The national Residential Property Price Index (RPPI) increased by 2.9% in the 12 months to November 2023, with prices in Dublin rising by 0.9% and prices outside Dublin up by 4.4%.
In November 2023, 4,618 dwelling purchases by households at market prices were filed with the Revenue Commissioners, down by 5.8% when compared with the 4,901 purchases in November 2022.
The median price of a dwelling purchased in the 12 months to November 2023 was €325,000.
The lowest median price for a dwelling in the 12 months to November 2023 was €161,000 in Longford, while the highest median price was €622,000 in Dún Laoghaire-Rathdown.
The national index has now reached the value of 173.2, which is 5.9% above its highest level at the peak of the property boom in April 2007. Dublin residential property prices are 5.1% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 6.6% higher than their May 2007 peak.
Property prices nationally have increased by 136.1% from their trough in early 2013. Dublin residential property prices have risen by 135% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 145.3% 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 (24 January 2024) released Residential Property Price Index (RPPI) November 2023.
Commenting on the release, Niall Corkery, Statistician in the Prices Division, said: “Residential property prices rose by 2.9% in the 12 months to November 2023, up from 2.2% in the year to October 2023. In Dublin, residential property prices saw an increase of 0.9%, while property prices outside Dublin were 4.4% higher in November 2023 than a year earlier.
Property Prices by Type and Region
In the 12 months to November 2023, house prices in Dublin rose by 1% while apartment prices rose by 0.6%. The highest house price growth in Dublin was in Fingal at 2.5% while Dún Laoghaire-Rathdown saw a decline of 0.1%.
Outside Dublin, house prices were up by 4.2% and apartment prices rose by 7.2%. The region outside of Dublin that saw the largest rise in house prices was the Mid-West (Clare, Limerick, and Tipperary) at 7.4%, while at the other end of the scale, the Midlands (Laois, Longford, Offaly, and Westmeath) and the Mid-East (Kildare, Louth, Meath, and Wicklow) both saw a 3.3% rise.
In November 2023, 4,618 dwelling purchases by households at market prices were filed with the Revenue Commissioners, a decrease of 5.8% when compared with the 4,901 purchases in November 2022.
Households paid a median or mid-point price of €325,000 for a residential property in the 12 months to November 2023. The lowest median price paid for a dwelling was €161,000 in Longford, while the highest was €622,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the 12 months to November 2023 was A94 'Blackrock' with a median price of €725,000, while F45 'Castlerea' had the least expensive price of €135,000.” 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.