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Residential property price increases in the year to February slow to a 22 month low

The 5% increase in property prices is the lowest rate of annual growth since April 2021, when an increase of 4.5% was recorded nationally.

RESIDENTIAL PROPERTY PRICES increased by 5% in the 12 months to February.

However, that’s the lowest rate of annual growth in 22 months, when an increase of 4.5% was recorded nationally in April 2021.

That’s according to the CSO’s Residential Property Price Index for February 2023.

The 5% increase in the 12 months to February is also down on the 6.1% annual increase that was recorded in the year to January 2023.

The latest figures are considerably down on the high values of 15.1% in the 12 months to February and March 2022.

Property types

In Dublin, residential property prices saw a 3.2% increase in the 12 months to February 2023.

House prices in Dublin increased by 3%, while apartment prices went up 4%.

The highest house prices growth in Dublin was seen in South Dublin at 9.3%.

However, in Dublin City there was a decrease in house prices of 0.5%, making it the only place where there was a decrease in prices.

The residential property price increase outside of Dublin was 6.4%.

House prices were up 6.6% while apartment prices were up 3.3%.

In the border region, house prices increase 9% in the 12 months to February 2023, while the Mid-West (Clare, Limerick, and Tipperary) saw a 4.9% increase.

House prices

The median price of a house purchased in the 12 months to February 2023 was €310,000, with the lowest median price being found in Longford at €152,000.

The highest median price was €630,000 in Dún Laoghaire-Rathdown.

Meanwhile, the most expensive Eircode area in the 12 months to February 2023 was A94 ‘Blackrock’ with a median price of €755,000.

F35 ‘Ballyhaunis’ and F45 ‘Castlerea’ shared the least expensive price of €130,000.

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7 Comments
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    Mute Michael Flanagan
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    Apr 14th 2023, 10:02 PM

    There is a lot of young people immigrating because of the housing crisis.
    The government has turned its back on the young generation

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    Mute anthony hilton
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    Apr 14th 2023, 10:47 PM

    @Michael Flanagan: I’m one of them. I now live in Finland just over 6 months and I’ve already started the process of purchasing my first home. I spent 10 years trying to save in Ireland and still got a “NO” anytime to even asked

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    Mute smatrix mantra
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    Apr 14th 2023, 8:39 PM

    Would be good if all the other runaway prices also came to a stop.

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    Mute Paulco
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    Apr 15th 2023, 3:44 AM

    Why can’t they build a lot more houses and community needs in Longford and put a high speed train to Dublin in place? Sorry for speaking sense.

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    Mute Nollaig O'Cualain
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    Apr 15th 2023, 8:28 AM

    @Paulco: If the Taoiseach was from Longford you might have a chance otherwise its all Dublin and Cork for now

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    Mute Shane Carroll
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    Apr 15th 2023, 8:47 AM

    So in other words the prices are still going up

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    Mute Roger Bond
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    Apr 15th 2023, 4:48 PM

    Most people can feel wealthier now as the prices have nearly doubled since the last recession.

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