Clare, Limerick, and Tipperary see biggest jump in house prices

The most expensive Eircode area over the 12 months to October 2023 was A94/Blackrock in Dublin with a median price of €730,000, while F45/Castlerea in Roscommon was the least expensive at €135,000.

Clare, Limerick, and Tipperary have seen the highest annual increases in house prices at 6.2% while the cost of homes in Dublin has fallen, according to the Central Statistics Office (CSO).

The latest Residential Property Price Index from the CSO shows that residential property prices in Dublin decreased by 0.6%.

However, house prices outside the capital were 4.5% higher in October 2023 than a year earlier.

Apartment prices rose by 5% in the same period.

Overall, residential property prices rose by 2.3% in the 12 months to October 2023, up from 1.4% in the year to September 2023. The region that saw the largest rise in house prices was the Mid-West (Clare, Limerick, and Tipperary) at 6.2%.

At the other end of the scale, the West (Galway, Mayo, and Roscommon) and Mid-East (Kildare, Louth, Meath, and Wicklow) saw a 3.5% rise.

In October, 4,604 dwelling purchases by households at market prices were filed with the Revenue Commissioners, an increase of 7.2% when compared with the 4,296 purchases in October 2022.

The median price of a dwelling purchased in the 12 months to October 2023 was €323,000.

The lowest median price for a house over that period was €160,000 in Longford, while the highest median price was €630,000 in Dún Laoghaire-Rathdown.

The most expensive Eircode area over the 12 months to October 2023 was A94/Blackrock in Dublin with a median price of €730,000, while F45/Castlerea in Roscommon was the least expensive at €135,000.

Building costs

The cost of new builds in the third quarter of 2023 was 10.4% higher than in the same quarter of 2022 while prices of existing dwellings in the third quarter of 2023 were 1% lower than in the corresponding quarter of 2022.

Overall, prices of new dwellings have risen by 113.4% from their trough in the middle of 2013 while prices of existing dwellings are now 129.6% higher than at their trough in 2012.

Association of Irish Mortgage Advisers chair Trevor Grant said the increase in the rate of national house price growth "will be a worry for those wishing to get into the property ladder in 2024".