12/13/2023 | Press release | Distributed by Public on 12/13/2023 05:08
The national Residential Property Price Index (RPPI) increased by 2.3% in the 12 months to October 2023, with prices in Dublin decreasing by 0.6% and prices outside Dublin up by 4.5%.
In October 2023, 4,604 dwelling purchases by households at market prices were filed with the Revenue Commissioners, up by 7.2% when compared with the 4,296 purchases in October 2022.
The median price of a dwelling purchased in the 12 months to October 2023 was €323,000.
The lowest median price for a house in the 12 months to October 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 (13 December 2023) released Residential Property Price Index (RPPI) October 2023.
Commenting on the release, Niall Corkery, Statistician in the Prices Division, said: "Residential property prices rose by 2.3% in the 12 months to October 2023, up from 1.4% in the year to September 2023. In Dublin, residential property prices saw a decrease of 0.6%, while property prices outside Dublin were 4.5% higher in October 2023 than a year earlier.
In the 12 months to October 2023, house prices in Dublin fell by 0.7% while apartment prices were down by 0.4%. The highest house price growth in Dublin was in Fingal at 0.8% while Dún-Laoghaire Rathdown saw a decline of 1.5%.
Outside Dublin, house prices were up by 4.5% and apartment prices rose by 5%. The region outside of Dublin that saw the largest rise in house prices was the Mid-West (Clare, Limerick, and Tipperary) at 6.2%, while at the other end of the scale, the West (Galway, Mayo, and Roscommon) and Mid-East (Kildare, Louth, Meath, and Wicklow) saw a 3.5% rise.
In October 2023, 4,604 dwelling purchases by households at market prices were filed with the Revenue Commissioners, an increase of 7.2% when compared with the 4,296 purchases in October 2022.
Households paid a median or mid-point price of €323,000 for a residential property in the 12 months to October 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 October 2023 was A94 'Blackrock' with a median price of €730,000, 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 October | 168.1 | 0.2 | 9.6 |
2023 July | 167.7 | 0.5 | 1.7 |
2023 August | 168.5 | 0.5 | 1.1 |
2023 September | 170.1 | 0.9 | 1.4 |
2023 October | 171.9 | 1.1 | 2.3 |
© 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 171.9, which is 5.1% above its highest level at the peak of the property boom in April 2007. Dublin residential property prices are 6.3% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 6.1% higher than their May 2007 peak.
Property prices nationally have increased by 134.3% from their trough in early 2013. Dublin residential property prices have risen by 132% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 144.3% 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