Irish residential property prices up 6.6%

The price of residential properties outside Dublin rose by 1.2 per cent in December, according to official statistics.

The figure, from the Central Statistics Office’s Residential Property Price Index, compares with a rise of 0.7 per cent in December of last year. Prices were 10.2 per cent higher than in December 2014.

Residential property prices across the State increased by 6.6 per cent in the year to December. This compares with an increase of 6.5 per cent in November and an increase of 16.3 per cent recorded in the twelve months to December 2014.

Overall, residential property prices increased by 0.5 per cent in the month of December. This compares with a decrease of 0.5 per cent recorded in November and an increase of 0.4 per cent recorded in December of last year.

In Dublin, residential property prices decreased by 0.5 per cent in December and were 2.6 per cent higher than a year ago. Dublin house prices decreased by 0.5 per cent in the month and were 2.1 per cent higher compared to a year earlier.

Dublin apartment prices were 7.8 per cent higher when compared with the same month of 2014.

Overall, house prices in Dublin are 34.2 per cent lower than at their highest level in early 2007. Apartments in Dublin are 40.6 per cent lower than they were in February 2007.

Residential property prices in Dublin are 36.1 per cent lower than at their highest level in February 2007. The price of residential properties across the rest of the State is 35.4 per cent lower than their highest level in September 2007.

Overall, the national index is 33.5 per cent lower than its highest level in 2007.