Residential Property Price Index November 2020

Volume and Value

In November, 4,236 household dwelling purchases at market prices were filed with Revenue. This represents a 6.1% increase compared to the 3,991 purchases in November 2019, and a 10.2% increase compared with the 3,845 purchases in October 2020. The total value of transactions filed in November was €1.3 billion.

New and Existing Dwellings

Existing dwellings accounted for 3,456 (81.6%) of the dwelling purchases filed in November, an increase of 10.7% compared to November 2019. The balance of 780 (18.4%) were new dwellings, a decrease of 10.1% compared to November 2019 (See Figure 3.1).

Buyer Type

In the year to November, 37,413 household dwelling purchases were filed with Revenue. Of these, 12,447 (33.3%) were purchases by first time buyer owner-occupiers, while former owner-occupiers purchased 19,658 (52.5%). The balance of 5,308 (14.2%) were acquired by non-occupiers (see Figure 3.2).

Revenue data shows that there were 1438 first-time buyer purchases in November 2020, an increase of 6.1% on the 1,355 recorded in November 2019. These purchases were made up of 410 new dwellings and 1028 existing dwellings.

Median Price

Households paid a median price of €258,000 for a dwelling on the residential property market in the 12 months to November 2020.

The Dublin region had the highest median price (€377,500) in the year to November. Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price (€530,000), while South Dublin had the lowest (€350,000).

The highest median prices outside of Dublin were in Wicklow (€340,000) and Kildare (€319,000), while the lowest price was €108,000 in Longford (See Figure 3.3).

Mean Price

Households paid a mean price of €294,229 for a dwelling on the residential property market in the 12 months to November 2020.

The mean price in Dublin (€442,555) was the highest in any region or county. Dún Laoghaire-Rathdown had the highest mean price in the Dublin region at €597,562, while South Dublin had the lowest at €364,592.

Outside of Dublin, the Mid-East was the most expensive region, with a mean price of €309,803. Wicklow was the most expensive county, with a mean price of €379,419.

The Border region was the least expensive region in the year to November 2020, with a mean price of €147,044. Longford (in the Midland region) was the least expensive county, with a mean price of €123,342. (see figure 3.4).

 

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.

 

For further Information see tables on PxStat

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