Residential property prices in Ireland are now close to 10% more expensive than they were at the peak of the Celtic Tiger property boom in April 2007.
That’s according to new figures from the Central Statistics Office (CSO), which show that the national index has now reached the value of 179.2, which is 9.6% above its highest level at the peak of the property boom more than 17 years ago.
Dublin residential property prices are 1.8% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 10.2% higher than their May 2007 peak.
The latest figures also show that property prices nationally have increased by 144.3% from their trough in early 2013. Dublin residential property prices have risen by 143.3% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 153.7% higher than at their lowest point, which was in May 2013.
The latest Residential Property Price Index for April show that prices grew at the fastest annual pace in almost a year and a half, increasing by 7.9% compared to growth of 7.4% a month earlier.
The CSO said that Dublin property prices saw an annual increase of 8.3%, while property prices outside Dublin were 7.6% higher in April when compared with the same time last year.
The latest CSO figures show that in the 12 months to April, house prices in Dublin rose by 8.8% while apartment prices increased by 6.2%.
The highest house price growth in Dublin was in South Dublin at 10.5% while Fingal saw a rise of 7.1%. Outside Dublin, house prices were up by 7.3% and apartment prices increased by 10.3%.
The region outside of Dublin that saw the largest rise in house prices was the Mid-West (Clare, Limerick, and Tipperary) at 9.7%, while at the other end of the scale, the Border (Cavan, Donegal, Leitrim, Monaghan, and Sligo) saw a 5.4% rise.
In April 2024, 3,572 dwelling purchases by households at market prices were filed with the Revenue Commissioners, up by 9.5% when compared with the 3,262 purchases in April 2023.
The median price of a dwelling purchased in the 12 months to April 2024 was €335,000.
The lowest median price for a dwelling in the 12 months to April 2024 was €169,000 in Longford, while the highest median price was €624,999 in Dún Laoghaire-Rathdown.
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