Property price growth slows to 10.8% in September – CSO
New figures from the Central Statistics Office show that annual property price growth slowed to a 14-month low in September.
The CSO said that residential property prices eased to 10.8% in September from 11.9% in August and down from a 2022 peak of 15.1% in February.
Prices in Dublin rose by 9.4% and prices outside Dublin up by 11.9%, the CSO said.
In Dublin, house prices increased by 9.8% and apartment prices were up by 7.5%.
The CSO noted that the highest house price growth in Dublin was in South Dublin at 11%, while Dublin City saw a rise of 9.2%.
Outside Dublin, house prices were 12.1% higher, while apartment prices rose by 9.7%.
The region outside of Dublin that saw the largest rise in house prices was the West (Galway, Mayo, Roscommon) at 16.9%. At the other end of the scale, the South-West (Cork, Kerry) saw a 9.5% rise.
On a monthly basis, residential property prices were up 0.8% in September, down from growth of 1.1% in August.
Today’s figures show that households paid a median or mid-point price of €299,500 for a home in the 12 months to September.
The lowest median price paid was reported €148,500 in Longford, while the highest was €615,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the last 12 months was A94 ‘Blackrock’, with a median price of €725,000, while F35 ‘Ballyhaunis’ was the least expensive at €125,000, the CSO added.
The CSO said that property prices nationally have increased by 128.8% from their low point in early 2013.
Dublin residential property prices have risen by 133.9% from their February 2012 low, while residential property prices in the Rest of Ireland are 132.8% higher than at their trough in May 2013.
Meanwhile, today’s figures show that 4,583 home sales were filed with the Revenue Commissioners, an increase of 6.5% compared with the 4,304 purchases the same month last year.
The total value of transactions filed in September was €1.7 billion.
Existing homes accounted for of the purchases filed in September, an increase of 1.8% compared with the same time last year.
17.8% were new dwellings, an increase of 35.4% compared with September 2021, the CSO said.