Property prices rise by 14% in year to November - CSO

The latest figures from the Central Statistics Office show that residential property prices increased by 14% nationally in the year to November - the 13th month of growth in a row.

The CSO said this compares to an increase of 13.3% in the year to October and an increase of 0.4% the same time last year.

Home prices outside Dublin were 15% higher in the year to November, while Dublin home prices saw an increase of 12.8%.

Today's figures show that Dublin house prices increased by 13.5% and apartment prices increased by 9.7%.

The CSO noted that the highest house price growth in Dublin was in Dún Laoghaire-Rathdown at 15.5%, while Fingal saw a rise of 10.8%.

Outside Dublin, house prices were up by 14.8% and apartment prices up by 17.5%.

The region outside of Dublin that saw the largest rise in house prices was the Border at 23.4%, while at the other end of the scale, the Mid-East and Mid-West saw a 12.6% rise.

The CSO said that Dublin residential property prices are 12% lower than their February 2007 peak, while residential property prices in the rest of the country are 6.9% lower than their May 2007 peak.

The median price of a home purchased in the 12 months to November 2021 was €276,000.

The Dublin region had the highest median price of €405,000 in the year to November. Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price of €590,000, while South Dublin had the lowest at €368,000.

The highest median prices outside of Dublin were in Wicklow at €385,000 and Kildare at €335,000, while the lowest price was €129,000 in Longford.

Meanwhile, the Eircode area with the highest median price for a home was A94 'Blackrock' with a price of €685,000, while the second most expensive Eircode area was D04 'Dublin 4', with a median price was €662,500.

The third most expensive area was A96 'Glenageary', which had a median price of €620,287.

The Eircode area with the least expensive median price within Dublin was D10 'Dublin 10', where the median price was €255,000.

Outside of Dublin, the most expensive Eircode area over the last 12 months was A63 'Greystones', with a median price of €490,000.

The second most expensive Eircode area was A98 'Bray', where the median price was €426,500, while the third most expensive was P17 'Kinsale', which had a median price of €395,000.

The least expensive Eircode areas over the last 12 months was H23 'Clones', with a median price of €85,000.

The second least expensive Eircode area was F35 'Ballyhaunis', where the median price was €99,000, while the third least expensive Eircode area was F45 'Castlerea', with a median price of €102,000.

Today's figures also reveal that a total of 4,566 home purchases were filed with Revenue in November, an increase of 7.8% compared to the 4,236 purchases in November 2020.

In the year to November, a total of 46,237 home transactions were filed with Revenue. Of these, 31.7% were purchased by first time buyer owner-occupiers, while former owner-occupiers purchased 54.2%. The balance of 14.2% were bought by non-occupiers.

Revenue data shows that there were 1,445 first-time buyer purchases in November, an increase of 0.5% on the 1,438 recorded the same month the previous year. These purchases were made up of 452 new dwellings and 993 existing dwellings.

Source : RTE 19-01-2022