A typical home in Ireland is now €200,000 more expensive than it was just over a decade ago, new figures show. The figures released by the Central Statistics Office today show that the Residential Property Prince Index (RPPI) rose by 8.7 per cent in the 12 months to December last year.
Compared to 2013, the typical home nationwide now costs €200,000 more than it did in 2013.
While the median, or mid-point price paid by households across the State for a residential property was €155,000 in 2013, jumping to €259,000 in 2019, the typical price increased to €355,000 last year as a whole.
Prices in Dublin increased by 8.7 per cent in the 12 months to December last year, and prices outside Dublin shot up by 9.0 per cent. In December 2024, 5,177 dwelling purchases by households at market prices were filed with the Revenue Commissioners, up 2.3% when compared with the 5,063 purchases in December 2023.
The lowest median price for a dwelling in the 12 months to December 2024 was €182,250 in Longford, while the highest median price was €660,000 in Dún Laoghaire-Rathdown.
Commenting on the release, Niall Corkery, Statistician in the CSO’s Prices Division, said:
“Residential property prices rose by 8.7% in the 12 months to December 2024, down from 9.6% in the year to November 2024. In Dublin, residential property prices saw an increase of 8.3%, while property prices outside Dublin were 9.0% higher in December 2024 when compared with a year earlier.”
A breakdown of property prices by type and region show that in the 12 months to last December, apartment prices increased by 6.9 per cent. The highest house price growth in Dublin was in Fingal at 10.0% while South Dublin saw a rise of 6.9 per cent.
Outside Dublin, house prices were up by 9.3 per cent and apartment prices rose by 5.8 per cent. The region outside of Dublin that saw the largest growth in house prices was the Border (Cavan, Donegal, Leitrim, Monaghan, and Sligo) at 14.2 per cent, while at the other end of the scale, the Mid-East (Kildare, Louth, Meath, and Wicklow) saw a 5.9 per cent rise.
In December 2024, 5,177 dwelling purchases by households at market prices were filed with the Revenue Commissioners, which was an increase of 2.3 per cent when compared with the 5,063 purchases in December 2023.
The most expensive Eircode area over the 12 months to December 2024 was A94 ‘Blackrock’ with a median price of €730,000, while H23 ‘Clones’ had the least expensive price of €131,000, with the CSO further detailing the median prices by Eircode area.
In 2024, a total of 48,775 dwelling purchases by households at market prices were filed with Revenue, representing a 2.9 per cent decrease compared with 50,234 purchases in 2023.
Dublin residential property prices are now 4.1 per cent higher than their February 2007 peak, while residential property prices in the Rest of Ireland are 18 per cent higher than their May 2007 peak.
Property prices nationally have increased by 160.4 per cent from their trough in early 2013. Dublin residential property prices have risen by 157.8 per cent from their February 2012 low, whilst residential property prices in the Rest of Ireland are 171.5 per cent higher than at the trough, which was in May 2013.