Residential property prices rise by 12 per cent

Residential property prices rise by 12 per cent

In the year to June, residential property prices at national level increased by 12.0 per cent, according to latest figures from the CSO.

This compares with an increase of 12.4% in the year to May and an increase of 11.4% in the twelve months to June 2017.

In Dublin, residential property prices increased by 9.0% in the year to June. Dublin house prices increased 8.4%.

Apartments in Dublin increased 12.8% in the same period. The highest house price growth was in Dublin City, at 12.0%.

In contrast, the lowest growth was in South Dublin, where house prices increased 5.9%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 15.2% higher in the year to June. House prices in the Rest of Ireland increased 14.6% over the period.

The Mid-West region showed the greatest price growth, with house prices increasing 22.3%.

The Border region showed the least price growth, with house prices increasing 4.9%. Apartment prices in the Rest of Ireland increased 20.3% in the same period.

Overall Decline

Overall, the national index is 19.5% lower than its highest level in 2007.

Dublin residential property prices are 22.2% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 24.2% lower than their May 2007 peak.

Recovery

From the trough in early 2013, prices nationally have increased by 79.6%. Dublin residential property prices have increased 92.7% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 74.4% higher than the trough, which was in May 2013.