In the ever-evolving landscape of Ireland’s property market, a noteworthy trend has emerged. Recent data from the Central Statistics Office (CSO) reveals a stark contrast between Dublin and its neighboring regions. While Dublin has experienced a 1.9% decrease in house prices over the past year, areas outside the capital are witnessing remarkable surges, with an impressive 3.1% increase.
The Residential Property Price Index (RPPI) report underscores this divergence, showcasing a nationwide average growth of 0.9% in house prices over the same period. In August 2023, 4,640 house sales transpired, marking an 8% uptick compared to the prior year.
The average selling price of Irish homes from August 2022 to August 2023 is €320,000. The A94 Blackrock area in Dublin saw the highest number of houses sold, with an average price of €735,000, while the most budget-friendly properties were located in F45 Castlerea, commanding an average price of €135,000.
Beyond the capital, Cork and Kerry lead the charge with a remarkable 4.4% surge in house prices. Meanwhile, Laois, Longford, Offaly, Westmeath, Galway, Mayo, and Roscommon have seen steady increases of 2.1% over the past year. This dynamic shift reflects a changing landscape in the Irish housing market, with Dublin seeing a decline while demand surges and prices rise in other regions.