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Annual property price growth continues to slow in Ireland

Residential property prices increased by 2% in Ireland in the year to June 2019, down marginally from the 2.6% recorded in May, official data shows.

But the rate of annual growth is now well below the increase of 11.9% in the 12 months to June 2018, the figures published by the Central Statistics Office (CSO).

In Dublin property prices rose by just 0.1% year on year, with house prices unchanged and apartments rising by 0.1%. The highest house price growth in Dublin was in South Dublin at 3.6%, while Dun Laoghaire-Rathdown saw a decline of 4%.

Property prices in the rest of Ireland increased by 3.9% year on year with house prices up by 3.6% and apartments by 6.1%. The region outside of Dublin that saw the largest rise in house prices was the Border at 14.7%, while the Mid-East recorded a decline of 0.1%.

Overall, the national index is 18% lower than its highest level in 2007. Dublin prices are 22.2% lower than their February 2007 peak, in the rest of Ireland they are 21.3% lower than their May 2007 peak.

Property prices nationally have increased by 83% from their trough in early 2013. Dublin prices have risen 92.7% from their February 2012 low, whilst prices in the rest of Ireland are 81.1% higher than at the trough, which was in May 2013.

Households paid a median price of €252,000 in the 12 months to June 2019. The Dublin region had the highest median price of €365,000 with Dún Laoghaire-Rathdown the highest at €537,500 and Fingal the lowest at €335,000.

The highest median prices outside Dublin were in Wicklow at €315,001 and Kildare at €296,000, while the lowest price was €101,250 in Leitrim.