01/24/2024 | Press release | Distributed by Public on 01/24/2024 05:08
The national Residential Property Price Index (RPPI) increased by 2.9% in the 12 months to November 2023, with prices in Dublin rising by 0.9% and prices outside Dublin up by 4.4%.
In November 2023, 4,618 dwelling purchases by households at market prices were filed with the Revenue Commissioners, down by 5.8% when compared with the 4,901 purchases in November 2022.
The median price of a dwelling purchased in the 12 months to November 2023 was €325,000.
The lowest median price for a dwelling in the 12 months to November 2023 was €161,000 in Longford, while the highest median price was €622,000 in Dún Laoghaire-Rathdown.
The Central Statistics Office (CSO) has today (24 January 2024) released Residential Property Price Index (RPPI) November 2023.
Commenting on the release, Niall Corkery, Statistician in the Prices Division, said: "Residential property prices rose by 2.9% in the 12 months to November 2023, up from 2.2% in the year to October 2023. In Dublin, residential property prices saw an increase of 0.9%, while property prices outside Dublin were 4.4% higher in November 2023 than a year earlier.
In the 12 months to November 2023, house prices in Dublin rose by 1% while apartment prices rose by 0.6%. The highest house price growth in Dublin was in Fingal at 2.5% while Dún Laoghaire-Rathdown saw a decline of 0.1%.
Outside Dublin, house prices were up by 4.2% and apartment prices rose by 7.2%. The region outside of Dublin that saw the largest rise in house prices was the Mid-West (Clare, Limerick, and Tipperary) at 7.4%, while at the other end of the scale, the Midlands (Laois, Longford, Offaly, and Westmeath) and the Mid-East (Kildare, Louth, Meath, and Wicklow) both saw a 3.3% rise.
In November 2023, 4,618 dwelling purchases by households at market prices were filed with the Revenue Commissioners, a decrease of 5.8% when compared with the 4,901 purchases in November 2022.
Households paid a median or mid-point price of €325,000 for a residential property in the 12 months to November 2023. The lowest median price paid for a dwelling was €161,000 in Longford, while the highest was €622,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to November 2023 was A94 'Blackrock' with a median price of €725,000, while F45 'Castlerea' had the least expensive price of €135,000." A table of median prices by Eircode area is available, as is our Interactive App where you can explore the median property price by Eircode area.
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 November | 168.4 | 0.2 | 8.5 |
2023 August | 168.5 | 0.5 | 1.1 |
2023 September | 170.1 | 0.9 | 1.4 |
2023 October | 171.8 | 1.0 | 2.2 |
2023 November | 173.2 | 0.8 | 2.9 |
© 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 173.2, which is 5.9% above its highest level at the peak of the property boom in April 2007. Dublin residential property prices are 5.1% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 6.6% higher than their May 2007 peak.
Property prices nationally have increased by 136.1% from their trough in early 2013. Dublin residential property prices have risen by 135% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 145.3% 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