RESIDENTIAL PROPERTY PRICES increased by 5% in the 12 months to February.

However, that’s the lowest rate of annual growth in 22 months, when an increase of 4.5% was recorded nationally in April 2021.

That’s according to the CSO’s Residential Property Price Index for February 2023.

The 5% increase in the 12 months to February is also down on the 6.1% annual increase that was recorded in the year to January 2023.

The latest figures are considerably down on the high values of 15.1% in the 12 months to February and March 2022.

Property types

In Dublin, residential property prices saw a 3.2% increase in the 12 months to February 2023.

House prices in Dublin increased by 3%, while apartment prices went up 4%.

The highest house prices growth in Dublin was seen in South Dublin at 9.3%.

However, in Dublin City there was a decrease in house prices of 0.5%, making it the only place where there was a decrease in prices.

The residential property price increase outside of Dublin was 6.4%.

House prices were up 6.6% while apartment prices were up 3.3%.

In the border region, house prices increase 9% in the 12 months to February 2023, while the Mid-West (Clare, Limerick, and Tipperary) saw a 4.9% increase.

House prices

The median price of a house purchased in the 12 months to February 2023 was €310,000, with the lowest median price being found in Longford at €152,000.

The highest median price was €630,000 in Dún Laoghaire-Rathdown.

Meanwhile, the most expensive Eircode area in the 12 months to February 2023 was A94 ‘Blackrock’ with a median price of €755,000.

F35 ‘Ballyhaunis’ and F45 ‘Castlerea’ shared the least expensive price of €130,000.