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07 Jul 2022

Massive annual jump in house prices across the country revealed

Massive annual jump in house prices across the country revealed

The price of houses rose by over 15% in the last year, latest figures reveal.

The Central Statistics Office (CSO) has published the Residential Property Price Index (RPPI) February 2022, which shows the staggering increases.

Commenting on the figures, Viacheslav Voronovich, Statistician, said: "Residential property prices rose by 15.3% in the 12 months to February 2022, up from 14.8% in January 2022. In Dublin, residential property prices saw an increase of 13.5%, while property prices outside Dublin were 16.8% higher".

In Dublin, house prices increased by 13.6% and apartment prices by 12.8%. The highest house price growth in Dublin was in Fingal at 14.3%, while South Dublin saw a rise of 12.2%.

Outside Dublin, house prices were up by 16.7% and apartment prices rose by 17.8%. The region outside of Dublin that saw the largest rise in house prices was the Border at 26.9%, while at the other end of the scale, house prices in the Mid-East increased by 14.5%.

Existing dwellings accounted for 3,036 (84.7%) of the dwelling purchases filed with the Revenue Commissioners in February 2022, the balance of 548 (15.3%) were new dwellings.

Households paid a median or mid-point price of €282,000 for a residential property in the 12 months to February 2022. The lowest median price paid for a dwelling was €132,750 in Longford, while the highest was €600,000 in Dún Laoghaire-Rathdown.

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