Residential property prices grew for the 10th month in-a-row in June, according to the latest figures from the Central Statistics Office (CSO).
The latest residential property price index indicated prices rose at an average rate of 8.6% in the 12 months to June, up from a rate of 8.2% the previous month.
This is the highest rate of property price inflation recorded since October 2022 with the monthly rate of increase rising by 0.7% in June compared to 0.4% the previous month.
In Dublin, residential values rose at an even higher annual rate of 9.3%, while prices outside Dublin were 8.2% higher compared with a year earlier.
June was the tenth consecutive month to see an increase in headline inflation in the property market, with a lack of supply appearing to be the major driving factor in the increase in prices.
In the 12 months to June 2024, house prices in Dublin rose by 10% while apartment prices increased by 6.6%. The highest house price growth in Dublin was in Dublin City at 11.7% while Dún Laoghaire-Rathdown saw a rise of 8.5%.
Outside Dublin, house prices were up by 8% and apartment prices increased by 10%. The region outside of Dublin that saw the largest rise in house prices was the Mid-West (Clare, Limerick, and Tipperary) at 12.0%, while at the other end of the scale, the South-East (Carlow, Kilkenny, Waterford, and Wexford) saw a 5.6% rise.
In June 2024, 3,563 dwelling purchases by households at market prices were filed with the Revenue Commissioners, a decrease of 11.5% when compared with the 4,025 purchases in June 2023.
Households paid a median or mid-point price of €337,500 for a residential property in the 12 months to June 2024. The lowest median price paid for a dwelling was €169,000 in Longford, while the highest was €630,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to June 2024 was D06 'Dublin 6' with a median price of €773,000, while F45 'Castlerea' had the least expensive price of €139,000.
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