Residential Property Prices Rise by 13.0% in Year to April
In the year to April, residential property prices at national level increased by 13.0%, according to the latest CSO figures. This compares with an increase of 12.6% in the year to March and an increase of 9.5% in the twelve months to April 2017.
In Dublin, residential property prices increased by 12.5% in the year to April. Dublin house prices increased 11.7%. Apartments in Dublin increased 15.9% in the same period. The highest house price growth was in Dublin City, at 14.9%. In contrast, the lowest growth was in South Dublin, where house prices increased 6.9%.
Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 13.6% higher in the year to April. House prices in the Rest of Ireland increased 12.9% over the period. The Mid-West region showed the greatest price growth, with house prices increasing 18.7%. The Border region showed the least price growth, with house prices increasing 9.3%. Apartment prices in the Rest of Ireland increased 17.8% in the same period.
Overall Decline
Overall, the national index is 21.1% lower than its highest level in 2007. Dublin residential property prices are 23.3% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 26.1% lower than their May 2007 peak.
Recovery
From the trough in early 2013, prices nationally have increased by 76.0%. Dublin residential property prices have increased 90.1% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 69.9% higher than the trough, which was in May 2013.
