Property prices in Ireland rise by 2% in June: CSO

Property prices in Ireland rise by 2% in June: CSO

Residential property prices rose by 2% in the year to June compared to 2.6% in May, according to the latest figures from the Central Statistics Office (CSO).

In Dublin, house prices were unchanged in the twelve months to June while apartments rose by 0.1%.

South Dublin recorded the highest house price growth in the capital at 3.6% while Dún Laoghaire-Rathdown saw a decline of 4%.

Excluding Dublin, property prices were 3.9% higher in the year to June as house prices rose by 3.6% and apartments by 6.1%.

Outside of Dublin, the largest rise in house prices was found at the Border at 14.7%.

The Mid-East region recorded a decline of 0.1%.

Average house prices

The average price paid by buyers on the residential property market in the 12 months to June 2019 was €292,909.

The capital had the highest average price of any region or county at €441,209.

Within the county, the highest average price was €620,538 in Dún Laoghaire-Rathdown while South Dublin recorded the lowest at €364,363.

Outside of Dublin, the Mid-East was the most expensive region with an average price of €294,021.

Property prices in Ireland rise by 2% in June: CSO

Wicklow was the most expensive county in the region with an average price of €349,547.

The Garden County is the second most expensive county in Ireland after Dublin.

The Border region was the least expensive in the year to April 2019 with an average price of €140,918.

Longford was the least expensive county in Ireland with an average price of €118,688.

Prices by Eircode

The ten most expensive Eircode areas by median price were in Dublin.

In the year to June, Blackrock (A94) had the highest median price for a household dwelling at €610,000.

It is followed by Dublin 6W (D6W) at €595,000 and Dublin 6 (D06) at €592,500.

The least expensive Eircode area in Dublin was Dublin 10 (D10) with a median price of €234,500.

Property prices in Ireland rise by 2% in June: CSO

Outside of Dublin, the most expensive Eircode area was in nearby Greystones, County Wicklow (A63) at €423,722.

It is followed by Dunboyne in County Meath (A86) at €395,000 and Bray, County Wicklow (A98) at €355,000.

Over the past twelve months, the least expensive Eircode area was Clones in County Monaghan (H23) at €66,000.

It is followed by Castlerea, County Roscommon (F45) at €77,750 and Belturbet, County Cavan (H14) at €89,000.

Number of buyers sees slight increase

In June of this year, there were 3,391 household dwelling purchases filed with Revenue.

This is a 1.3% increase compared to June 2018 when there were 3,349 purchases.

However, it is a decrease of 5.7% compared with the 3,598 purchases filed in May 2019.

The total value of transactions filed in June was €971.3m.

Just over 82% (2,783) of the purchases in June were existing dwellings which marks an increase of 4.2% on June 2018.

608 of the purchases (17.9%) were new dwellings which is a decrease of 10.5% compared to June 2018.

In the year to June, 44,695 household dwelling purchases were filed with Revenue.

Of these 13,902 (31.1%) were purchased by first-time buyers owner-occupiers.

Former owner-occupiers purchased 23,339 (52.2%) while non-occupiers accounted for 7,454 (16.7%) of the purchases.

Property prices in Ireland rise by 2% in June: CSO

Overall decline

Overall, the national index is down 18% since its highest level in 2007.

Prices in Dublin are 22.2% lower than their February 2007 peak.

Residential property prices in the rest of the country are 21.3% lower than their May 2007 peak.

National prices have increased 83% from their trough in early 2013 while Dublin prices have risen 92.7% from their low in February 2012.

In the rest of the country, residential property prices are 81.1% higher than at the trough which was in May 2013.

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