The national Residential Property Price Index (RPPI) increased by 3.9% in the 12 months to March 2023, with prices in Dublin rising by 1.7% and prices outside Dublin up by 5.7%.
In March 2023, 4,132 dwelling purchases by households at market prices were filed with the Revenue Commissioners, up by 5.4% compared with the 3,921 purchases in March 2022.
The median price of a dwelling purchased in the 12 months to March 2023 was €310,000.
The lowest median price for a house in the 12 months to March 2023 was €154,000 in Longford, while the highest median price was €635,000 in Dún Laoghaire-Rathdown.
The national index has now reached the value of 166.2, which is 1.6% above its highest level at the peak of the property boom in April 2007. Dublin residential property prices are 8.7% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 2.1% higher than their May 2007 peak.
Property prices nationally have increased by 126.6% from their trough in early 2013. Dublin residential property prices have risen by 126.2% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 134.9% 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
The Central Statistics Office (CSO) has today (17 May 2023) released Residential Property Price Index (RPPI) March 2023.
Commenting on the release, Viacheslav Voronovich, Statistician in the Prices Division, said: “Residential property prices rose by 3.9% in the 12 months to March 2023, down from 5.1% in the year to February 2023, and from the high values of 15.1% in the 12 months to February and March 2022. In Dublin, residential property prices saw an increase of 1.7%, while property prices outside Dublin were 5.7% higher than a year earlier.
In Dublin, house prices increased by 1.6% and apartment prices were up by 2.1%. The highest house price growth in Dublin was in South Dublin at 6.9%, while Dublin City saw a decline of 1.2%.
Outside Dublin, house prices were up by 5.9% and apartment prices rose by 2.6%. The region outside of Dublin that saw the largest rise in house prices was the Border (Cavan, Donegal, Leitrim, Monaghan, Sligo) at 8.4%, while at the other end of the scale, the Mid-West (Clare, Limerick, Tipperary) saw a 2.8% rise.
In March 2023, 4,132 dwelling purchases by households at market prices were filed with the Revenue Commissioners, an increase of 5.4% compared with the 3,921 purchases in March 2022.
Households paid a median or mid-point price of €310,000 for a residential property in the 12 months to March 2023. The lowest median price paid for a dwelling was €154,000 in Longford, while the highest was €635,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to March 2023 was A94 'Blackrock' with a median price of €750,000, while F35 'Ballyhaunis' had the least expensive price of €126,000."