Tuesday, October 20, 2020
International

Residential property prices in Ireland increase by 8.4% nationally

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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.

Important:
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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