Property prices continued to increase in July, according to the latest figures from the Central Statistics Office (CSO).
The latest figures show prices were up 1.5% in the year to July, buoyed by strong demand for first-time buyers and a lack of supply.
Prices were also up 0.3% in the month compared with June.
Despite the increase, prices in Dublin fell by 1.4% with prices outside Dublin up by 3.8%.
While prices continue to rise, the rate of increase has been slowing – down from 2.1% in the year to June.
This marked the slowest annual rate of growth in almost three years and compared to a growth rate of 13.1% the same time last year.
In the 12 months to July 2023, house prices in Dublin fell by 1.8% while apartment prices were up by 0.1%. The highest house price growth in Dublin was in Fingal at 1.4%, while Dublin City saw a decline of 4.5%.
Outside Dublin, house prices were up by 3.9% and apartment prices rose by 2%. The region outside of Dublin that saw the largest rise in house prices was the South-East (Carlow, Kilkenny, Waterford, Wexford) at 4.8%, while at the other end of the scale, the Border region (Cavan, Donegal, Leitrim, Monaghan, Sligo) saw a 2.2% rise.
In July, 4,174 dwelling purchases by households at market prices were filed with the Revenue Commissioners, down by 6.1% when compared with the 4,443 purchases in July 2022.
The median price of a dwelling purchased in the 12 months to July was €320,000.
The lowest median price for a house in the 12 months to July 2023 was €160,000 in Longford, while the highest median price was €630,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to July 2023 was A94 'Blackrock' with a median price of €735,000, while F35 'Ballyhaunis' had the least expensive price of €127,500."
The CSO’s national property price index has now reached the value of 167.4, which is 2.3pc above its highest level at the peak of the property boom in April 2007.
Dublin residential property prices are 8.9pc lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 3.6pc higher than their May 2007 peak.
Property prices nationally have increased by 128.2pc from their trough in early 2013.
Dublin residential property prices have risen by 125.5pc from their February 2012 low, while residential property prices in the Rest of Ireland are 138.3pc higher than at the trough, which was in May 2013.
