Double digit annual price growth continues in Ireland, values reach two year high

Property prices in Ireland increased nationally by 12.8% in September 2017 year on year, up from the 11.8% annual growth recorded in the previous month, official data shows.

The figures from the Central Statistics Office (CSO) also show that in Dublin annual price growth was 12.2% and in the rest of Ireland it was 13.2%. Prices have not hit a two year high.

A breakdown of the figures shows that apartment prices in Dublin increased by 11.4% and houses by 12.4%. The highest house price growth was in Dublin City at 13.9% and the lowest was in Dun Laoghaire-Rathdown at 9.9%.

Elsewhere apartment prices increased by 15.5% and house prices by 12.8%. Strongest price growth was in the West with a rise of 16.5% and the lowest growth was 9.8% in the Mid West.

Overall, the national index is 23.7% lower than its highest level in 2007. In Dublin the index is 24.5% lower than the February 2007 peak, while in the rest of Ireland it is 29.9% lower than the May 2007 peak.

From the trough in early 2013, prices nationally have increased by 70.2%. In the same period, Dublin residential property prices have increased 87% whilst residential property prices in the rest of Ireland are 61.4% higher.

In the 12 months to September, the median price paid was €219,999. Dublin was the region with the highest median price at €340,000 and of the four administrative areas of Dublin, Dún Laoghaire-Rathdown had the highest median price at €510,000 and Fingal the lowest median price at€305,000.

Outside Dublin, the highest median prices were in Wicklow at €295,000 and Kildare at €265,000 while the lowest median prices were in Longford at €76,000 and Roscommon at €85,000.