HOUSE PRICES NATIONALLY have increased by close to 157% from their low point in early 2013, according to the Central Statistics Office.

The CSO today published its Residential Property Price Index (RPPI) for October.

The RPPI measures the change in the average level of prices paid by households for residential properties and excludes non-household purchases, non-market purchases and self-builds.

It revealed that property prices nationally have increased by 156.9% from their trough in early 2013, while Dublin house prices have risen by 156.2% from their February 2012 low.

Meanwhile, house prices nationally are 15.2% higher when compared to the peak of the property boom in April 2007, with Dublin prices 3.4% higher than its February 2007 high.

Annual changes

Elsewhere, the cost of a home nationally increased by 9.7% in the 12 months to October, down from an increase of 9.9% in the year to September and 10.1% in the year to August.

The median, or mid-point, cost of a house nationally in the year to October was €350,000.

In Dublin, residential property prices saw an increase of 10.4%, while property prices outside Dublin were 9.2% higher in October when compared with a year earlier.

However, the border counties of Cavan, Donegal, Leitrim, Monaghan and Sligo saw the largest increase in house prices, up 14.4% in the year to October.

On the other end of the scale, the Mid-East (Kildare, Louth, Meath and Wicklow) saw a 7.5% rise in house prices.

The lowest median price paid for a home was €179,000 in Leitrim, while the highest was €645,000 in Dún Laoghaire-Rathdown.

Meanwhile, the most expensive Eircode area over the year to October 2024 was ‘Dublin 6′ with a median price of €725,000, while H23 ‘Clones’ had the least expensive price of €118,500.

Social Democrats TD and the party’s housing spokesperson Cian O’Callaghan the median price of a home means that “a generation continues to be locked out of homeownership”.

“When the outgoing government took office in June 2020, the median price for a home in Ireland was €260,000,” said O’Callaghan.

“Since then, the price of a home has increased by a staggering €90,000.”

He added: “This explains why there are over half a million adults stuck in their childhood bedrooms, and almost 15,000 people – including more than 4,600 children – living in emergency homeless accommodation.”

O’Callaghan called on the next government to “ensure there is a radical reset of housing policy to make owning a home of your own more than just a pipedream”.

Elsewhere, Brokers Ireland said the new government “must prioritise increasing supply over any other issue in the housing market”.

It noted a Housing Commission report which estimated that the housing deficit in Ireland stands at around 256,000.

Rachel McGovern, Deputy Chief Executive at Brokers Ireland said “we’re very far from building what’s needed”.

She warned that if the economy turns, “we could find ourselves looking back and regretting not fixing the many impediments to building homes while the economy was booming”.