The national Residential Property Price Index (RPPI) increased by 8.6% in the 12 months to November 2022, with prices in Dublin rising by 7% and prices outside Dublin up by 9.8%.
In November 2022, 4,901 dwelling purchases by households at market prices were filed with the Revenue Commissioners, an increase of 7.3% compared with the 4,566 purchases in November 2021.
The median price of a dwelling purchased in the 12 months to November 2022 was €300,000.
The lowest median price for a house in the 12 months to November 2022 was €150,000 in Longford, while the highest median price was €620,000 in Dún Laoghaire-Rathdown.
The national index has now reached the value of 168.5, which is 3% above its highest level at the peak of the property boom in April 2007. Dublin residential property prices are 5.9% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 2.2% higher than their May 2007 peak.
Property prices nationally have increased by 129.7% from their trough in early 2013. Dublin residential property prices have risen by 133% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 135.2% 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
Commenting on the release, Viacheslav Voronovich, Statistician in the Prices Division, said: “Residential property prices rose by 8.6% in the 12 months to November 2022, down from 9.7% in the year to October 2022. In Dublin, residential property prices saw an increase of 7%, while property prices outside Dublin were 9.8% higher than a year earlier.
In Dublin, house prices increased by 7.1% and apartment prices were up by 6.4%. The highest house price growth in Dublin was in South Dublin at 11%, while Dublin City saw a rise of 5.1%.
Outside Dublin, house prices were up by 10.2% and apartment prices rose by 4.7%. The region outside of Dublin that saw the largest rise in house prices was the West (Galway, Mayo, Roscommon) at 15.6%, while at the other end of the scale, the South-West (Cork, Kerry) saw an 8.1% rise.
In November 2022, 4,901 dwelling purchases by households at market prices were filed with the Revenue Commissioners, an increase of 7.3% compared with the 4,566 purchases in November 2021.
Households paid a median or mid-point price of €300,000 for a residential property in the 12 months to November 2022. The lowest median price paid for a dwelling was €150,000 in Longford, while the highest was €620,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to November 2022 was A94 'Blackrock', with a median price of €745,000, while F35 'Ballyhaunis' was the least expensive at €125,000."