Volume and Value

4,285 residential dwelling purchases were filed with Revenue in November by households. This represents a 1.4% increase compared to the 4,224 purchases in November 2017 and a rise of 3.7% compared with the 4,134 purchases in October 2018. The total value of transactions filed in November was €1.2 billion.

New and Existing Dwellings

Existing dwellings accounted for 3,461 or 80.8% of the dwellings purchased in November, a decrease of 0.9% compared to November 2017. The balance of 824 (or 19.2%) were new dwellings, an increase of 12.7% compared to November 2017 (See Figure 2.1).

Buyer Type

There were 44,536 market dwellings purchases filed with Revenue in the year to November. Of these, 13,372 (30.0%) were purchases by first-time buyer owner-occupiers, while former owner-occupiers purchased 23,064 (51.8%). The balance of 8,100 (18.2%) were acquired by non-occupiers (see Figure 2.2).

Revenue data shows that there were 1,340 first-time buyer purchases in November 2018, an increase of 5.8% on the 1,266 recorded in November 2017. These purchases were composed of 433 new dwellings and 907 existing dwellings.

Median Price

Households paid a median price of €245,000 for a dwelling on the residential property market in the year to November 2018.

The Dublin region had the highest median price, €365,000, in the year to November. Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price (€535,000) while Fingal had the lowest (€325,000).

The highest median prices outside Dublin were in Wicklow (€315,500) and Kildare (€290,000), while the lowest were €96,000 in Longford and €100,000 in Leitrim (See Figure 2.3).

Mean Price

Households paid a mean price of €289,361 for a dwelling on the residential property market in the 12 months to November 2018.

The mean price in Dublin, €445,136, was the highest in any region or county. Dún Laoghaire-Rathdown had the highest mean price in the Dublin region at €619,093, while South Dublin had the lowest at €361,804.

Outside of Dublin, the Mid-East was the most expensive region with a mean price of €290,313. Wicklow was the most expensive county in the Mid-East region with a mean price of €358,402 and the second most expensive county in Ireland, after Dublin.

The Border region was the least expensive region in the year to November 2018 with a mean price of €135,972 and Longford (in the Midland region) was the least expensive county with a mean price of €107,392 (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