The national Residential Property Price Index (RPPI) rose by 6.1% in the 12 months to January 2023, with prices in Dublin rising by 4.3% and prices outside Dublin up by 7.4%, according to CSO data.

In January 2023, a total of 3,675 dwelling purchases by households at market prices were filed with the Revenue Commissioners, up by 4.4% compared with the 3,519 purchases in January 2022.

The median price of a dwelling purchased in the 12 months to January 2023 was €305,000.

Non-household entities

Non-household entities purchased 13,519 dwellings at market prices in 2022, an increase of 15.1% on the 11,749 purchases made by them in 2021.

Non-household entities in the financial and insurance sector purchased residential dwellings with a total value of €1.56 billion in 2022.

The sector comprising public/ education/ human health/ social work was the second-largest buyer, with the total value of dwelling purchases of €1.3 billion, after financial and insurance interests.

In 2022, dwellings with the total value of €356.9 million at market prices were purchased by non-household entities with an address outside of Ireland.

Statistician Viacheslav Voronovich said: “Residential property prices rose by 6.1% in the 12 months to January 2023, down from 7.7% in the year to December 2022, and from the high values of 15.1% in the 12 months to February and March 2022.

“In Dublin, residential property prices saw an increase of 4.3%, while property prices outside Dublin were 7.4% higher than a year earlier.”

In Dublin, house prices increased by 4.3% and apartment prices were up by 4%. The highest house-price growth in Dublin was in south Dublin at 9.8%, while Dublin city saw a rise of 1.3%.

Outside Dublin, house prices were up by 7.6% and apartment prices rose by 4.8%. The region outside of Dublin that saw the largest rise in house prices was the Border (Cavan, Donegal, Leitrim, Monaghan, Sligo) at 10.1%, while at the other end of the scale, the Mid-West (Clare, Limerick, Tipperary) saw a 6.7% rise. 

Most expensive Eircode area

The most expensive Eircode area over the 12 months to January 2023 was A94 ‘Blackrock’ with a median price of €755,000, while F35 'Ballyhaunis' was the least expensive at €127,500.

Viacheslav added: “In 2022, non-household entities purchased 13,519 dwellings at market prices, an increase of 15.1% on the 11,749 purchases made by them in 2021. The total value of the purchases by non-household entities in 2022 was €4.6 billion, an increase of 31.8% on the 2022 value.