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Residential property prices rise by 1.1% in the year to September

Residential property prices increased by 1.1% nationally in the year to September. This compares with an increase of 2.0% in the year to August and an increase of 8.5% in the twelve months to September 2018.

In Dublin, residential property prices decreased by 1.3% in the year to September – house prices decreased by 1.5% and apartments decreased by 0.2%. The highest house price growth in Dublin was in Fingal at 1.5%, while Dun Laoghaire-Rathdown saw a decline of 6.8%.

Residential property prices in Ireland excluding Dublin were 3.6% higher in the year to September, with house prices up by 3.4% and apartments by 4.8%. The region outside of Dublin that saw the largest rise in house prices was the Border at 11.8%, while the smallest rise was recorded in the Mid-East at 0.2%.

Overall Decline

Overall, the national index is 16.9% lower than its highest level in 2007. Dublin residential property prices are 21.4% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 20.0% lower than their May 2007 peak.

Recovery

Property prices nationally have increased by 85.3% from their trough in early 2013. Dublin residential property prices have risen 94.7% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 84.0% higher than at the trough, which was in May 2013.

CSO reports