Strong and steady property price growth continues in Ireland

Property prices in Ireland increased by 12.7% in the 12 months to March 2018 as a strong and steady upward trend continued, the latest official figures show.

This compares with an increase of 12.5% in the year to February and an increase of 9.8% in the 12 months to March 2017, according to the data from the Central Statistics Office.

In Dublin prices increased by 12.1% year on year with house prices up 11.8% and apartment prices up 13.9%. The highest house price growth was in Dublin City at 14.2% and the lowest growth in South Dublin at 9.6%.

In the Rest of Ireland prices increased by 13.4% on an annual basis with house prices up 13% and apartment prices up 13.4%. The West region showed the greatest price growth with a rise of 18% while the lowest was a rise of 8.8% in the Border region.

Overall, the national index is 21.6% lower than its highest level in 2007. Dublin property prices are 23% lower than their February 2007 peak, while property prices in the rest of Ireland are 27.4% lower than their May 2007 peak.

From the trough in early 2013, prices nationally have increased by 75%. Dublin property prices have increased 90.8% from their February 2012 low, whilst property prices in the rest of Ireland are 67.1% higher than the trough of May 2013.

In the 12 months to March, the median price paid was €231,000. The highest price was €355,000 in Dublin. Outside Dublin the highest median prices were in Wicklow at €310,000 and Kildare at €275,000.

The data also shows that the lowest median prices was in Longford at €90,000 and Leitrim at €93,750.