Residential property prices rise by 11.6% in the year to June
In the year to June, residential property prices at national level increased by 11.6%. This compares with an increase of 11.1% in the year to May and an increase of 5.5% in the twelve months to June 2016.
In Dublin, residential property prices increased by 11.1% in the year to June. Dublin house prices increased 11.2%. Whereas apartments increased 10.6% in the same period. The highest house price growth was in South Dublin, at 11.8%. In contrast, the lowest growth was in Fingal, with house prices rising 5.4%.
Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 11.8% higher in the year to June. House prices in the Rest of Ireland increased 11.8% over the period. The South-East region showed the greatest price growth, with house prices increasing 16.7%. The Mid-West region showed the least price growth, with house prices increasing 8.4%. Apartment prices in the Rest of Ireland increased 13.4% in the same period.
Overall Decline
Overall, the national index is 29.0% lower than its highest level in 2007. Dublin residential property prices are 29.9% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 34.6% lower than their May 2007 peak.
Recovery
From the trough in early 2013, prices nationally have increased by 58.4%. In the same period, Dublin residential property prices have increased 73.8% whilst residential property prices in the Rest of Ireland are 50.4% higher.
