Residential Property Price Index December 2020

Volume and Value

In December, 4,988 household dwelling purchases at market prices were filed with Revenue. This represents a 13.6% increase compared to the 4,391 purchases in December 2019, and a 17.8% increase compared with the 4,236 purchases in November 2020. The total value of transactions filed in December was €1.6 billion.

New and Existing Dwellings

Existing dwellings accounted for 3,907 (78.3%) of the dwelling purchases filed in December, an increase of 15.4% compared to December 2019. The balance of 1,081 (21.7%) were new dwellings, an increase of 7.5% compared to December 2019 (See Figure 3.1).

Buyer Type

In the year to December, 38,010 household dwelling purchases were filed with Revenue. Of these, 12,644 (33.3%) were purchases by first time buyer owner-occupiers, while former owner-occupiers purchased 20,117 (52.9%). The balance of 5,249 (13.8%) were acquired by non-occupiers (see Figure 3.2).

Revenue data shows that there were 1679 first-time buyer purchases in December 2020, an increase of 13.3% on the 1,482 recorded in December 2019. These purchases were made up of 578 new dwellings and 1101 existing dwellings.

Median Price

Households paid a median price of €260,000 for a dwelling on the residential property market in the 12 months to December 2020.

The Dublin region had the highest median price (€380,000) in the year to December. Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price (€532,000), while South Dublin had the lowest (€352,000).

The highest median prices outside of Dublin were in Wicklow (€349,000) and Kildare (€320,000), while the lowest price was €110,000 in Leitrim (See Figure 3.3).

Mean Price

Households paid a mean price of €297,043 for a dwelling on the residential property market in the 12 months to December 2020.

The mean price in Dublin (€445,311) was the highest in any region or county. Dún Laoghaire-Rathdown had the highest mean price in the Dublin region at €598,000, while South Dublin had the lowest at €370,199.

Outside of Dublin, the Mid-East was the most expensive region, with a mean price of €313,273. Wicklow was the most expensive county, with a mean price of €388,608.

The Border region was the least expensive region in the year to December 2020, with a mean price of €148,696. Longford (in the Midland region) was the least expensive county, with a mean price of €123,832. (see figure 3.4).

 

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.

 

For further Information see tables on PxStat

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