Property prices increase by over 16% in some regions in the country - CSO

Property prices in some parts of the country rose by over 16% in the past year, latest figures from the Central Statistics Office (CSO) show. 

The national Residential Property Price Index (RPPI) increased by 14.4% in the 12 months to May 2022, with prices in Dublin rising by 11.7% and prices outside Dublin up by 16.6%

In May 2022, 3,731 dwelling purchases by households at market prices were filed with the Revenue, an increase of 16.3% compared to the 3,207 purchases in May 2021

The median price of a dwelling purchased in the 12 months to May 2022 was €290,000

The lowest median price for a house in the 12 months to May 2022 was €138,000 in Longford, while the highest median price was €601,000 in Dún Laoghaire-Rathdown.

Commenting on the release, Viacheslav Voronovich, Statistician, said: "Residential property prices rose by 14.4% in the 12 months to May 2022, marginally down from 14.5% in the year to April 2022. In Dublin, residential property prices saw an increase of 11.7%, while property prices outside Dublin were 16.6% higher than a year earlier".

In Dublin, house prices increased by 11.9% and apartment prices by 11.3%.

The highest house price growth in Dublin was in Dublin City at 14.1%, while Dún Laoghaire-Rathdown saw a rise of 9.2%.

Outside Dublin, house prices were up by 16.8% and apartment prices rose by 14.0%.

The region outside of Dublin that saw the largest rise in house prices was the South-East at 21.5%, while at the other end of the scale, house prices in the Mid-West increased by 11.4%.

Existing dwellings accounted for 3,079 (82.5%) of the dwelling purchases filed with the Revenue Commissioners in May 2022, the balance of 652 (17.5%) were new dwellings.