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Residential Property Price Index December 2016

CSO statistical publication, 10 February 2017, 11am

On-line ISSN: 2009-5236
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Residential Property Prices rise by 8.1% in the year to December

 

Table 1: Residential Property Price Index
MonthPrice Index (Jan 2005=100)Monthly % change Annual % change
October 201688.30.56.8
November 2016 89.41.28.2
December 2016 89.0-0.48.1
The latest two month's RPPI results are provisional and subject to revision.
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-1688.390.681.1
Nov-1689.491.582.2
Dec-168990.782.4

In the year to December, residential property prices at national level increased by 8.1%. This compares with an increase of 8.2% in the year to November and an increase of 4.6% in the twelve months to December 2015.

In Dublin, residential property prices increased by 5.7% in the year to December. Dublin house prices increased 5.8%. Whereas apartments increased 7.9% in the same period. The highest house price growth was in South Dublin, at 9.7%. In contrast, the lowest growth was in Fingal, with house prices rising just 3.2%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 12.0% higher in the year to December. House prices in the Rest of Ireland increased 12.1% over the period. The West region showed the greatest price growth, with house prices increasing 17.8%.  Conversely, the Mid-East region showed the least price growth, with house prices increasing 7.6%. Apartment prices in the Rest of Ireland increased 9.5% in the same period.

 

Overall Decline

Overall, the national index is 32.1% lower than its highest level in 2007. Dublin residential property prices are 32.8% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 36.3% lower than their May 2007 peak.

Recovery

From the trough in early 2013, prices nationally have increased by 49.1%. In the same period, Dublin residential property prices have increased 64.3% whilst residential property prices in the Rest of Ireland are 46.6% higher.

 

Table 2: Residential Property Price Index Breakdown (Base Jan 2005=100)
Price IndexOctober 2016November 2016 December 2016 1 month % change3 month % changeAnnual % change
National - all residential properties88.389.489.0-0.41.38.1
National - houses92.193.293.0-0.21.48.3
National - apartments73.474.473.7-0.91.08.5
       
Dublin - all residential properties90.691.590.7-0.90.45.7
Dublin - houses96.697.596.9-0.60.65.8
Dublin - apartments79.380.578.8-2.1-0.47.9
Dublin City - houses100.2101.4100.7-0.71.26.6
Dún Laoghaire-Rathdown - houses95.997.298.00.83.55.8
Fingal - houses86.286.986.3-0.70.33.2
South Dublin - houses94.295.397.32.13.69.7
       
National excluding Dublin - all residential properties81.182.282.40.22.212.0
National excluding Dublin - houses83.684.885.00.22.312.1
National excluding Dublin - apartments55.155.956.40.92.79.5
Border excluding Louth - houses66.668.068.50.73.68.9
Midland - houses81.381.582.81.63.412.0
West - houses77.679.682.23.37.717.8
Mid-East including Louth - houses89.089.890.40.73.47.6
Mid-West including South Tipperary - houses80.182.482.0-0.52.410.8
South-East excluding South Tipperary - houses74.775.376.41.54.815.4
South-West - houses93.595.495.40.02.413.3
The latest two month's RPPI results are provisional and subject to revision.

 

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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