Dublin house prices fell at their fastest annual rate in nearly three years in June, according to the latest Residential Property Price Index from the Central Statistics Office (CSO).
The report found that prices in the capital dropped by 0.9% in June, the biggest yearly decline recorded since October 2020.
House prices across the rest of the country continued to grow on an annual basis in June but at a much reduced rate of 2.2%, down from 2.6% the previous month and from an annual rate of 14% in June 2022.
Prices outside Dublin were up by 4.5% in total but on a monthly basis prices rose by 0.6% which was the first monthly increase this year.
In the 12 months to June 2023, house prices in Dublin fell by 1.1% and apartment prices were down by 0.2%. The highest house price growth in Dublin was in South Dublin at 2.8%, while Dublin City saw a decline of 3.8%.
Outside Dublin, house prices were up by 4.7% and apartment prices rose by 2.3%. The region outside of Dublin that saw the largest rise in house prices was the South-East (Carlow, Kilkenny, Waterford, Wexford) at 5.5%, while at the other end of the scale, the Border region (Cavan, Donegal, Leitrim, Monaghan, Sligo) saw a 3% rise.
In June 2023, 4,025 dwelling purchases by households at market prices were filed with the Revenue Commissioners, down by 1.7% when compared with the 4,094 purchases in June 2022.
The median price of a dwelling purchased in the 12 months to June 2023 was €318,000.
The lowest median price for a house in the 12 months to June 2023 was €160,000 in Leitrim and Longford, while the highest median price was €630,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to June 2023 was A94 'Blackrock' with a median price of €735,000, while F35 'Ballyhaunis' had the least expensive price of €127,500."
