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Residential property prices rise by 10.4% in the year to July



Table 1.1: Residential Property Price Index Month Price Index (Jan 2005=100) Monthly % change Annual % change May 2018 104.3 0.7 12.4 June 2018 105.3 1.0 11.9 July 2018 106.4 1.0 10.4 The latest two month's RPPI results are provisional and subject to revision.

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Month National Dublin Rest of Ireland Jan-05 100 100 100 Feb-05 100.8 102.1 100.1 Mar-05 101.4 102.9 100.5 Apr-05 102.1 103.6 101.2 May-05 102.8 104.4 101.9 Jun-05 103.7 104.5 103.3 Jul-05 105.3 105.7 105.1 Aug-05 107.1 107.8 106.7 Sep-05 108.2 109.7 107.4 Oct-05 110.6 112.8 109.3 Nov-05 111.5 114.3 110 Dec-05 112.6 114.9 111.4 Jan-06 113.2 115.4 111.9 Feb-06 113.5 116.4 111.8 Mar-06 114.1 117.1 112.4 Apr-06 115.8 119.2 113.9 May-06 118.2 122.3 115.8 Jun-06 120.3 125.5 117.4 Jul-06 123 129.5 119.5 Aug-06 125.8 133.3 121.6 Sep-06 126.8 133.5 123.1 Oct-06 127.6 134.4 123.8 Nov-06 127.6 133.9 124.1 Dec-06 128.6 134.1 125.5 Jan-07 129.7 134.3 127.1 Feb-07 130.3 135 127.7 Mar-07 130.5 133.7 128.6 Apr-07 131 134 129.2 May-07 130.6 132.7 129.3 Jun-07 130.3 133 128.7 Jul-07 130.6 133.7 128.8 Aug-07 130.4 133 128.8 Sep-07 130.4 133.3 128.7 Oct-07 130 133.3 128.1 Nov-07 130 132.2 128.7 Dec-07 129.2 130.5 128.4 Jan-08 128.1 127.5 128.2 Feb-08 127 126.8 126.9 Mar-08 125.9 126.1 125.6 Apr-08 124.8 126.1 124.1 May-08 123.5 126.2 122.1 Jun-08 122.3 124.9 120.9 Jul-08 121.6 123.4 120.5 Aug-08 120.3 121.7 119.5 Sep-08 118.8 117.5 119.1 Oct-08 116.2 113.4 117.2 Nov-08 114.1 110.2 115.7 Dec-08 111.9 108 113.5 Jan-09 109 105 110.8 Feb-09 106 100.3 108.5 Mar-09 103.2 96.6 106.3 Apr-09 100.9 92.9 104.6 May-09 98.5 90.9 102.1 Jun-09 96.9 89.8 100.2 Jul-09 95.5 88.9 98.5 Aug-09 94.3 89 96.6 Sep-09 94.2 88.6 96.8 Oct-09 93.1 86.6 96.2 Nov-09 92.8 85 96.4 Dec-09 91.5 83.2 95.5 Jan-10 90.6 81.1 95.2 Feb-10 89.2 79.2 94.1 Mar-10 88.1 77.5 93.6 Apr-10 87.6 77.3 92.8 May-10 86.1 76.5 90.7 Jun-10 85.1 75.5 89.9 Jul-10 84.2 75 88.8 Aug-10 84 75.4 87.9 Sep-10 83 75.2 86.2 Oct-10 81.6 74 84.6 Nov-10 79.9 72.5 82.9 Dec-10 78.7 71.2 81.8 Jan-11 78 70.5 81.3 Feb-11 76.5 69 79.8 Mar-11 74.7 67.1 78.1 Apr-11 73.7 66.6 76.6 May-11 72.4 65.5 75.2 Jun-11 71.3 64.6 74.1 Jul-11 69.8 63.6 72.2 Aug-11 68 62.3 70 Sep-11 66.6 60.6 68.9 Oct-11 65.4 59.4 67.7 Nov-11 64.3 58.1 66.9 Dec-11 63.3 57 66.1 Jan-12 62.3 56 65.1 Feb-12 60.9 54.5 63.9 Mar-12 61.2 54.9 64.1 Apr-12 60.2 54.7 62.4 May-12 60 54.7 62 Jun-12 59.9 55 61.5 Jul-12 60.5 56.1 61.5 Aug-12 60.6 56.8 61 Sep-12 61.1 57.5 61.2 Oct-12 61.3 58 61.1 Nov-12 61.1 58.4 60.3 Dec-12 61.3 59.1 60 Jan-13 60.2 58.6 58.3 Feb-13 59.5 57.6 58.1 Mar-13 58.7 57.2 56.8 Apr-13 59 57.9 56.7 May-13 59 58.3 56.2 Jun-13 60.5 60.4 56.9 Jul-13 62 62.6 57.4 Aug-13 62.8 64.2 57.5 Sep-13 63.8 65.3 58.3 Oct-13 64.2 65.7 58.7 Nov-13 64.5 66.5 58.4 Dec-13 65.3 67.3 59.1 Jan-14 65.4 67.6 58.9 Feb-14 65.6 68 59.1 Mar-14 66.1 69 58.9 Apr-14 67.5 71 59.5 May-14 69.3 73.6 60.5 Jun-14 71.3 76.6 61.2 Jul-14 73.5 79.7 62.3 Aug-14 74.9 81.5 63.3 Sep-14 76.5 83.5 64.4 Oct-14 77.3 84 65.5 Nov-14 77.6 83.8 66.3 Dec-14 77 82.6 66.4 Jan-15 77.3 83 66.6 Feb-15 77 82.6 66.5 Mar-15 77.3 82.5 67 Apr-15 77.9 82.6 68.1 May-15 78.8 83.2 69.2 Jun-15 80.1 84.3 70.5 Jul-15 80.7 84.7 71.2 Aug-15 81.7 85.6 72.2 Sep-15 82 85.5 72.8 Oct-15 82.9 86.6 73.5 Nov-15 82.6 86.2 73.4 Dec-15 82.5 85.8 73.5 Jan-16 83.2 87 73.8 Feb-16 82.7 86.4 73.5 Mar-16 83 86.6 73.8 Apr-16 83.5 87.1 74.2 May-16 83.7 86.8 74.7 Jun-16 84.5 87 76.1 Jul-16 86.4 88.1 78.5 Aug-16 87.6 89.4 79.5 Sep-16 88.6 90.8 80.1 Oct-16 89.1 91 80.7 Nov-16 90.2 92.1 81.9 Dec-16 89.9 91.5 81.7 Jan-17 90.5 92 82.4 Feb-17 90.7 92.2 82.7 Mar-17 91.1 92.8 82.8 Apr-17 91.4 92.1 84.1 May-17 92.8 94.5 84.4 June-17 94.1 96.3 85.1 July-17 96.4 98.5 87.4 Aug-17 97.9 99.9 88.8 Sept-17 99.2 101 90.2 Oct-17 99.5 101.5 90.4 Nov-17 100.3 101.8 91.6 Dec-17 100.8 102.2 92.1 Jan-18 101.2 102.8 92.4 Feb-18 102 103.7 92.9 Mar-18 102.6 103.7 94.1 Apr-18 103.6 104.1 95.7 May-18 104.3 104.8 96.2 June-18 105.3 104.9 98 July-18 106.4 105.6 99.4

In the year to July, residential property prices at national level increased by 10.4%. This compares with an increase of 11.9% in the year to June and an increase of 11.6% in the twelve months to July 2017.

In Dublin, residential property prices increased by 7.2% in the year to July. Dublin house prices increased 6.5%. Apartments in Dublin increased 11.0% in the same period. The highest house price growth was in Dún Laoghaire-Rathdown, at 9.8%. In contrast, the lowest growth was in South Dublin, where house prices increased 5.2%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 13.7% higher in the year to July. House prices in the Rest of Ireland increased 13.1% over the period. The Mid-West region showed the greatest price growth, with house prices increasing 23.7%. The Border region showed the least price growth, with house prices increasing 6.0%. Apartment prices in the Rest of Ireland increased 18.7% in the same period.

Overall Decline

Overall, the national index is 18.8% 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 23.1% lower than their May 2007 peak.

Recovery

From the trough in early 2013, prices nationally have increased by 81.3%. Dublin residential property prices have increased 93.8% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 76.9% higher than the trough, which was in May 2013.

normal

Price Index annual percentage change National - all residential properties 10.4 National - houses 10 National - apartments 14.2 Dublin - all residential properties 7.2 Dublin - houses 6.5 Dublin - apartments 11 Dublin City - houses 9.2 Dun Laoghaire-Rathdown - houses 9.8 Fingal - houses 7.3 South Dublin - houses 5.2 National excluding Dublin - all residential properties 13.7 National excluding Dublin - houses 13.1 National excluding Dublin - apartments 18.7 Border - houses 6 Midland - houses 11.8 West - houses 15.3 Mid-East - houses 12.7 Mid-West - houses 23.7 South-East - houses 11.1 South-West - houses 12.8

Note that due to data smoothing, aggregate index annual percentage changes may be greater or less than their component sub-indices, see here for more information.

Show Table : Residential Property Price Index Breakdown(Base Jan 2005=100) Table 1.2: Residential Property Price Index Breakdown (Base Jan 2005=100) Price Index May 2018 June 2018 July 2018 1 month % change 3 month % change Annual % change National - all residential properties 104.3 105.3 106.4 1.0 2.7 10.4 National - houses 107.3 108.4 109.6 1.1 2.7 10.0 National - apartments 86.9 87.7 88.4 0.8 2.7 14.2 Dublin - all residential properties 104.8 104.9 105.6 0.7 1.4 7.2 Dublin - houses 110.1 109.9 110.7 0.7 1.1 6.5 Dublin - apartments 88.9 89.6 90.1 0.6 2.6 11.0 Dublin City - houses 113.7 113.4 113.8 0.4 0.5 9.2 Dún Laoghaire-Rathdown - houses 111.3 111.3 112.7 1.3 2.3 9.8 Fingal - houses 103.1 103.1 102.4 -0.7 -1.0 7.3 South Dublin - houses 107.1 107.4 108.3 0.8 1.4 5.2 National excluding Dublin - all residential properties 96.2 98.0 99.4 1.4 3.9 13.7 National excluding Dublin - houses 97.4 99.4 100.9 1.5 4.1 13.1 National excluding Dublin - apartments 74.9 75.7 76.8 1.5 3.1 18.7 Border - houses 69.3 70.0 71.2 1.7 -0.1 6.0 Midland - houses 87.1 88.0 89.1 1.3 2.2 11.8 West - houses 91.6 92.7 94.1 1.5 3.4 15.3 Mid-East - houses 110.7 112.0 112.4 0.4 2.2 12.7 Mid-West - houses 88.5 91.1 93.5 2.6 8.2 23.7 South-East - houses 92.8 93.3 94.1 0.9 -0.1 11.1 South-West - houses 105.3 107.5 109.5 1.9 5.9 12.8 The latest two month's RPPI results are provisional and subject to revision. Open in Excel: Residential Property Price Index July 2018 Table 1.2 (XLS 10KB)

Note

Because the RPPI is based on Revenue stamp duty returns, which have a 44 day submission deadline, only a fraction of the two most recent months’ residential property transactions are available for index compilation the following month. This means that the RPPI for the latest two months is provisional and subject to revision. See background notes.

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