Residential Property Price Index February 2020

Volume and Value

In February, 2,983 household dwelling purchases were filed with Revenue. This represents a 0.9% decrease compared to the 3,011 purchases in February 2019, and a 19.2% decrease compared with the 3,691 purchases in January 2020. The total value of transactions filed in February was €884 million.

New and Existing Dwellings

Existing dwellings accounted for 2,519 (84.4%) of the dwelling purchases filed in February, an increase of 1.0% compared to February 2019. The balance of 464 (15.6%) were new dwellings, a decrease of 10.1% compared to February 2019 (See Figure 2.1).

Buyer Type

In the year to February, 45,340 household dwelling purchases were filed with Revenue. Of these, 14,509 (32%) were purchases by first-time buyer owner-occupiers, while former owner-occupiers purchased 23,989 (52.9%). The balance of 6,842 (15.1%) were acquired by non-occupiers (see Figure 2.2).

Revenue data shows that there were 960 first-time buyer purchases in February 2020, an increase of 5.8% on the 907 recorded in February 2019. These purchases were made up of 243 new dwellings and 717 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 February 2020.

The Dublin region had the highest median price (€370,000) in the year to February. Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price (€525,000), while South Dublin had the lowest (€346,000).

The highest median prices outside Dublin were in Wicklow (€325,368) and Kildare (€310,000), while the lowest price was €104,250 in Leitrim (See Figure 2.3).

Mean Price

Households paid a mean price of €296,309 for a dwelling on the residential property market in the 12 months to February 2020.

The mean price in Dublin (€438,008) was the highest in any region or county. Dún Laoghaire-Rathdown had the highest mean price in the Dublin region at €599,534, while South Dublin had the lowest at €362,302.

Outside of Dublin, the Mid-East was the most expensive region, with a mean price of €304,264. Wicklow was the most expensive county in the Mid-East region, with a mean price of €363,455.

The Border region was the least expensive region in the year to February 2020, with a mean price of €145,687. Leitrim (in the Border region) was the least expensive county, with a mean price of €117,512. (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