Ireland continues to see double digit annual property price growth

Residential property prices in Ireland increased by 12% in the 12 months to June 2018 but annual growth is slower in Dublin than the rest of the country, official figures show.

In Dublin prices increased by 9% year on year with house values up by 8.4% and apartments prices up 12.8% in the same period, according to the data published by the Central Statistics Office (CSO).

The highest house price growth was in Dublin City at 12% and the lowest annual growth in prices growth was in South Dublin where they increased by a much lower 5.9%.

Prices in the rest of Ireland were 15.2% higher in the year to June with houses up 14.6% and apartments up by 20.3%. The strongest price growth was 22.3% in the Mid-West region and the weakest a rise of just 4.9% in the Border region.

Overall, the national index is 19.5% lower than its highest level in 2007. Dublin prices are 22.2% lower than their February 2007 peak, while prices in the rest of Ireland are 24.2% lower than their May 2007 peak.

From the trough in early 2013, prices nationally have increased by 79.6%. Dublin residential property prices have increased 92.7% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 74.4% higher than the trough, which was in May 2013.

In the 12 months to June, the median price paid was €237,000. The highest prices are in Dublin at €359,852, with prices in Dún Laoghaire-Rathdown at €525,000. Whereas, Fingal had the lowest median price at €317,059.

Outside of Dublin, the highest median prices were in Wicklow at €310,000 and Kildare at €280,000. The lowest median prices for a dwelling were in Longford at €92,000 and Leitrim at €95,000.