RESIDENTIAL PROPERTY PRICE INDEX OCTOBER 2017

In the year to October, residential property prices at national level increased by 12.1%. This compares with an increase of 12.2% in the year to September and an increase of 7.5% in the twelve months to October 2016.

In Dublin, residential property prices increased by 11.6% in the year to October. Dublin house prices increased 11.6%. Apartments in Dublin increased 12.1% in the same period. The highest house price growth was in South Dublin, at 14.4%. In contrast, the lowest growth was in Dun Laoghaire-Rathdown, with house prices rising 9.7%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 12.8% higher in the year to October. House prices in the Rest of Ireland increased 12.5% over the period. The West region showed the greatest price growth, with house prices increasing 15.8%. The Midland region showed the least price growth, with house prices increasing 8.0%. Apartment prices in the Rest of Ireland increased 15.9% in the same period.

 

Overall Decline

Overall, the national index is 23.7% lower than its highest level in 2007. Dublin residential property prices are 24.7% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 29.6% lower than their May 2007 peak.

Recovery

From the trough in early 2013, prices nationally have increased by 70.2%. In the same period, Dublin residential property prices have increased 86.4% whilst residential property prices in the Rest of Ireland are 61.9% higher.

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