Property prices are rising at their fastest rate in seven years, according to the latest figures from the Central Statistics Office (CSO).
The Residential Property Price Index (RPPI) increased by 14.8% nationally in the 12 months to January 2022, with prices in Dublin rising by 13.3% and prices outside Dublin up by 16%.
This is the 17th consecutive month that the annual rate of house price inflation has been stronger than the previous month.
In January 2022, 3,517 dwelling purchases by households at market prices were filed with Revenue, an increase of 0.9% compared to the 3,484 purchases in January 2021
The median price of a dwelling purchased in the 12 months to January 2022 was €280,000.
The lowest median price for a house in the 12 months to January 2022 was €130,000 in Longford, while the highest median price was €595,000 in Dún Laoghaire-Rathdown.
In Dublin, house prices increased by 13.6% and apartment prices by 11.8%. The highest house price growth in Dublin was in Dublin City at 15.1%, while South Dublin saw a rise of 12.3%.
Outside Dublin, house prices were up by 15.9% and apartment prices up by 17.5%. The region outside of Dublin that saw the largest rise in house prices was the Border at 24.7%, while at the other end of the scale, the Mid-West saw a 13.8% rise.
Existing dwellings accounted for 2,899 (82.4%) of the dwelling purchases filed with the Revenue Commissioners in January 2022, the balance of 618 (17.6%) were new dwellings.
