11/15/2023 | Press release | Distributed by Public on 11/15/2023 05:11
The national Residential Property Price Index (RPPI) increased by 1.4% in the 12 months to September 2023, with prices in Dublin decreasing by 1.9% and prices outside Dublin up by 4%.
In September 2023, 4,255 dwelling purchases by households at market prices were filed with the Revenue Commissioners, down by 7.2% when compared with the 4,583 purchases in September 2022.
The median price of a dwelling purchased in the 12 months to September 2023 was €320,000.
The lowest median price for a house in the 12 months to September 2023 was €160,000 in Longford, while the highest median price was €635,000 in Dún Laoghaire-Rathdown.
The Central Statistics Office (CSO) has today (15 November 2023) released Residential Property Price Index (RPPI) September 2023.
Commenting on the release, Niall Corkery, Statistician in the Prices Division, said: "Residential property prices rose by 1.4% in the 12 months to September 2023, up from 1.1% in the year to August 2023. In Dublin, residential property prices saw a decrease of 1.9%, while property prices outside Dublin were 4% higher in September 2023 than a year earlier.
In the 12 months to September 2023, house prices in Dublin fell by 2.5% while apartment prices were up by 0.7%. Within Dublin, there was a fall in house prices of 0.1% in Fingal, while Dublin City saw a decline of 4%.
Outside Dublin, house prices were up by 3.9% and apartment prices rose by 4.5%. The region outside of Dublin that saw the largest rise in house prices was the South-West (Cork, Kerry) at 5.4%, while at the other end of the scale, the Midlands region (Laois, Longford, Offaly, Westmeath) saw a 2.3% rise.
In September 2023, 4,255 dwelling purchases by households at market prices were filed with the Revenue Commissioners, a decrease of 7.2% when compared with the 4,583 purchases in September 2022.
Households paid a median or mid-point price of €320,000 for a residential property in the 12 months to September 2023. The lowest median price paid for a dwelling was €160,000 in Longford, while the highest was €635,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to September 2023 was A94 'Blackrock' with a median price of €735,000, while F45 'Castlerea' had the least expensive price of €130,000."
Month | Residential Property Price Index (Base 2015=100) | Percentage Change over 1 month for Residential Property Price Index (%) | Percentage Change over 12 months for Residential Property Price Index (%) |
2022 September | 167.7 | 0.6 | 10.7 |
2023 June | 166.9 | 0.6 | 2.1 |
2023 July | 167.8 | 0.5 | 1.7 |
2023 August | 168.6 | 0.5 | 1.1 |
2023 September | 170.0 | 0.8 | 1.4 |
© Central Statistics Office, Ireland
https://data.cso.ie/table/HPM09
© Central Statistics Office, Ireland
https://data.cso.ie/table/HPM09
© Central Statistics Office, Ireland
https://data.cso.ie/table/HPM09
The national index has now reached the value of 170.0, which is 3.9% above its highest level at the peak of the property boom in April 2007. Dublin residential property prices are 7.5% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 5.1% higher than their May 2007 peak.
Property prices nationally have increased by 131.7% from their trough in early 2013. Dublin residential property prices have risen by 129% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 141.9% higher than at the trough, which was in May 2013. See Figure 1.3.
© Central Statistics Office, Ireland
https://data.cso.ie/table/HPM09
RPPI is based on Revenue stamp duty returns, which have a 44 day submission deadline. To account for this fact and also for late filings, the RPPI for the latest three months is provisional and subject to revision. See Background Notes