Residential Property Price Index December 2017

Volume and Value

In the month of December, there were 4,344 household market residential dwelling purchases filed with the Revenue Commissioners. This represents an 11.2% increase compared to December 2016, when 3,907 purchases were filed, and an increase of 2.8% compared to November 2017, when 4,224 purchases were filed. The total value of the market based on transactions filed in December was €1,219.4 million.

New and Existing Dwellings

Of the 4,344 household market dwelling purchases filed with the Revenue Commissioners in December, 897 (20.2%) were for new dwellings and 3,465 (79.8%) were for existing dwellings. Compared to December 2016, the volume of new dwelling purchases increased by 40.9% and the volume of existing dwelling purchases increased by 5.5% (See Figure 2.1).

Median Price

In the 12 months to December, the median price paid by households for a dwelling on the residential property market was €225,000.

Dublin was the region with the highest median price (€349,250) in the year to December. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown had the highest median price (€520,000). Whereas, Fingal had the lowest median price (€312,500).

Outside Dublin, the highest median prices were in Wicklow (€303,000) and Kildare (€270,000).

The lowest median price for a dwelling was in Longford (€85,125). Roscommon and Leitrim share the second lowest median price (€90,000) (See Figure 2.3).

Mean Price

In the 12 months to December, the mean market price paid by households for a dwelling was €272,061.

In the year to December, 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 €426,992. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown was the most expensive, with a mean price of €597,098 over the 12 month period. In contrast, South Dublin was the least expensive, with a mean price of €353,629.

After Dublin, the next most expensive region was the Mid-East, where the mean price paid by households was €272,488. Within the Mid-East, Co. Wicklow was most expensive, with a mean price of €341,500, making it the second most expensive county after Co. Dublin.

The least expensive region for household purchases over the last 12 months was the Border region, with a mean price of €130,055. However, the least expensive county was Co. Longford in the Midland region, with a mean price of €98,858 (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