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Residential Property Price Index October 2016



CSO statistical publication, 16 December 2016, 11am

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Residential Property Prices rise by 7.1% in the year to October

 

MonthPrice Index (Jan 2005=100)Monthly % change Annual % change
Aug 201686.61.46.8
Sept 201687.91.57.6
Oct 201688.60.87.1
MonthNationalDublinRest of Ireland
Jan-05100100100
Feb-05100.8102.1100.1
Mar-05101.4102.9100.5
Apr-05102.1103.6101.2
May-05102.8104.4101.9
Jun-05103.7104.5103.3
Jul-05105.3105.7105.1
Aug-05107.1107.8106.7
Sep-05108.2109.7107.4
Oct-05110.6112.8109.3
Nov-05111.5114.3110
Dec-05112.6114.9111.4
Jan-06113.2115.4111.9
Feb-06113.5116.4111.8
Mar-06114.1117.1112.4
Apr-06115.8119.2113.9
May-06118.2122.3115.8
Jun-06120.3125.5117.4
Jul-06123129.5119.5
Aug-06125.8133.3121.6
Sep-06126.8133.5123.1
Oct-06127.6134.4123.8
Nov-06127.6133.9124.1
Dec-06128.6134.1125.5
Jan-07129.7134.3127.1
Feb-07130.3135127.7
Mar-07130.5133.7128.6
Apr-07131134129.2
May-07130.6132.7129.3
Jun-07130.3133128.7
Jul-07130.6133.7128.8
Aug-07130.4133128.8
Sep-07130.4133.3128.7
Oct-07130133.3128.1
Nov-07130132.2128.7
Dec-07129.2130.5128.4
Jan-08128.1127.5128.2
Feb-08127126.8126.9
Mar-08125.9126.1125.6
Apr-08124.8126.1124.1
May-08123.5126.2122.1
Jun-08122.3124.9120.9
Jul-08121.6123.4120.5
Aug-08120.3121.7119.5
Sep-08118.8117.5119.1
Oct-08116.2113.4117.2
Nov-08114.1110.2115.7
Dec-08111.9108113.5
Jan-09109105110.8
Feb-09106100.3108.5
Mar-09103.296.6106.3
Apr-09100.992.9104.6
May-0998.590.9102.1
Jun-0996.989.8100.2
Jul-0995.588.998.5
Aug-0994.38996.6
Sep-0994.288.696.8
Oct-0993.186.696.2
Nov-0992.88596.4
Dec-0991.583.295.5
Jan-1090.681.195.2
Feb-108979.193.7
Mar-1087.57792.8
Apr-108776.392.5
May-1085.475.890.1
Jun-108575.190
Jul-1084.874.790
Aug-1084.375.188.8
Sep-1083.375.486.6
Oct-1081.774.384.7
Nov-108072.883
Dec-1078.671.281.8
Jan-1178.270.181.9
Feb-1176.868.880.5
Mar-1174.867.278.2
Apr-1173.866.876.8
May-1172.765.875.6
Jun-1171.565.573.7
Jul-1170.764.872.7
Aug-1169.463.671.5
Sep-1167.961.870.4
Oct-116760.769.6
Nov-1165.659.368.4
Dec-1164.158.166.5
Jan-1262.656.964.8
Feb-1261.255.363.5
Mar-1261.655.663.9
Apr-1260.555.262.2
May-1260.555.262.2
Jun-1260.555.561.9
Jul-126156.861.7
Aug-1260.957.461
Sep-1261.45861.2
Oct-1261.458.560.9
Nov-1261.358.760.4
Dec-1261.759.460.4
Jan-1360.858.859.3
Feb-1360.25859
Mar-1359.758.257.6
Apr-1359.858.956.9
May-1359.859.556.2
Jun-1361.561.857.1
Jul-1363.364.357.7
Aug-1364.465.958
Sep-1365.56759.1
Oct-1365.867.459.2
Nov-1366.26859
Dec-1367.26959.9
Jan-1466.96959.5
Feb-1466.86959.3
Mar-1467.369.959.2
Apr-1468.771.760.1
May-1470.573.861.1
Jun-147377.261.9
Jul-1475.580.563
Aug-1476.981.764.4
Sep-1478.483.465.6
Oct-1479.283.867
Nov-1479.383.667.5
Dec-1478.782.667.7
Jan-1578.482.867.8
Feb-1577.882.667.2
Mar-1577.682.667.3
Apr-1577.782.567.8
May-1578.482.869
Jun-1579.583.870
Jul-1580.184.170.9
Aug-1581.18571.9
Sep-1581.785.272.8
Oct-1582.786.273.8
Nov-1582.686.473.5
Dec-1582.385.873.6
Jan-1682.886.673.7
Feb-168285.673.4
Mar-1681.985.573.5
Apr-1682.285.873.8
May-1682.685.674.8
Jun-1683.48676.1
Jul-1685.487.578.6
Aug-1686.688.879.5
Sep-1687.990.380.6
Oct-1688.690.981.3

In the year to October, residential property prices at national level increased by 7.1%. This compares with an increase of 7.6% in the year to September and an increase of 4.4% in the twelve months to October 2015.

In Dublin, residential property prices increased by 5.5% in the year to October. Dublin house prices increased 6.1%. Whereas Dublin apartments increased 4.1% in the same period. The highest house price growth was in Dublin City, at 7.5%. In contrast, the lowest growth was in Fingal, with house prices rising just 3.4%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 10.2% higher in the year to October. House prices in the Rest of Ireland increased 10.3% over the period. The Midland region showed the greatest price growth, with house prices increasing 16.6%.  Conversely, the Mid-East region showed the least price growth, with house prices increasing 6.1%. Apartment prices in the Rest of Ireland increased 9.3% in the same period.

Overall Decline

Overall, the national index is 32.4% lower than its highest level in 2007. Dublin residential property prices are 32.7% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 37.1% lower than their May 2007 peak.

Recovery

From the trough in early 2013, prices nationally have increased by 48.4%. In the same period, Dublin residential property prices have increased 64.7% whilst residential property prices in the Rest of Ireland are 44.7% higher.

Table 2 - Residential Property Price Index (Base Jan 2005=100)
Price IndexAugust 2016September 2016October 20161 month % change3 month % changeAnnual % change
National - all residential properties86.687.988.60.83.77.1
National - houses90.391.892.50.83.97.7
National - apartments72.372.873.51.02.96.1
       
Dublin - all residential properties88.890.390.90.73.95.5
Dublin - houses94.696.397.00.74.26.1
Dublin - apartments78.178.779.30.82.64.1
Dublin City - houses97.999.5100.91.44.77.5
Dún Laoghaire-Rathdown - houses93.494.895.81.14.25.3
Fingal - houses85.686.186.20.10.23.4
South Dublin - houses92.894.194.50.42.35.6
       
National excluding Dublin - all residential properties79.580.681.30.93.410.2
National excluding Dublin - houses82.083.183.80.83.510.3
National excluding Dublin - apartments55.555.056.22.22.69.3
Border excluding Louth - houses65.066.266.70.83.16.9
Midland houses78.480.383.03.45.716.6
West - houses75.276.277.51.74.613.0
Mid-East including Louth - houses86.487.389.22.24.66.1
Mid-West including South Tipperary - houses79.480.179.7-0.53.19.9
South-East excluding South Tipperary - houses71.572.974.92.78.613.7
South-West - houses91.393.293.30.12.611.7

 

Note

Because the RPPI is based on Revenue stamp duty returns, which have a 44 day submission deadline, only a fraction of the two most recent months’ residential property transactions are available for index compilation the following month. This means that the RPPI for the latest two months is provisional and subject to revision. See background notes.

 

The Statbank Tables are available here

 

 

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