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Laura Hutton via Rolling News
Peyton estate, Rathcoole.
# property price index
Only one Irish county has an average house price under €100,000
The CSO’s property price index shows that house prices have risen sharply in the past year.
THE CENTRAL STATISTICS Office has published its residential property index for May, which shows the average price being paid for a home is €197,699.
As a whole, residential property prices at a national level increased by 11.9% in the 12 months to May.
This compares with an increase of 10% in the 12 months to April and an increase of 5.4% on May 2016.
In Dublin, house prices are up 11.5%, while apartments are up 8% in the same period. The biggest house price growth was in South Dublin, at 12.4%, while the lowest growth was in Fingal, with house prices rising 6.8%.
The biggest annual change in house prices across Ireland is found in the south-east of the country, rising nearly a fifth (18.6%) in the past 12 months.
County breakdown
Across the country, only Longford had an average house price that was under €100,000.
Longford’s average price was €90,502, closely followed by Roscommon with €101,242 and Donegal with €115,147.
The most expensive place by council district was Dun Laoghaire-Rathdown, where the average house cost €564,034.
Outside Dublin, Wicklow had the most expensive house prices in Leinster, with an average price of €317,585.
Cork had the most expensive homes in Munster, with an average of €211,933.
In Ulster, Monaghan had the highest average house price at €132,665.
Since property prices reached their lowest in Ireland in early 2013, the average price of homes in Ireland have increased by 68.1%, according to the CSO.
Dublin residential property prices have increased has increased by 68.1% over this time.
Commenting today, Davy Research said the average mortgage approval to first-time buyers increased by 10.2% in the 12 months to May, to €208,400.
“Looking forward, we expect rising incomes and leverage will continue to drive Irish house prices higher,” a statement by Davy Research said.
“Given that there are now just 21,000 homes listed for sale (around 1% of the housing stock), would-be buyers will almost certainly seek to take out more highly leveraged loans as they compete for homes.”
