Residential property prices rise by 3.9% in the year to March
Residential property prices increased by 3.9% nationally in the year to March. This compares with an increase of 4.3% in the year to February and an increase of 12.6% in the twelve months to March 2018.
In Dublin, residential property prices rose by 1.2% in the year to March, with house prices rising by 0.7% and apartments by 2.5%. The highest house price growth in Dublin was in South Dublin at 3.4%, while the lowest growth was in Dun Laoghaire-Rathdown at 0.4%.
Residential property prices in Ireland excluding Dublin were 6.8% higher in the year to March, with house prices up by 6.7% and apartments by 8.6%. The region outside of Dublin that saw the largest rise in property prices was the Mid-West at 11.9%, while the smallest rise was recorded in the Mid-East at 1.6%.
Overall Decline
Overall, the national index is 18.6% lower than its highest level in 2007. Dublin residential property prices are 22.3% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 22.3% lower than their May 2007 peak.
Recovery
Property prices nationally have increased by 81.6% from their trough in early 2013. Dublin residential property prices have risen 92.5% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 78.8% higher than at the trough, which was in May 2013.
