New figures from the Central Statistics Office show that residential property prices grew by 9.6% in the year to July – their highest growth rate in 21 months.
The CSO said the national residential property price index is now 12% above the April 2007 peak of the country’s last property boom.
Today’s CSO figures show that property prices in Dublin were up by 10.3%, with prices outside Dublin rising by 9.1%.
House prices in Dublin grew by 10.9% while apartment prices increased by 8% in the 12 months to July.
The CSO noted that the highest house price growth in Dublin was in South Dublin at 12.1% while Dún Laoghaire-Rathdown saw a rise of 8.3%.
Outside Dublin, house prices increased by 9%, with apartment prices up by 10.6%.
The region outside of Dublin with the biggest hike in house prices was the Mid-West (Clare, Limerick, and Tipperary) at 13.4%, while at the other end of the scale, the South-East (Carlow, Kilkenny, Waterford, and Wexford) saw a 6.1% rise.
Today’s CSO figures show that the median or mid-point price of a home stood at €340,000 in the 12 months to July.
The lowest median price paid for a home was €171,000 in Longford, while the highest was €630,000 in Dún Laoghaire-Rathdown.
Meanwhile, the most expensive Eircode area in July was D06 ‘Dublin 6’ with a median price of €750,000, while F45 ‘Castlerea’ had the least expensive price of €140,000.
The CSO said today that Dublin residential property prices are 0.6% higher than their February 2007 peak, while residential property prices in the rest of the country are 13.3% higher than their May 2007 peak.
Today’s CSO figures also reveal that a total of 4,723 dwelling purchases were filed with Revenue in July, an increase of 13.2% on the 4,174 purchases filed the same time last year.
The total value of transactions filed in July was €1.9 billion.
Existing homes accounted for 75.8% of the dwelling purchases filed in July, an increase of 4.3% compared with the same time last year, with the balance of 24.2% new dwellings, a jump of 53.8% compared with the same time last year.
Article Source – Annual house price growth accelerates to 9.6% in July – CSO – RTE
