The national Residential Property Price Index (RPPI) increased by 12.2% in the 12 months to August 2022, with prices in Dublin rising by 9.7% and prices outside Dublin up by 14.2%.
In August 2022, 4,295 dwelling purchases by households at market prices were filed with the Revenue Commissioners, an increase of 14.1% compared with the 3,764 purchases in August 2021.
The median price of a dwelling purchased in the 12 months to August 2022 was €295,100.
The lowest median price for a house in the 12 months to August 2022 was €149,500 in Longford, while the highest median price was €615,000 in Dún Laoghaire-Rathdown.
The national index has now reached the value of 167.2, which is 2.2% above its highest level at the peak of the property boom in April 2007. Dublin residential property prices are 6.5% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 1.3% higher than their May 2007 peak.
Property prices nationally have increased by 127.9% from their trough in early 2013. Dublin residential property prices have risen by 131.5% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 133.2% higher than at the trough, which was in May 2013. See Figure 1.3.
RPPI is based on Revenue stamp duty returns, which have a 44 day submission deadline. To account for this fact and also for late filings, the RPPI for the latest three months is provisional and subject to revision. See Background Notes.
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Statistician's Comment
Commenting on the release, Viacheslav Voronovich, Statistician in the Prices Division, said: “Residential property prices rose by 12.2% in the last 12 months, down from 13.3% in the year to July 2022. In Dublin, residential property prices saw an increase of 9.7%, while property prices outside Dublin were 14.2% higher than a year earlier.
In Dublin, house prices increased by 9.9% and apartment prices were up by 8.9%. The highest house price growth in Dublin was in Fingal at 10.6%, while Dún Laoghaire-Rathdown saw a rise of 9.2%.
Outside Dublin, house prices were up by 14.2% and apartment prices rose by 13.1%. The region outside of Dublin that saw the largest rise in house prices was the West (Galway, Mayo, Roscommon) at 19.1%, while at the other end of the scale, the South-West (Cork, Kerry) saw a 10.4% rise.
In August 2022, 4,295 dwelling purchases by households at market prices were filed with the Revenue Commissioners, an increase of 14.1% compared with the 3,764 purchases in August 2021.
Households paid a median or mid-point price of €295,100 for a residential property in the twelve months to August 2022. The lowest median price paid for a dwelling was €149,500 in Longford, while the highest was €615,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the last twelve months was A94 'Blackrock', with a median price of €725,000, while F35 'Ballyhaunis' was the least expensive at €120,000."