Residential property price in Ireland continues to soar as the latest price hike recorded is 13.5% for the country within the 12 months to October this year. The report by Central Statistics Office (CSO) shows price has increased significantly outside the capital especially in border areas.
The price hike in Dublin is 12.3% and outside the capital it is 14.6%. But the rise is 24.1% in the border region which is the highest increase rate in the country.
The least increase in Dublin region is in Fingal with 9.6% and highest increased area is Dublin City with 15.5%. The mid-east region of the country see an increase of 11.5%.
When divided as houses and apartments, the house price in Dublin increased by 13.3% and apartment price by 8.1%. Outside Dublin house price increased by 14.7% and apartment price is up by 13.4%.
Despite the price hike, the number of houses sold on a year-on-year basis has increased the CSO data reveals. In October, 4,335 units were sold which is 12.7% higher than that of same month last year. Existing dwellings accounted for 85.1 per cent of residential properties sold while new dwellings accounted for 14.9 per cent.
The median price of a home for the entire country now stands €275,000. The lowest median price is €129,000 and highest median price is €580,000.