Press Statement

Preasráiteas

15 September 2021

Go to release: Residential Property Price Index July 2021

The Central Statistics Office (CSO) has today (15 September 2021) published the Residential Property Price Index (RPPI) July 2021.

Commenting on the release, Viacheslav Voronovich, Statistician, said: “In the period before COVID-19, the annual growth in residential property prices fell gradually from 13.4% in April 2018 to 0.9% in March 2020. While price growth remained subdued throughout most of 2020, a trend of accelerating growth emerged in the latter part of the year and into 2021. Residential property prices increased by 2.2% annually in December 2020, before price growth rose to 8.6% in July 2021. In Dublin, residential property prices saw an increase of 8.1% in the year to July 2021, while property prices outside Dublin were 9.1% higher.

COVID-19 restrictions impacted on the ability of households to buy dwellings. Households purchased 2,351 dwellings in April 2020, a reduction of 28.9% compared to the same month in 2019. In May 2020, households purchased 1,937 dwellings, a fall of 46.2% and the lowest monthly number of purchases since February 2014. Since the latter part of 2020, the number of dwellings purchased by households have returned to pre-COVID-19 levels. In the first seven months of 2021, there were 24,280 dwellings purchased by households at market prices. This compares to 24,416 for the first seven months of pre-pandemic 2019.

Existing dwellings accounted for 3,221 (84.3%) of the dwelling purchases filed with the Revenue Commissioners in July 2021, the balance of 601 (15.7%) were new dwellings,

Households paid a median price of €267,000 for a dwelling on the residential property market in the 12 months to July 2021. Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price (€560,000), while Fingal had the lowest (€362,125). The highest median prices outside of Dublin were in Wicklow (€370,000) and Kildare (€330,000), while the lowest price was in Longford (€120,000).”

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