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Property price in Ireland continues to rise

Property price in Ireland

Strong annual property price growth continues in Ireland as prices increased by 7.1% in the 12 months to November 2018 on a national basis, latest official data shows

Property prices in Ireland increased by 7.1% in the 12 months to November 2018 on a national basis, but the annual growth was lower in Dublin, the latest official figures show.

Overall annual price growth is still strong, but down from the 8.4% recorded in the year to October and 11.2% in the 12 months to November 2017, according to the data published by the Central Statistics Office.

In Dublin property prices rose by 5% with house prices up 4.6% and apartments by 6.5%. The highest house price growth in Dublin was in Dún Laoghaire-Rathdown at 6.8%, while the lowest growth was in Fingal at 3.9%.

Prices in the rest of Ireland, excluding Dublin, were 9.3% higher with house prices up by 8.8% and apartments by 14.5%. The region outside of Dublin that saw the largest rise in property prices was the Mid-West at 20.7%, while the smallest rise was recorded in the Border region at 6.1%.

The national index is still 18% lower than its highest level in 2007. In Dublin prices are 20.8% lower than their February 2007 peak, while residential property prices in the rest of Ireland are 22.6% lower than their May 2007 peak.

Property prices nationally have increased by 83% from their trough in early 2013. Dublin prices have risen 96.1% from their February 2012 low, whilst property prices in the rest of Ireland are 78.1% higher than at the trough, which was in May 2013.

The median price of a home is now €245,000 nationally. The Dublin region had the highest median price at €365,000 with Dún Laoghaire-Rathdown at the top end with €535,000 while Fingal had the lowest median price at €325,000. The highest median prices outside Dublin were in Wicklow at €315,500 and Kildare at €290,000, while the lowest were €96,000 in Longford and €100,000 in Leitrim.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of Precise Investors. The information provided on Precise Investors is intended for informational purposes only. Precise Investors is not liable for any financial losses incurred. Conduct your own research by contacting financial experts before making any investment decisions.

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