THE PROPERTY PRICE Index has exceeded its Celtic Tiger peak.

The national Residential Property Price Index (RPPI) reached the value of 164.9 points for July, which is 0.8% above its highest level recorded at the peak of the economic boom in April 2007.

Residential property prices increased by 13% in the year to July, with prices in Dublin rising by 10.4% and prices outside Dublin up by 15.2%.

Commenting on the CSO figures, Viacheslav Voronovich, Statistician in the Prices Division noted that the 13% rise in residential property prices rose in the 12 months to July, is down from 14.% in the year to June.

House price growth

The region that saw the biggest increase in house prices at 19.1% was the West (Galway, Mayo, Roscommon).

The median price of a home purchased in the 12 months to July was €295,000.

The lowest median price paid for a dwelling was €145,000 in Longford, while the highest was €610,000 in Dún Laoghaire-Rathdown.

Meanwhile, the most expensive Eircode area over the last twelve months was A94 ‘Blackrock’, with a median price of €720,000, while H23 ‘Clones’ was the least expensive at €117,500.

In July, 4,443 dwelling purchases were filed with the Revenue Commissioners, an increase of 16.2% on the 3,822 purchases made in in July 2021.