Residential Property Price Index August 2018

Volume and Value

In the month of August, 3,944 household market residential dwelling purchases were filed with the Revenue Commissioners. This represents a 1.7% decrease compared to August 2017, when 4,011 purchases were filed, and a decrease of 3.9% compared to July 2018, when 4,104 purchases were filed. The total value of the market based on transactions filed in August was €1.2 billion.

New and Existing Dwellings

Of the 3,944 household market dwelling purchases filed with the Revenue Commissioners in August 737 (18.7%) were for new dwellings and 3,207 (81.3%) were for existing dwellings. Compared to August 2017, the volume of new dwelling purchases increased by 20.4% and the volume of existing dwelling purchases decreased by 5.6% (See Figure 2.1).

Median Price

In the 12 months to August, the median price paid by households for a dwelling on the residential property market was €240,000.

Dublin was the region with the highest median price (€363,000) in the year to August. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown had the highest median price (€525,000). Dublin City had the second highest median price (€360,000). Whereas, the lowest median price was found in Fingal (€322,661).

Outside Dublin, the region with the highest median price was the Mid-East (€265,000). The Mid-East contained the three counties with the highest median prices outside of Dublin; Wicklow (€310,000), Kildare (€287,250) and Meath (€262,999).

The Border was the region with the lowest median price for a dwelling (€120,000). County Leitrim had the lowest median price in the Border region and the second lowest median price in the state (€95,000). The county with the lowest median price in the state was Longford (€90,800), located in the Midland region.

Mean Price

In the 12 months to August, the mean market price paid by households for a dwelling was €285,761.

In the year to August, the mean price paid by households was higher in Dublin than in any other region or county. The mean price paid for a dwelling in Dublin was €442,596. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown was the most expensive, with a mean price of €605,037 over the 12-month period. In contrast, South Dublin was the least expensive, with a mean price of €355,983.

After Dublin, the next most expensive region was the Mid-East, where the mean price paid by households was €286,487. Within the Mid-East, County Wicklow was most expensive, with a mean price of €355,494, making it the second most expensive county after Dublin.

The least expensive region for household purchases over the last 12 months was the Border region, with a mean price of €132,483. However, the least expensive county was Longford in the Midland region, with a mean price of €104,218 (see Figure 2.4).

Note 

Neither median nor mean prices are appropriate for measuring the evolution of property prices as the mix of houses sold in different periods can change over time. The Residential Property Price Index is the definitive measure of property price trends.

The StatBank Tables are available here