New figures from the Central Statistics Office (CSO) show that house price growth reached a seven-year high of over 15% in March.
According to the Central Statistics Office, Residential Property Prices increased by 15.2% nationally in the 12 months to March 2022, up from 15.1% in February 2022.
It’s the sharpest rate of annual price growth in the housing market since a spike of 16.8% in March 2015.
House prices in Dublin increased by 12.6% and apartment prices by 12.9%.
The highest house price growth in Dublin was in Dublin City at 13.8%, while South Dublin saw a rise of 11.3%.
Outside Dublin, house prices were up by 17.3% and apartment prices rose by 17.6%.
The region outside of Dublin that saw the largest rise in house prices was the Border at 25.1%, while at the other end of the scale, house prices in the Mid-East increased by 15.2%.
Existing dwellings accounted for 3,288 (83.9%) of the dwelling purchases filed with the Revenue Commissioners in March 2022, the balance of 630 (16.1%) were new dwellings.
Households paid a median or mid-point price of €285,000 for a residential property in the 12 months to March 2022.
The lowest median price paid for a dwelling was €136,500 in Longford, while the highest was €601,000 in Dún Laoghaire-Rathdown.