09/18/2023 | Press release | Distributed by Public on 09/18/2023 04:19
The national Residential Property Price Index (RPPI) increased by 1.5% in the 12 months to July 2023, with prices in Dublin decreasing by 1.4% and prices outside Dublin up by 3.8%.
In July 2023, 4,174 dwelling purchases by households at market prices were filed with the Revenue Commissioners, down by 6.1% when compared with the 4,443 purchases in July 2022.
The median price of a dwelling purchased in the 12 months to July 2023 was €320,000.
The lowest median price for a house in the 12 months to July 2023 was €160,000 in Longford, while the highest median price was €630,000 in Dún Laoghaire-Rathdown.
The Central Statistics Office (CSO) has today (18 September 2023) released Residential Property Price Index (RPPI) July 2023.
Commenting on the release, Niall Corkery, Statistician in the Prices Division, said: "Residential property prices rose by 1.5% in the 12 months to July 2023, down from 2.1% in the year to June 2023. In Dublin, residential property prices saw a decrease of 1.4%, while property prices outside Dublin were 3.8% higher in July 2023 than a year earlier.
In the 12 months to July 2023, house prices in Dublin fell by 1.8% while apartment prices were up by 0.1%. The highest house price growth in Dublin was in Fingal at 1.4%, while Dublin City saw a decline of 4.5%.
Outside Dublin, house prices were up by 3.9% and apartment prices rose by 2%. The region outside of Dublin that saw the largest rise in house prices was the South-East (Carlow, Kilkenny, Waterford, Wexford) at 4.8%, while at the other end of the scale, the Border region (Cavan, Donegal, Leitrim, Monaghan, Sligo) saw a 2.2% rise.
In July 2023, 4,174 dwelling purchases by households at market prices were filed with the Revenue Commissioners, a decrease of 6.1% compared with the 4,443 purchases in July 2022.
Households paid a median or mid-point price of €320,000 for a residential property in the 12 months to July 2023. The lowest median price paid for a dwelling was €160,000 in Longford, while the highest was €630,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to July 2023 was A94 'Blackrock' with a median price of €735,000, while F35 'Ballyhaunis' had the least expensive price of €127,500."
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 July | 165.0 | 1.0 | 13.1 |
2023 April | 166.1 | -0.1 | 3.5 |
2023 May | 165.9 | -0.2 | 2.6 |
2023 June | 166.9 | 0.6 | 2.1 |
2023 July | 167.4 | 0.3 | 1.5 |
© 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 167.4, which is 2.3% above its highest level at the peak of the property boom in April 2007. Dublin residential property prices are 8.9% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 3.6% higher than their May 2007 peak.
Property prices nationally have increased by 128.2% from their trough in early 2013. Dublin residential property prices have risen by 125.5% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 138.3% 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