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Residential Property Price Index May 2018

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CSO statistical publication, , 11am

On-line ISSN: 2009-5236

Residential property prices rise by 12.4% in the year to May

Table 1.1: Residential Property Price Index
MonthPrice Index (Jan 2005=100)Monthly % change Annual % change
March 2018102.60.612.6
April 2018103.71.113.5
May 2018104.30.612.4
The latest two month's RPPI results are provisional and subject to revision.

 

Non-Household Sector

This month’s RRPI publication includes a chapter on the non-household residential property sector. This chapter contains statistics on residential property transactions made by companies and institutions - the figures are broken down by NACE section and registered address of the participating organisations. Further, it contains a breakdown of transactions between and within the household and non-household residential property sectors. See Non-Household Sector                      

MonthNationalDublinRest of Ireland
Jan-05100100100
Feb-05100.8102.1100.1
Mar-05101.4102.9100.5
Apr-05102.1103.6101.2
May-05102.8104.4101.9
Jun-05103.7104.5103.3
Jul-05105.3105.7105.1
Aug-05107.1107.8106.7
Sep-05108.2109.7107.4
Oct-05110.6112.8109.3
Nov-05111.5114.3110
Dec-05112.6114.9111.4
Jan-06113.2115.4111.9
Feb-06113.5116.4111.8
Mar-06114.1117.1112.4
Apr-06115.8119.2113.9
May-06118.2122.3115.8
Jun-06120.3125.5117.4
Jul-06123129.5119.5
Aug-06125.8133.3121.6
Sep-06126.8133.5123.1
Oct-06127.6134.4123.8
Nov-06127.6133.9124.1
Dec-06128.6134.1125.5
Jan-07129.7134.3127.1
Feb-07130.3135127.7
Mar-07130.5133.7128.6
Apr-07131134129.2
May-07130.6132.7129.3
Jun-07130.3133128.7
Jul-07130.6133.7128.8
Aug-07130.4133128.8
Sep-07130.4133.3128.7
Oct-07130133.3128.1
Nov-07130132.2128.7
Dec-07129.2130.5128.4
Jan-08128.1127.5128.2
Feb-08127126.8126.9
Mar-08125.9126.1125.6
Apr-08124.8126.1124.1
May-08123.5126.2122.1
Jun-08122.3124.9120.9
Jul-08121.6123.4120.5
Aug-08120.3121.7119.5
Sep-08118.8117.5119.1
Oct-08116.2113.4117.2
Nov-08114.1110.2115.7
Dec-08111.9108113.5
Jan-09109105110.8
Feb-09106100.3108.5
Mar-09103.296.6106.3
Apr-09100.992.9104.6
May-0998.590.9102.1
Jun-0996.989.8100.2
Jul-0995.588.998.5
Aug-0994.38996.6
Sep-0994.288.696.8
Oct-0993.186.696.2
Nov-0992.88596.4
Dec-0991.583.295.5
Jan-1090.681.195.2
Feb-1089.279.294.1
Mar-1088.177.593.6
Apr-1087.677.392.8
May-1086.176.590.7
Jun-1085.175.589.9
Jul-1084.27588.8
Aug-108475.487.9
Sep-108375.286.2
Oct-1081.67484.6
Nov-1079.972.582.9
Dec-1078.771.281.8
Jan-117870.581.3
Feb-1176.56979.8
Mar-1174.767.178.1
Apr-1173.766.676.6
May-1172.465.575.2
Jun-1171.364.674.1
Jul-1169.863.672.2
Aug-116862.370
Sep-1166.660.668.9
Oct-1165.459.467.7
Nov-1164.358.166.9
Dec-1163.35766.1
Jan-1262.35665.1
Feb-1260.954.563.9
Mar-1261.254.964.1
Apr-1260.254.762.4
May-126054.762
Jun-1259.95561.5
Jul-1260.556.161.5
Aug-1260.656.861
Sep-1261.157.561.2
Oct-1261.35861.1
Nov-1261.158.460.3
Dec-1261.359.160
Jan-1360.258.658.3
Feb-1359.557.658.1
Mar-1358.757.256.8
Apr-135957.956.7
May-135958.356.2
Jun-1360.560.456.9
Jul-136262.657.4
Aug-1362.864.257.5
Sep-1363.865.358.3
Oct-1364.265.758.7
Nov-1364.566.558.4
Dec-1365.367.359.1
Jan-1465.467.658.9
Feb-1465.66859.1
Mar-1466.16958.9
Apr-1467.57159.5
May-1469.373.660.5
Jun-1471.376.661.2
Jul-1473.579.762.3
Aug-1474.981.563.3
Sep-1476.583.564.4
Oct-1477.38465.5
Nov-1477.683.866.3
Dec-147782.666.4
Jan-1577.38366.6
Feb-157782.666.5
Mar-1577.382.567
Apr-1577.982.668.1
May-1578.883.269.2
Jun-1580.184.370.5
Jul-1580.784.771.2
Aug-1581.785.672.2
Sep-158285.572.8
Oct-1582.986.673.5
Nov-1582.686.273.4
Dec-1582.585.873.5
Jan-1683.28773.8
Feb-1682.786.473.5
Mar-168386.673.8
Apr-1683.587.174.2
May-1683.786.874.7
Jun-1684.58776.1
Jul-1686.488.178.5
Aug-1687.689.479.5
Sep-1688.690.880.1
Oct-1689.19180.7
Nov-1690.292.181.9
Dec-1689.991.581.7
Jan-1790.59282.4
Feb-1790.792.282.7
Mar-1791.192.882.8
Apr-1791.492.184.1
May-1792.894.584.4
June-1794.196.385.1
July-1796.498.587.4
Aug-1797.999.988.8
Sept-1799.210190.2
Oct-1799.5101.590.4
Nov-17100.3101.891.6
Dec-17100.8102.292.1
Jan-18101.2102.892.4
Feb-18102103.792.9
Mar-18102.6103.794.1
Apr-18103.7104.195.7
May-18104.3104.696.3

In the year to May, residential property prices at national level increased by 12.4%. This compares with an increase of 13.5% in the year to April and an increase of 10.9% in the twelve months to May 2017.

In Dublin, residential property prices increased by 10.7% in the year to May. Dublin house prices increased 10.3%. Apartments in Dublin increased 13.5% in the same period. The highest house price growth was in Dublin City, at 14.6%. In contrast, the lowest growth was in South Dublin, where house prices increased 6.6%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 14.1% higher in the year to May. House prices in the Rest of Ireland increased 13.7% over the period. The Mid-West region showed the greatest price growth, with house prices increasing 22.1%. The Border region showed the least price growth, with house prices increasing 3.7%. Apartment prices in the Rest of Ireland increased 15.5% in the same period. 

Overall Decline

Overall, the national index is 20.4% lower than its highest level in 2007. Dublin residential property prices are 22.5% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 25.5% lower than their May 2007 peak.

Recovery

From the trough in early 2013, prices nationally have increased by 77.7%. Dublin residential property prices have increased 91.9% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 71.4% higher than the trough, which was in May 2013.

Price Indexannual percentage change
National - all residential properties12.4
National - houses12.1
National - apartments14.9
Dublin - all residential properties10.7
Dublin - houses10.3
Dublin - apartments13.5
Dublin City - houses14.6
Dun Laoghaire-Rathdown - houses10.3
Fingal - houses10.2
South Dublin - houses6.6
National excluding Dublin - all residential properties14.1
National excluding Dublin - houses13.7
National excluding Dublin - apartments15.5
Border - houses3.7
Midland - houses14.4
West - houses17.8
Mid-East - houses12.7
Mid-West - houses22.1
South-East - houses10.9
South-West - houses12.2

Note that due to data smoothing, aggregate index annual percentage changes may be greater or less than their component sub-indices, see here for more information.

Show Table: Residential Property Price Index Breakdown(Base Jan 2005=100)

Note

Because the RPPI is based on Revenue stamp duty returns, which have a 44 day submission deadline, only a fraction of the two most recent months’ residential property transactions are available for index compilation the following month. This means that the RPPI for the latest two months is provisional and subject to revision. See background notes.

The StatBank Tables are available here

Go to next chapter >>> Additional Indicators