Property prices have now risen for the last six months in-a-row.
That’s according to the latest Residential Property Price Index from the Central Statistics Office (CSO) which increased by 2.9% in the 12 months to November 2023.
In that period prices in Dublin have risen by 0.9%, with prices outside the capital up by 4.4%.
In the month to November prices rose by 0.8%, the sixth consecutive monthly increase dating back to June last year.
The latest increase means property prices nationwide are now 5.9% above their highest level at the peak of the property boom in April 2007.
In the 12 months to November 2023, house prices in Dublin rose by 1% while apartment prices rose by 0.6%. The highest house price growth in Dublin was in Fingal at 2.5% while Dún Laoghaire-Rathdown saw a decline of 0.1%.
Outside Dublin, house prices were up by 4.2% and apartment prices rose by 7.2%. The region outside of Dublin that saw the largest rise in house prices was the Mid-West (Clare, Limerick, and Tipperary) at 7.4%, while at the other end of the scale, the Midlands (Laois, Longford, Offaly, and Westmeath) and the Mid-East (Kildare, Louth, Meath, and Wicklow) both saw a 3.3% rise.
In November 2023, 4,618 dwelling purchases by households at market prices were filed with the Revenue Commissioners, down by 5.8% when compared with the 4,901 purchases in November 2022.
The median price of a dwelling purchased in the 12 months to November 2023 was €325,000.
The lowest median price paid for a dwelling was €161,000 in Longford, while the highest was €622,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to November 2023 was A94 'Blackrock' with a median price of €725,000, while F45 'Castlerea' had the least expensive price of €135,000.
New home prices were up by 10.4% in the third quarter of last year, the CSO said.
Existing home prices fell by 1% in the same quarter when compared with the previous year.
Overall, prices of new dwellings have risen by 113% from their trough in the middle of 2013.
Prices of existing dwellings are now 130% higher than at their trough in 2012.
In the year to November, 50,384 home purchases by households at market prices were filed with Revenue.
Of these, just over a third were purchased by first time buyer owner-occupiers, while former owner-occupiers purchased 53.4%. The balance of 12% were acquired by non-occupiers.
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