Property prices in Ireland continue upward with an annual rise of 8.4%


Residential property prices in Ireland increased by 8.4% nationally in the 12 months to October 2018, the latest official figures show.

This compares with an increase of 8.5% in the year to September and an increase of 11.7% in the 12 months to October 2017, according to the data from the Central Statistics Office.

In Dublin prices rose by 6.3% with house prices up by 6.6% and apartment prices up by 5.7%. The highest house price growth in Dublin was in Dún Laoghaire-Rathdown at 8.2%, while the lowest growth was in South Dublin at 5%.

In the rest of Ireland, excluding Dublin, prices were up by 10.6% with house prices up by 10.3% and apartment prices up by 14.5%. The region outside of Dublin that saw the largest rise in property prices was the Mid-West at 21.5%, while the smallest was recorded in the Mid-East at 8.3%.

Overall, the national index is 17.6% lower than its highest level in 2007. Dublin prices are 20.1% lower than their February 2007 peak, while prices in the rest of Ireland are 22.7% lower than their May 2007 peak.

Property prices nationally have increased by 83.8% from their trough in early 2013. Dublin prices have risen 98% from their February 2012 low, whilst residential property prices in the rest of Ireland are 77.9% higher than at the trough, which was in May 2013.

The median price paid in the 12 months to October 2018 was €244,999, the figures also show.

Buyers in the Dublin region paid the highest median price at €365,000 and Dún Laoghaire-Rathdown had the highest median price at €534,999, while Fingal and South Dublin shared the lowest at €325,000.

The highest median prices outside Dublin were in Wicklow at €315,000 and Kildare at €290,000, while the lowest were €97,250 in Leitrim and €100,000 in Longford.



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