06/19/2024 | Press release | Distributed by Public on 06/19/2024 04:12
The national Residential Property Price Index (RPPI) increased by 7.9% in the 12 months to April 2024, with prices in Dublin rising by 8.3% and prices outside Dublin up by 7.6%.
In April 2024, 3,572 dwelling purchases by households at market prices were filed with the Revenue Commissioners, up by 9.5% when compared with the 3,262 purchases in April 2023.
The median price of a dwelling purchased in the 12 months to April 2024 was €335,000.
The lowest median price for a dwelling in the 12 months to April 2024 was €169,000 in Longford, while the highest median price was €624,999 in Dún Laoghaire-Rathdown.
The Central Statistics Office (CSO) has today (19 June 2024) released Residential Property Price Index (RPPI) April 2024.
Commenting on the release, Niall Corkery, Statistician in the Prices Division, said: "Residential property prices rose by 7.9% in the 12 months to April 2024, up from 7.4% in the year to March 2024. In Dublin, residential property prices saw an increase of 8.3%, while property prices outside Dublin were 7.6% higher in April 2024 when compared with a year earlier.
In the 12 months to April 2024, house prices in Dublin rose by 8.8% while apartment prices increased by 6.2%. The highest house price growth in Dublin was in South Dublin at 10.5% while Fingal saw a rise of 7.1%.
Outside Dublin, house prices were up by 7.3% and apartment prices increased by 10.3%. The region outside of Dublin that saw the largest rise in house prices was the Mid-West (Clare, Limerick, and Tipperary) at 9.7%, while at the other end of the scale, the Border (Cavan, Donegal, Leitrim, Monaghan, and Sligo) saw a 5.4% rise.
In April 2024, 3,572 dwelling purchases by households at market prices were filed with the Revenue Commissioners, an increase of 9.5% when compared with the 3,262 purchases in April 2023.
Households paid a median or mid-point price of €335,000 for a residential property in the 12 months to April 2024. The lowest median price paid for a dwelling was €169,000 in Longford, while the highest was €624,999 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to April 2024 was A94 'Blackrock' with a median price of €720,000, while F45 'Castlerea' had the least expensive price of €133,000." 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.
Table 1.1: Residential Property Price Index | Base year 2015=100 | |||
Year | Month | Residential Property Price Index | Percentage Change | |
Over one month | Over 12 months | |||
2023 | April | 166.1 | -0.1 | 3.5 |
2024 | January | 176.9 | 0.7 | 5.4 |
February1 | 177.7 | 0.5 | 6.2 | |
March1 | 178.6 | 0.5 | 7.4 | |
April1 | 179.2 | 0.4 | 7.9 | |
1The latest three month's RPPI results are provisional and subject to revision. |
© 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 179.2, which is 9.6% above its highest level at the peak of the property boom in April 2007. Dublin residential property prices are 1.8% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 10.2% higher than their May 2007 peak.
Property prices nationally have increased by 144.3% from their trough in early 2013. Dublin residential property prices have risen by 143.3% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 153.7% 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