Table 2.1: Household market transactions filed with Revenue | ||||
Month | Volume | Value (million) | Median Price | Mean Price |
May 2018 | 3,543 | €993.3 | €237,000 | €280,362 |
June 2018 | 3,349 | €976.5 | €250,000 | €291,573 |
July 2018 | 4,104 | €1,206.7 | €250,000 | €294,036 |
Volume and Value
In the month of July, 4,104 household market residential dwelling purchases were filed with the Revenue Commissioners. This represents a 5.8% increase compared to July 2017, when 3,878 purchases were filed, and an increase of 22.5% compared to June 2018, when 3,349 purchases were filed. The total value of the market based on transactions filed in July was €1.2 billion.
New and Existing Dwellings
Of the 4,104 household market dwelling purchases filed with the Revenue Commissioners in July 814 (19.8%) were for new dwellings and 3,290 (80.2%) were for existing dwellings. Compared to July 2017, the volume of new dwelling purchases increased by 30.4% and the volume of existing dwelling purchases increased by 1.1% (See Figure 2.1).
X-axis label | New | Existing |
---|---|---|
Jan-10 | 372 | 610 |
Feb-10 | 449 | 824 |
Mar-10 | 602 | 1005 |
Apr-10 | 538 | 955 |
May-10 | 577 | 1146 |
Jun-10 | 537 | 1190 |
Jul-10 | 526 | 1362 |
Aug-10 | 535 | 1418 |
Sep-10 | 516 | 1382 |
Oct-10 | 419 | 1153 |
Nov-10 | 519 | 1219 |
Dec-10 | 411 | 1037 |
Jan-11 | 350 | 1026 |
Feb-11 | 358 | 876 |
Mar-11 | 351 | 987 |
Apr-11 | 254 | 854 |
May-11 | 322 | 991 |
Jun-11 | 335 | 1040 |
Jul-11 | 275 | 1200 |
Aug-11 | 239 | 1140 |
Sep-11 | 291 | 1298 |
Oct-11 | 225 | 1152 |
Nov-11 | 230 | 1361 |
Dec-11 | 234 | 1422 |
Jan-12 | 247 | 1163 |
Feb-12 | 210 | 1072 |
Mar-12 | 224 | 1077 |
Apr-12 | 159 | 1007 |
May-12 | 237 | 1305 |
Jun-12 | 227 | 1216 |
Jul-12 | 263 | 1626 |
Aug-12 | 227 | 1674 |
Sep-12 | 221 | 1465 |
Oct-12 | 260 | 1717 |
Nov-12 | 475 | 2631 |
Dec-12 | 269 | 1708 |
Jan-13 | 359 | 1988 |
Feb-13 | 180 | 1168 |
Mar-13 | 219 | 1170 |
Apr-13 | 195 | 1359 |
May-13 | 256 | 1532 |
Jun-13 | 201 | 1465 |
Jul-13 | 282 | 2090 |
Aug-13 | 261 | 1971 |
Sep-13 | 267 | 1961 |
Oct-13 | 275 | 2179 |
Nov-13 | 306 | 2246 |
Dec-13 | 405 | 2233 |
Jan-14 | 371 | 2385 |
Feb-14 | 255 | 1575 |
Mar-14 | 283 | 1928 |
Apr-14 | 311 | 1941 |
May-14 | 333 | 2159 |
Jun-14 | 330 | 2172 |
Jul-14 | 416 | 2884 |
Aug-14 | 313 | 2592 |
Sep-14 | 417 | 3045 |
Oct-14 | 371 | 3033 |
Nov-14 | 414 | 2719 |
Dec-14 | 538 | 3632 |
Jan-15 | 526 | 3671 |
Feb-15 | 346 | 2668 |
Mar-15 | 379 | 2785 |
Apr-15 | 367 | 2467 |
May-15 | 364 | 2493 |
Jun-15 | 391 | 2605 |
Jul-15 | 450 | 3300 |
Aug-15 | 364 | 2913 |
Sep-15 | 374 | 3208 |
Oct-15 | 406 | 3096 |
Nov-15 | 381 | 3042 |
Dec-15 | 483 | 3359 |
Jan-16 | 392 | 2745 |
Feb-16 | 341 | 2580 |
Mar-16 | 331 | 2519 |
Apr-16 | 422 | 2489 |
May-16 | 423 | 2667 |
Jun-16 | 471 | 2706 |
Jul-16 | 488 | 2966 |
Aug-16 | 474 | 3077 |
Sep-16 | 464 | 3180 |
Oct-16 | 466 | 3070 |
Nov-16 | 621 | 3351 |
Dec-16 | 624 | 3283 |
Jan-17 | 497 | 2940 |
Feb-17 | 440 | 2470 |
Mar-17 | 478 | 2824 |
Apr- 17 | 486 | 2302 |
May-17 | 639 | 2817 |
Jun-17 | 562 | 2879 |
Jul-17 | 624 | 3254 |
Aug-17 | 612 | 3399 |
Sep-17 | 638 | 3027 |
Oct-17 | 656 | 3250 |
Nov-17 | 731 | 3493 |
Dec-17 | 879 | 3465 |
Jan-18 | 683 | 2900 |
Feb-18 | 555 | 2547 |
March-18 | 633 | 2524 |
Apr-18 | 660 | 2510 |
May-18 | 709 | 2834 |
June-18 | 679 | 2670 |
July-18 | 814 | 3290 |
Buyer Type
In the 12 months to July, there were 44,158 household market dwelling purchases filed with the Revenue Commissioners. Of these, 13,048 (29.5%) were purchases by first-time buyer owner-occupiers; 22,799 (51.6%) were purchases by former owner-occupiers; 8,311 (18.8%) were purchases by non-occupiers (see Figure 2.2).
In July, 1,277 first-time buyer purchases were filed with Revenue. This is an increase of 12.6% compared to July 2017 and an increase of 28.1% compared to June 2018. These purchases comprised 380 new dwellings and 897 existing dwellings.
Buyer Type | |
29.5%First-Time Buyer | 13048 |
51.6%Former Owner-Occupier | 22799 |
18.8%Non-Occupier | 8311 |
Median Price
In the 12 months to July, 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 (€360,000) in the year to July. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown had the highest median price (€527,000). Dublin City had the second highest median price (€360,000). Whereas, the lowest median prices were found in Fingal and South Dublin, both of which had median prices of €320,000.
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 (€311,000), Kildare (€285,000) and Meath (€260,000).
The Border was the region with the lowest median price for a dwelling (€118,000). County Leitrim had the lowest median price in the Border region and the second lowest median price in the state (€99,312). The county with the lowest median price in the state was Longford (€92,250), located in the Midland region. (See Figure 2.3).
Mean Price
In the 12 months to July, the mean market price paid by households for a dwelling was €284,261.
In the year to July, 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 €440,820. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown was the most expensive, with a mean price of €603,146 over the 12-month period. In contrast, South Dublin was the least expensive, with a mean price of €354,952.
After Dublin, the next most expensive region was the Mid-East, where the mean price paid by households was €285,585. Within the Mid-East, County Wicklow was most expensive, with a mean price of €355,519, 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 €131,671. However, the least expensive county was Longford in the Midland region, with a mean price of €105,123 (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
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