Property prices rise by 10.4% in July – CSO

Property prices rise by 10.4% in July – CSO

Residential property prices posted their slowest annual growth rate in over a year in July, rising 10.4% compared with a three-year high of 13.3% in April.

The latest figures from the Central Statistics Office also showed that residental property prices outside of Dublin continued to increase at a faster pace than in the city.

Prices for a home outside of Dublin rose by 13.7% higher in the year to July, while they increased by 7.2% in Dublin.

Today's figures show that house prices in the Rest of Ireland increased 13.1% in the year to July, while apartment prices jumped by 18.7%.

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 there up 6%.

Meanwhile Dublin house prices increased by 6.5% in the year to July, while Dublin apartment prices were up 11%.

The highest house price growth was seen in Dún Laoghaire-Rathdown at 9.8%, while the lowest growth was recorded in South Dublin, where house prices increased 5.2%.

According to the CSO, prices nationally have increased by 81.3% from the trough in early 2013.

Dublin residential property prices have increased 93.8% from their February 2012 low, while residential property prices in the Rest of Ireland are 76.9% higher than the trough in May 2013.

In the 12 months to July, the CSO said the median price paid for a home on the residential property market was €240,000.

Buying a house can be stressful, however we are here to help. Tallaght Solicitors are specialists in all matters regarding house sales, and you can visit our House Sales, Purchases & Tenancies page here.

Source: RTE