Residential property prices rise by 10.5% in the year to April in Ireland

In the year to April, residential property prices at national level increased by 10.5%, according to the Central Statistical Office figures. This compares with an increase of 9.6% in the year to March and an increase of 5.8% in the twelve months to April 2016.

In Dublin, residential property prices increased by 8.2% in the year to April. Dublin house prices increased 8.1%. Whereas apartments increased 8.6% in the same period. The highest house price growth was in Dublin City, at 11.1%. In contrast, the lowest growth was in Fingal, with house prices rising just 2.3%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 13.4% higher in the year to April. House prices in the Rest of Ireland increased 13.4% over the period. The West region showed the greatest price growth, with house prices increasing 17.8%.  The Midland region showed the least price growth, with house prices increasing 9.3%. Apartment prices in the Rest of Ireland increased 16.3% in the same period.

Overall Decline

Overall, the national index is 30.7% lower than its highest level in 2007. Dublin residential property prices are 31.3% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 35.3% lower than their May 2007 peak.

Recovery

From the trough in early 2013, prices nationally have increased by 52.1%. In the same period, Dublin residential property prices have increased 68.1% whilst residential property prices in the Rest of Ireland are 48.9% higher.

Source : Central Statistical Office

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