier
8579

Average Price

In the 12 months to March, the average market price paid by households for a dwelling was €246,948.

In the year to March, 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 €400,489. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown was the most expensive, with an average price of €561,203 over the 12 month period. Whereas, South Dublin was the least expensive, with an average price of €314,932.

After Dublin, the next most expensive region was the Mid-East, where the average price paid by households was €246,556. Within the Mid-East, Co. Wicklow was most expensive, with an average price of €316,269, 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 €116,226. However, the least expensive county was Co. Longford in the Midland region, with an average price of €87,989 (see Figure 2.3).

Median Price

In the 12 months to March, the median price paid by households for a dwelling on the residential property market was €195,000.

Dublin was the region with the highest median price (€319,000) in the year to March. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown had the highest median price (€470,000). Whereas, Fingal had the lowest median price (€275,000).

Outside Dublin, the highest median prices were in Wicklow (€275,000) and Kildare (€242,000).

The lowest median prices for a dwelling were in Longford (€73,000) and Roscommon (€77,500) (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

Go to next chapter >>> House Prices by Eircode