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Property prices rise by 12.5% nationally

The west region showed the greatest price growth, with house prices increasing by 17.2% in the year to January.

File Image: House prices set to rise by 8% during 2018 END Source: Eamonn Farrell/RollingNews.ie

IN THE YEAR to January, residential property prices increased by 12.5% nationally.

This compares with an increase of 12.2% in the year to December and an increase of 8.8% in the 12 months to January 2017, according to figures released by the Central Statistics Office (CSO) today.

In Dublin, residential property prices increased by 12.1% in the year to December.

House prices in the capital increased by 11.4%, while the cost of apartments increased 15% in the same period. The highest house price growth was in Fingal, at 14.2%. In contrast, the lowest growth was in Dún Laoghaire-Rathdown, where house prices increased 9%.

West and southeast 

Residential property prices outside Dublin were 13% higher in the year to January. House prices nationally (excluding the capital) increased by 13.5% over the same period.

The west region showed the greatest price growth, with house prices increasing by 17.2%. The southeast region showed the least price growth, with house prices increasing 9.9%. Apartment prices outside Dublin increased 9.9% in the same period.

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chart Source: CSO

Overall, the national index is 22.3% lower than its highest level in 2007. Dublin residential property prices are 23.6% lower than their February 2007 peak, while residential property prices outside the capital are 28% lower than their May 2007 peak.

From their lowest point in early 2013, prices nationally have increased by 73.4%. Dublin residential property prices have increased 89.2% from their February 2012 low, while residential property prices in the rest of Ireland are 65.7% higher than their lowest point, which was in May 2013.

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Órla Ryan

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