Residential Property Price Index June 2017

Revisions to the Additional Indicators The Additional Indicators have been revised back to January 2010. The revisions principally affect the new dwelling series (but have consequential effects on the overall dwelling series). The revisions result from increasing the scope of the additional indictor statistics to include additional categories of new dwellings. More details can be found here

Volume and Value

In the month of June, there were 3,441 household market residential dwelling purchases filed with the Revenue Commissioners. This represents an 8.3% increase compared to June 2016, when 3,177 purchases were filed, and a decrease of 0.4% compared to May 2017, when 3,456 purchases were filed. The total value of the market based on transactions filed in June was €916.0 million.

New and Existing Dwellings

Of the 3,441 household market dwelling purchases filed with the Revenue Commissioners in June, 562 (16.3%) were for new dwellings and 2,879 (83.7%) were for existing dwellings. Compared to June 2016, the volume of new dwelling purchases increased by 19.3% and the volume of existing dwelling purchases increased by 6.4% (See Figure 2.1).

Average Price

In the 12 months to June, the average market price paid by households for a dwelling was €258,544.

In the year to June, the average price paid by households was higher in Dublin than in any other region or county. The average price paid for a dwelling in Dublin was €410,890. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown was the most expensive, with an average price of €580,902 over the 12 month period. In contrast, South Dublin was the least expensive, with an average price of €335,998.

After Dublin, the next most expensive region was the Mid-East, where the average price paid by households was €260,580. Within the Mid-East, Co. Wicklow was most expensive, with an average price of €324,024, making it the second most expensive county after Co. Dublin.

The least expensive region for household purchases over the last 12 months was the Border region, with an average price of €122,091. However, the least expensive county was Co. Longford in the Midland region, with an average price of €93,912 (see Figure 2.3).

Median Price

In the 12 months to June, the median price paid by households for a dwelling on the residential property market was €210,000.

Dublin was the region with the highest median price (€330,316) in the year to June. Of the four administrative areas of Dublin, Dún Laoghaire-Rathdown had the highest median price (€500,000). Whereas, Fingal had the lowest median price (€299,988).

Outside Dublin, the highest median prices were in Wicklow (€285,000) and Kildare (€263,250).

The lowest median prices for a dwelling were in Longford (€75,500) and Roscommon (€82,000) (See Figure 2.4).

Note 

Neither average nor median 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