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Residential Property Price Index March 2017

CSO statistical publication, 12 May 2017, 11am

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Residential Property Prices rise by 9.6% in the year to March

Table 1.1: Residential Property Price Index
MonthPrice Index (Jan 2005=100)Monthly % change Annual % change
January 201789.30.77.9
February 201789.70.49.4
March 201789.80.19.6
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-1689.391.681.9
Dec-1688.790.881.5
Jan-1789.391.482.2
Feb-1789.79282.4
Mar-1789.892.582.2

In the year to March, residential property prices at national level increased by 9.6%. This compares with an increase of 9.4% in the year to February and an increase of 5.5% in the twelve months to March 2016.

In Dublin, residential property prices increased by 8.2% in the year to March. Dublin house prices increased 8.0%. Whereas apartments increased 9.6% in the same period. The highest house price growth was in Dublin City, at 10.7%. In contrast, the lowest growth was in Fingal, with house prices rising just 2.2%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 11.8% higher in the year to March. House prices in the Rest of Ireland increased 11.3% over the period. The South-East region showed the greatest price growth, with house prices increasing 15.5%. The Mid-East region showed the least price growth, with house prices increasing 9.2%. Apartment prices in the Rest of Ireland increased 16.4% in the same period. 

Overall Decline

Overall, the national index is 31.5% lower than its highest level in 2007. Dublin residential property prices are 31.5% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 36.4% lower than their May 2007 peak.

Recovery

From the trough in early 2013, prices nationally have increased by 50.4%. In the same period, Dublin residential property prices have increased 67.6% whilst residential property prices in the Rest of Ireland are 46.3% higher.

Price Indexannual % change
National - all residential properties9.6
National - houses9.5
National - apartments10.7
Dublin - all residential properties8.2
Dublin - houses8
Dublin - apartments9.6
Dublin City - houses10.7
Dun Laoghaire-Rathdown - houses6.9
Fingal - houses2.2
South Dublin - houses8.7
National excluding Dublin - all residential properties11.8
National excluding Dublin - houses11.3
National excluding Dublin - apartments16.4
Border excluding Louth - houses14.1
Midland - houses13.2
West - houses15.3
Mid-East including Louth - houses9.2
Mid-West including South Tipperary - houses10.1
South-East excluding South Tipperary - houses15.5
South-West - houses11.8
Show Table: Residential Property Price Index Breakdown(Base Jan 2005=100)

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

Go to next chapter >>> Additional Indicators