Residential property prices grew for the 13th month in-a-row in September, according to the latest figures from the Central Statistics Office (CSO).
The national Residential Property Price Index (RPPI) increased by 10% in the 12 months to September 2024.
While this was down from 10.1% in the year to August 2024, the latest report shows that residential property prices rose by 0.9% in September compared to the previous month.
In Dublin, residential property prices saw an increase of 10.8% in September, while property prices outside Dublin were 9.4% higher when compared with a year earlier.
In the 12 months to September 2024, house prices in Dublin rose by 11.5% while apartment prices increased by 8.2%. The highest house price growth in Dublin was in Fingal at 13.5% while Dún Laoghaire-Rathdown saw a rise of 8.9%.
Outside Dublin, house prices were up by 9.6% and apartment prices increased by 7.9%. The region outside of Dublin that saw the largest rise in house prices was the Border (Cavan, Donegal, Leitrim, Monaghan, and Sligo) at 15.3%, while at the other end of the scale, the Mid-East (Kildare, Louth, Meath, and Wicklow) saw a 7.5% rise.
In September 2024, 4,167 dwelling purchases by households at market prices were filed with the Revenue Commissioners, a decrease of 2.1% when compared with the 4,255 purchases in September 2023.
Households paid a median or mid-point price of €346,000 for a residential property in the 12 months to September 2024. The lowest median price paid for a dwelling was €175,000 in Longford, while the highest was €637,500 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to September 2024 was A94 'Blackrock' with a median price of €716,000, while H23 'Clones' had the least expensive price of €135,000.
When it comes to the change in prices for new and existing homes, second-hand home price rises were much stronger.
In the three months to September, prices of new homes were 6.4% higher than the same quarter last year. Prices of existing dwellings in the third quarter were 11% higher than in the corresponding quarter of last year.
The CSO said Revenue data shows that there were 1,443 first-time buyer purchases in September 2024, an increase of 0.9% on the 1,430 recorded in September last year.
These purchases were made up of 480 new dwellings and 963 existing dwellings.
In the year to September, 48,559 dwelling purchases by households at market prices were filed with Revenue. Some 17,207, or 35.4%, of these were purchased by first-time buyer owner-occupiers while former owner-occupiers purchased 25,689, or 52.9% of the homes. The balance of 5,663, or 11.7%, were acquired by non-occupiers. These include housing charities and investment funds.
Property prices nationally have increased by 155% from their trough in early 2013 in the aftermath of the financial crash and are now 14.4% above their highest level at the peak of the property boom in April 2007.
Dublin residential property prices are 2.8% higher than their February 2007 peak, while residential property prices in the Rest of Ireland are 14.9% higher than their May 2007 peak.
Dublin residential property prices have risen by 154.5% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 164.5% higher than at the trough, which was in May 2013.
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