The rate at which residential property prices have been rising continued to slow in February, according to the latest figures from the Central Statistics Office (CSO).
The latest Residential Property Price Index shows prices increased by 5% in the 12 months to February, with prices in Dublin rising by 3.2% and prices outside the capital rising at twice that rate, up by 6.4%.
This increase was down from 6.1% from the previous month and from the high values of 15.1% in the 12 months to February and March 2022.
This is the 11th consecutive month that annual property price inflation has increased by a smaller margin than the previous month.
The figures also show fewer people bought homes, with 3,351 purchases made by households, which was a 6.5% decrease compared with the 3,584 purchases in February 2022 and an 8.8% decline compared with the 3,675 purchases in January.
The total value of transactions filed in February was €1.2 billion while the median price of a dwelling purchased in the 12 months to February was €310,000.
In Dublin, house prices increased by 3% and apartment prices were up by 4%. The highest house price growth in Dublin was in South Dublin at 9.3%, while Dublin City saw a decline of 0.5%.
Outside Dublin, house prices were up by 6.6% and apartment prices rose by 3.3%. The region outside of Dublin that saw the largest rise in house prices was the Border (Cavan, Donegal, Leitrim, Monaghan, Sligo) at 9%, while at the other end of the scale, the Mid-West (Clare, Limerick, Tipperary) saw an 4.9% rise.
The lowest median price for a house in the 12 months to February 2023 was €152,000 in Longford, while the highest median price was €630,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to February 2023 was A94 'Blackrock' with a median price of €755,000, while F35 'Ballyhaunis' and F45 ‘Castlerea’ shared the least expensive price of €130,000.
