And…We’re Back

at

Table from a Central Statistics Office report published earlier today

The Central Statistics Office reports:

In the year to May, residential property prices at national level increased by 12.4%. This compares with an increase of 13.5% in the year to April and an increase of 10.9% in the twelve months to May 2017.

In Dublin, residential property prices increased by 10.7% in the year to May. Dublin house prices increased 10.3%. Apartments in Dublin increased 13.5% in the same period. The highest house price growth was in Dublin City, at 14.6%. In contrast, the lowest growth was in South Dublin, where house prices increased 6.6%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 14.1% higher in the year to May. House prices in the Rest of Ireland increased 13.7% over the period. The Mid-West region showed the greatest price growth, with house prices increasing 22.1%. The Border region showed the least price growth, with house prices increasing 3.7%. Apartment prices in the Rest of Ireland increased 15.5% in the same period.

Overall, the national index is 20.4% lower than its highest level in 2007. Dublin residential property prices are 22.5% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 25.5% lower than their May 2007 peak.

And…

In the 12 months to May, the median price paid by households for a dwelling on the residential property market was €235,000.

Dublin was the region with the highest median price (€359,000) in the year to May. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown had the highest median price (€528,500). Whereas, Fingal had the lowest median price (€315,000).

Outside Dublin, the highest median prices were in Wicklow (€310,000) and Kildare (€277,250).

The lowest median price for a dwelling was in Longford (€91,000). The next lowest were Leitrim and Roscommon (both €95,000)

Residential Property Price Index May 2018 (CSO)

16 thoughts on “And…We’re Back

  1. Dr.Fart MD

    When prices shot up during the boom years it was heralded as a positive sign by the government. The current gov. think the same. Never has any government done anything to reverse escalating prices, the only thing that ever does do that, is a recession.

  2. andy

    “Dublin was the region with the highest median price (€359,000) in the year to May. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown had the highest median price (€528,500). Whereas, Fingal had the lowest median price (€315,000).”

    It seems the majority of houses are not being bought in leafy DLR.

    Is a €360k median price for a house/apartment in Dublin that bad?

  3. Cian

    Looks like the increases are finally slowing down
    Hopefully the next few quarters will see the prices stabilizing and possibly starting to drop gradually

  4. stephen c

    and in comes the fire sale. The amount of people holding out to try sell off their BTL properties as soon as NE ended is insane. Prepare for a large contraction in the rental market as many people get out, square up the mortgage and resign to not using property as an investment strategy.

Comments are closed.