Property prices in Ireland at the end of last year had increased at almost double the rate compared to the end of 2023, according to the latest residential property price index from the Central Statistics Office (CSO) which found that the median amount paid for a property last year was €355,000.
The figure of €355,000 was up from €327,500 in 2023 and €155,000 in 2013.
The CSO said that national prices are now also 16.8% above the highest level at the peak of the Celtic Tiger property boom in 2007.
Their latest report found that property prices increased by 8.7% in the 12 months to December 2024, with prices in Dublin rising by 8.3% and prices outside Dublin up by 9%.
While this was down from a revised figure of 9.6% in the year to November 2024, it shows that prices are continuing to grow across Ireland with this the 16th consecutive month of increases. The 8.7% rate was up from a rate of 4.4% at the end of 2023.
In the 12 months to December 2024, house prices in Dublin rose by 8.7% while apartment prices increased by 6.9%. The highest house price growth in Dublin was in Fingal at 10.0% while South Dublin saw a rise of 6.9%.
Outside Dublin, house prices were up by 9.3% and apartment prices rose by 5.8%. The region outside of Dublin that saw the largest growth in house prices was the Border (Cavan, Donegal, Leitrim, Monaghan, and Sligo) at 14.2%, while at the other end of the scale, the Mid-East (Kildare, Louth, Meath, and Wicklow) saw a 5.9% rise.
In December 2024, 5,177 dwelling purchases by households at market prices were filed with the Revenue Commissioners, an increase of 2.3% when compared with the 5,063 purchases in December 2023.
Households paid a median or mid-point price of €355,000 for a residential property in the 12 months to December 2024. The lowest median price paid for a dwelling was €182,250 in Longford, while the highest was €660,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to December 2024 was A94 'Blackrock' with a median price of €730,000, while H23 'Clones' had the least expensive price of €131,000.
Looking at the full year 2024, the median or mid-point price paid by households for a residential property was €355,000, compared with €259,000 in 2019, and €155,000 in 2013.
In 2024, a total of 48,775 dwelling purchases by households at market prices were filed with Revenue. This represents a 2.9% decrease compared with 50,234 purchases in 2023.
The annual national index for 2024 reached a value of 183.4, which is 12.7% higher than it was for 2007 when it reached a peak of 162.7.
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