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THE CENTRAL STATISTICS Office has published its residential property index for May, which shows the average price being paid for a home is €197,699.
As a whole, residential property prices at a national level increased by 11.9% in the 12 months to May.
This compares with an increase of 10% in the 12 months to April and an increase of 5.4% on May 2016.
In Dublin, house prices are up 11.5%, while apartments are up 8% in the same period. The biggest house price growth was in South Dublin, at 12.4%, while the lowest growth was in Fingal, with house prices rising 6.8%.
The biggest annual change in house prices across Ireland is found in the south-east of the country, rising nearly a fifth (18.6%) in the past 12 months.
County breakdown
Across the country, only Longford had an average house price that was under €100,000.
Longford’s average price was €90,502, closely followed by Roscommon with €101,242 and Donegal with €115,147.
The most expensive place by council district was Dun Laoghaire-Rathdown, where the average house cost €564,034.
Outside Dublin, Wicklow had the most expensive house prices in Leinster, with an average price of €317,585.
Cork had the most expensive homes in Munster, with an average of €211,933.
In Ulster, Monaghan had the highest average house price at €132,665.
Since property prices reached their lowest in Ireland in early 2013, the average price of homes in Ireland have increased by 68.1%, according to the CSO.
Dublin residential property prices have increased has increased by 68.1% over this time.
Commenting today, Davy Research said the average mortgage approval to first-time buyers increased by 10.2% in the 12 months to May, to €208,400.
“Looking forward, we expect rising incomes and leverage will continue to drive Irish house prices higher,” a statement by Davy Research said.
“Given that there are now just 21,000 homes listed for sale (around 1% of the housing stock), would-be buyers will almost certainly seek to take out more highly leveraged loans as they compete for homes.”
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Does the author of this article think that leitrim and longford are the same county
As I gazed out of the window
Of this old apartment block
Across the concrete jungle
That’s the City of New York
My thoughts go wandering slowly back
To those lovely woods and streams
That I left behind in Ireland
And Roscommon of my dreams.
You say Longford but according to map, Leitrim is the only one under 100k judging by colours!
Has Longford been given a little coastline to up the prices or has it just changed places with Leitrim?
There’s only one solution: a bullet train from Heuston to Longford
@Fergus Fring: but, but, but that would be forward planning!!! We don’t do that here in Ireland!!!
@Deborah Behan: When the government were warned a housing crisis would come in due to lack of building the public laughed. Comments much the same time as your smartassdom were made how there would be no housing crisis and it was media hype on property.
There is no will from the public to allow planning and they tear it down. Really easy to blame any management for mistakes and take no responsibility. The country has a real post colonial chip on its shoulder about authority.
@Fergus Fring: We don’t even have train to Dublin airport.
You could set your watch to these articles
Looks like I’m moving to Leitford so.
I guessed Longford before I read it ….. because no one admits there from Longford…;)
@windbag: they’re
According to the 2016 census, there was a 3.8% rise in population since 2011. There was no homelessness crisis, no property bubble… The market is being manipulated. There is no way we couldn’t support a 0.75% per annum population increase.
@Richard: CSO gives detail and would make no comment on whether there is a homeless crisis or not. So why would they make any of the statement for or against as you suggest?
its Wickla
I wonder when the new SSIA will be announced
Clearer colour differences could help
That’s very strange , Longford, Roscommon only €100,000 and 3 to 500000 in Dublin, Wicklow, , after all were”er a small country, jobs and wealth equally divided, good infrastructure, I”am amazed!!!!!!!!!!!!!
@conriel: Nobody has ever claimed there is an equal divide. It is also in no way unique to Ireland.
Good value to be had around Carrick on Shannon in Co. Leitrim on a main road, with railway station and popular for partying. What more could you want….
I presume that the average price shown on above map is drawn from a total list of houses sold during the month of May and has little to do with actual house values where other factors determine house prices over services and employment potential. Not to be taken as a literal guide as house prices vary from town to town and from region to region within a county ie, average house price in west Cavan is far lower than in the east of the county which is within commuter distance to Dublin.
There pay is half of what dublin is so that’s why there cheaper.
So the more homophobic & religious a county is, the lower their house prices?
@Conor Byrne: Aye that’s why all we gays are migrating to Donegal…what the hell does homosexuality or religion have to do with anything? I’ve experienced more hatred in several different cities than I ever had out here in the west. In fact, if anything life in the west is far more inclusive. Stop labelling, its boring.
Great if your a property speculator. make as much cash as possible. they can only get you on your last project.
When this goes to shit again anyone caught out should be told tough.
@Eamonn Sheen: that happened already except it was pronounced “Austerity”
Utterly useless exercise to use averages, even by county as price differ massively from rural areas to urban areas. Anyway most of the homes quoted are not new build but older homes up for sale. These same homes are excluded from the first time buyers grant thus ensuring that all first time buyers have to purchase in new build estates often on the outskirts of towns. Very short sighted policy as older homes for sale need young families to regenerate areas.
The Tiger is back
Wait until the property tax takes a hike then?
FFS, did they not have any other colour except blue available to them?? I can only make out 4 shades of blue and a black.
have your say