03/20/2024 | Press release | Distributed by Public on 03/20/2024 05:02
The national Residential Property Price Index (RPPI) increased by 5.4% in the 12 months to January 2024, with prices in Dublin rising by 4.5% and prices outside Dublin up by 6.1%.
In January 2024, 3,621 dwelling purchases by households at market prices were filed with the Revenue Commissioners, down by 1.5% when compared with the 3,675 purchases in January 2023.
The median price of a dwelling purchased in the 12 months to January 2024 was €330,000.
The lowest median price for a dwelling in the 12 months to January 2024 was €165,000 in Leitrim, while the highest median price was €620,000 in Dún Laoghaire-Rathdown.
The Central Statistics Office (CSO) has today (20 March 2024) released Residential Property Price Index (RPPI) January 2024.
Commenting on the release, Niall Corkery, Statistician in the Prices Division, said: "Residential property prices rose by 5.4% in the 12 months to January 2024, up from 4.1% in the year to December 2023. In Dublin, residential property prices saw an increase of 4.5%, while property prices outside Dublin were 6.1% higher in January 2024 than a year earlier.
In the 12 months to January 2024, house prices in Dublin rose by 4.7% while apartment prices rose by 3.9%. The highest house price growth in Dublin was in Dublin City at 6.2% while Dún Laoghaire-Rathdown saw a rise of 2.6%.
Outside Dublin, house prices were up by 6.0% and apartment prices rose by 7.4%. The region outside of Dublin that saw the largest rise in house prices was the Mid-West (Clare, Limerick, and Tipperary) at 9.5%, while at the other end of the scale, the Border (Cavan, Donegal, Leitrim, Monaghan, and Sligo) saw a 2.4% rise.
In January 2024, 3,621 dwelling purchases by households at market prices were filed with the Revenue Commissioners, a decrease of 1.5% when compared with the 3,675 purchases in January 2023.
Households paid a median or mid-point price of €330,000 for a residential property in the 12 months to January 2024. The lowest median price paid for a dwelling was €165,000 in Leitrim, while the highest was €620,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to January 2024 was A94 'Blackrock' with a median price of €720,000, while F45 'Castlerea' had the least expensive price of €134,000." 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 (%) |
2023 January | 167.9 | -0.5 | 6.2 |
2023 October | 171.9 | 1.0 | 2.3 |
2023 November | 173.5 | 1.0 | 3.0 |
2023 December | 175.7 | 1.3 | 4.1 |
2024 January | 177.0 | 0.7 | 5.4 |
© 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 177.0, which is 8.2% above its highest level at the peak of the property boom in April 2007. Dublin residential property prices are 3.1% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 8.9% higher than their May 2007 peak.
Property prices nationally have increased by 141.2% from their trough in early 2013. Dublin residential property prices have risen by 140.0% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 150.6% 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