Residential property prices up by 2.2% in year to December
Residential property prices for houses and apartments increased by 2.2% nationally in the year to December, according to the latest figures from the Central Statistics Office.
This compares to an increase of 0.2% in the year to November and an increase of 0.3% in the twelve months to December 2019.
In Dublin, residential property prices saw an increase of 1.2% in the year to December, while property prices outside Dublin were 3.1% higher.
In Dublin, house prices increased by 0.2% and apartment prices increased by 5.1%. The highest house price growth in Dublin was in South Dublin at 3.2%, while Dublin City saw a decline of 1.8%.
Outside Dublin, house prices were up by 3.1% and apartment prices up by 4.0%. The region outside of Dublin that saw the largest rise in house prices was the South East at 5.3% – at the other end of the scale, the Mid-West saw a 1.9% decline.
Overall, the national index is 16.1% lower than its highest level in 2007. Dublin residential property prices are 21.8% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 18.1% lower than their May 2007 peak.
Property prices nationally have increased by 87% from their trough in early 2013. Dublin residential property prices have risen 93.6% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 88.4% higher than at the trough, which was in May 2013. More