Ireland’s home-price growth slows as Dublin lags behind
Ireland’s home prices rose 5.1 per cent in the year to August, the slowest annual increase since December 2023. Growth outside Dublin remained stronger than in the capital. Households filed 4,279 purchases during the month, including 1,811 by first-time buyers. The latest index figures are provisional, while the median transaction price over twelve months reached 400,000 euros.
Economics & Markets··Night
Annual growth reaches its lowest rate since 2023
Ireland’s residential property prices increased 5.1 per cent in the year to August, down from 5.4 per cent in July. The August reading was the lowest annual rise since December 2023, when growth was 4.1 per cent. The figures released on 13 October cover the country’s residential property market and show slower annual inflation in home prices.[1], [2]
The Central Statistics Office, Ireland’s national statistical agency, measured annual price growth of 3.9 per cent in Dublin and 6.2 per cent outside the capital. Within Dublin, houses rose 3.3 per cent and apartments 5.7 per cent. Elsewhere, house prices increased 6 per cent and apartment prices 8.6 per cent, preserving a stronger annual rise outside the capital.[1]
Regional prices and transaction medians diverge
The Border region of Ireland recorded the strongest house-price growth outside Dublin at 9.1 per cent. The Mid-East and South-West regions each recorded 4.9 per cent growth. Over twelve months, the median price paid by households was 400,000 euros. Dún Laoghaire-Rathdown in the Dublin area had the highest median at 685,000 euros, while Longford in Ireland had the lowest at 199,000 euros.[1]
Households file more than 4,000 August purchases
Households filed 4,279 purchases at market prices with tax authorities in August, compared with 4,174 a year earlier, an increase of 2.5 per cent. The total comprised 3,241 existing homes and 1,038 new homes. Transactions were worth 1.95 billion euros: 1.44 billion euros for existing homes and 506.4 million euros for new homes. First-time buyer purchases numbered 1,811.[1]
The latest three months of index results are provisional and subject to revision. The statistical office uses the property price index to track price changes, since medians and averages can move when the mix of homes sold changes. The index outside Dublin was more than three times its May 2013 low in August. Indices separating new and existing properties are compiled quarterly with transaction volumes determining their frequency.[1]
