Housing News

Residential Property Prices Increase 5.5% in Past Year

The Central Statistics Office (CSO) have published their findings and research on the changes in house prices over the past 12 months, showing an increase in residential property prices.

According to the CSO, residential property prices, which included houses and apartments, increased by 5.5% nationally in the year to May. This compares to an increase of 4.6% in the year to April and an increase of 0.3% in the twelve months to May 2020.

In Dublin, residential property prices saw an increase of 4.9% in the year to May, while property prices outside Dublin were 6.2% higher.

In Dublin, house prices increased by 5.6% and apartment prices increased by 1.8%. The highest house price growth in Dublin was in South Dublin at 6.6%, while Fingal saw a rise of 4.3%.

Outside Dublin, house prices were up by 5.7% and apartment prices up by 14%. The region outside of Dublin that saw the largest rise in house prices was the Border at 10.7% – at the other end of the scale, the South West saw a 1.1% rise.

Overall, the national index is 13.5% lower than its highest level in 2007. Dublin residential property prices are 18.8% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 16% lower than their May 2007 peak.

Property prices nationally have increased by 92.9% from their trough in early 2013. Dublin residential property prices have risen 101.2% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 93.2% higher than at the trough, which was in May 2013.

Source: Central Statistics Office

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