Residential property prices grew by 14.4% in the year to May, according to CSO data.

In May 2022, 3,731 dwelling purchases by households at market prices were filed with the Revenue, an increase of 16.3% compared to the 3,207 purchases in May 2021.

The median price of a dwelling purchased in the 12 months to May 2022 was €290,000.

The lowest median price for a house in the 12 months to May 2022 was €138,000 in Longford, while the highest median price was €601,000 in Dún Laoghaire-Rathdown. 

Marginally down on April

Statistician Viacheslav Voronovich said: “Residential property prices rose by 14.4% in the 12 months to May 2022, marginally down from 14.5% in the year to April 2022. In Dublin, residential property prices saw an increase of 11.7%, while property prices outside Dublin were 16.6% higher than a year earlier.

In Dublin, house prices increased by 11.9% and apartment prices by 11.3%.

The highest house price growth in Dublin was in Dublin City at 14.1%, while Dún Laoghaire-Rathdown saw a rise of 9.2%.”

Outside Dublin, house prices were up by 16.8% and apartment prices rose by 14.0%. The region outside of Dublin that saw the largest rise in house prices was the South-East at 21.5%, while at the other end of the scale, house prices in the Mid-West increased by 11.4%.

Existing dwellings accounted for 3,079 (82.5%) of the dwelling purchases filed with the Revenue Commissioners in May 2022, the balance of 652 (17.5%) were new dwellings.