Property prices have increased for the fifth month in-a-row, according to the latest figures from the Central Statistics Office (CSO).
Their report shows that residential property prices rose by 5.4% in the 12 months to January, up from 4.1% the previous month.
The latest Residential Property Price Index shows that prices in Dublin have risen by 4.5%, with prices outside the capital up by 6.1%.
The housing market had slowed significantly last year on the back of 10 consecutive interest rate rises from the European Central Bank (ECB), which have made it more expensive for buyers to borrow.
However, despite stock remaining low interest in the market remains high.
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 total value of transactions filed in January was €1.4 billion.
The median price of a dwelling purchased in the 12 months to January 2024 was €330,000 – up from €305,000 in January 2023.
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% 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.
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 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.
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