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Property prices continue to rise but rate of increase is slowing

New data from the CSO on property prices was published today.

THE PRICE OF housing is continuing to rise but the rate of increase is slowing, according to new data from the Central Statistics Office (CSO).

House prices rose by 7.8% in the 12 months up to December 2022, compared to an 8.5% hike in the year to November 2022.

Housing prices went up by 14.2% in the 12 months to December 2021.

In the past year, property prices in Dublin rose by 6% and prices outside Dublin went up by 9.3%.

The price of an apartment in Dublin went up by 5.4% last year, while the price of a house there increased by 6.1%.

Elsewhere, house prices increased up by 9.6% and apartment prices rose by 5.3%. The region outside of Dublin that saw the largest rise in house prices was the west – Galway, Mayo and Roscommon – at 14.9%. The south east – Carlow, Kilkenny, Waterford and Wexford – saw the smallest rise at 6.7%.

In December 2022, 5,213 dwelling purchases by households at market prices were filed with the Revenue Commissioners – an increase of 0.8% compared to December 2021.

The median price of a residential property purchased in 2022 was €305,000. The lowest median price for a house in the 12 months to December 2022 was €152,000 in Longford, while the highest median price was €625,000 in Dún Laoghaire-Rathdown.

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