Residential property prices continue to grow in the Republic with a double-digit increase recorded in the year to August 2024 as demand continues to remain strong.
The latest figures from the Central Statistics Office (CSO) show that the national Residential Property Price Index increased by 10.1% in the 12 months to August 2024, with prices in Dublin rising by 10.8% and prices outside Dublin up by 9.6%.
The latest increase – the 12th month in-a-row that prices have risen - is the highest since September 2022 and is up on the rise of 9.6% recorded in the previous month.
Prices are now 13.4% above the peak they reached in April 2007 before the market crashed during the financial crisis.
In the 12 months to August 2024, house prices in Dublin rose by 11.6% while apartment prices increased by 7.9%. The highest house price growth in Dublin was in Fingal at 12.4% while Dún Laoghaire-Rathdown saw a rise of 10.3%.
Outside Dublin, house prices were up by 9.5% and apartment prices increased by 10.1%. The region outside of Dublin that saw the largest rise in house prices was the Border (Cavan, Donegal, Leitrim, Monaghan, and Sligo) at 15.1%, while at the other end of the scale, the Mid-East (Kildare, Louth, Meath, and Wicklow) saw an 8% rise.
In August 2024, 3,990 dwelling purchases by households at market prices were filed with the Revenue Commissioners, a decrease of 14% when compared with the 4,640 purchases in August 2023.
Households paid a median or mid-point price of €345,000 for a residential property in the 12 months to August 2024.
The lowest median price paid for a dwelling was €175,000 in Longford, while the highest was €635,000 in Dún Laoghaire-Rathdown. The most expensive Eircode area over the 12 months to August 2024 was D06 'Dublin 6' with a median price of €725,000, while H23 'Clones' had the least expensive price of €135,000.
Follow MyHome on WhatsApp for all the latest property news and advice.
