RESIDENTIAL PROPERTY PRICES RISE BY 10.4% IN THE YEAR TO JULY

In the year to July, residential property prices at national level increased by 10.4%. This compares with an increase of 11.9% in the year to June and an increase of 11.6% in the twelve months to July 2017.

In Dublin, residential property prices increased by 7.2% in the year to July. Dublin house prices increased 6.5%. Apartments in Dublin increased 11.0% in the same period. The highest house price growth was in Dún Laoghaire-Rathdown, at 9.8%. In contrast, the lowest growth was in South Dublin, where house prices increased 5.2%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 13.7% higher in the year to July. House prices in the Rest of Ireland increased 13.1% over the period. The Mid-West region showed the greatest price growth, with house prices increasing 23.7%. The Border region showed the least price growth, with house prices increasing 6.0%. Apartment prices in the Rest of Ireland increased 18.7% in the same period.

Overall Decline

Overall, the national index is 18.8% lower than its highest level in 2007. Dublin residential property prices are 21.8% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 23.1% lower than their May 2007 peak.

Recovery

From the trough in early 2013, prices nationally have increased by 81.3%. Dublin residential property prices have increased 93.8% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 76.9% higher than the trough, which was in May 2013.

www.cso.ie