The national Residential Property Price Index (RPPI) increased by 8.2% in the 12 months to May 2024, with prices in Dublin rising by 8.6% and prices outside Dublin up by 7.8%.
In May 2024, 3,997 dwelling purchases by households at market prices were filed with the Revenue Commissioners, down by 9.9% when compared with the 4,435 purchases in May 2023.
The median price of a dwelling purchased in the 12 months to May 2024 was €335,000.
The lowest median price for a dwelling in the 12 months to May 2024 was €169,500 in Longford, while the highest median price was €626,000 in Dún Laoghaire-Rathdown.
The annual Non-Household Sector chapter of the RPPI release will now be an annual stand-alone release and will be titled 'Residential Property Transactions by Non-Households'. The release containing the information for 2023 is due to be published on Wednesday July 24th at 11am. Please monitor the release calendar for any changes to the release date. The chapter containing the 2022 information can be found in the Non-Household Sector chapter of RPPI January 2023 release.
| Table 1.1: Residential Property Price Index | Base year 2015=100 | |||
| Year | Month | Residential Property Price Index | Percentage Change | |
| Over one month | Over 12 months | |||
| 2023 | May | 165.9 | -0.2 | 2.6 |
| 2024 | February | 177.7 | 0.4 | 6.2 |
| March1 | 178.5 | 0.5 | 7.3 | |
| April1 | 179.3 | 0.4 | 7.9 | |
| May1 | 179.4 | 0.1 | 8.2 | |
| 1The latest three month's RPPI results are provisional and subject to revision. | ||||
The national index has now reached the value of 179.4, which is 9.7% above its highest level at the peak of the property boom in April 2007. Dublin residential property prices are 1.7% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 10.3% higher than their May 2007 peak.
Property prices nationally have increased by 144.5% from their trough in early 2013. Dublin residential property prices have risen by 143.5% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 153.9% 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 July 2024) released Residential Property Price Index (RPPI) May 2024.
Commenting on the release, Niall Corkery, Statistician in the Prices Division, said: “Residential property prices rose by 8.2% in the 12 months to May 2024, up from 7.9% in the year to April 2024. In Dublin, residential property prices saw an increase of 8.6%, while property prices outside Dublin were 7.8% higher in May 2024 when compared with a year earlier.
Property Prices by Type and Region
In the 12 months to May 2024, house prices in Dublin rose by 9.2% while apartment prices increased by 6.6%. The highest house price growth in Dublin was in Dublin City at 10.6% while Dún Laoghaire-Rathdown saw a rise of 7.7%.
Outside Dublin, house prices were up by 7.6% and apartment prices increased by 9.9%. The region outside of Dublin that saw the largest rise in house prices was the Mid-West (Clare, Limerick, and Tipperary) at 11.2%, while at the other end of the scale, the Mid-East (Kildare, Louth, Meath, and Wicklow) saw a 6.0% rise.
In May 2024, 3,997 dwelling purchases by households at market prices were filed with the Revenue Commissioners, a decrease of 9.9% when compared with the 4,435 purchases in May 2023.
Households paid a median or mid-point price of €335,000 for a residential property in the 12 months to May 2024. The lowest median price paid for a dwelling was €169,500 in Longford, while the highest was €626,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to May 2024 was D06 'Dublin 6' with a median price of €740,000, while F45 'Castlerea' had the least expensive price of €137,500.” A table of median prices by Eircode area is available, as is our Interactive App where you can explore the median property price by Eircode area.