Home-price growth slows to 5.1% – CSO
The annual rate of growth in residential-property prices slowed for the fifth month in a row in July, according to the latest official figures.
The Central Statistics Office (CSO) said that prices across the country rose by 5.1% in the year to August, compared with a revised 5.4% in July.
The rate of growth was the weakest since December 2023.
The slower growth was mainly due to prices in Dublin, where the rate of growth slowed from July’s 4.5% to 3.9%.
Outside Dublin, the annual rate of growth picked up slightly to 6.2%.
Border region leads growth
The CSO figures show that the median price of a home bought during the year to August was €400,000.
In the 12 months to August, house prices in Dublin rose by 3.3%, while apartment prices increased by 5.7%. The highest house-price growth in Dublin was in Dún Laoghaire-Rathdown at 6%.
Outside Dublin, house prices were up by 6%, and apartment prices rose by 8.6%. The region outside of Dublin that saw the largest growth in house prices was the border (Cavan, Donegal, Leitrim, Monaghan, and Sligo) at 9.1%.
Home purchases up 2.5%
During August, households filed 4,279 home purchases with Revenue – up 2.5% compared with the same month last year.
Existing dwellings accounted for 3,241 (75.7%) of August’s purchases. The balance of 1,038 (24.3%) were new dwellings.
The total value of homes bought was €1.95 billion in August – a 7.8% increase on the same month last year.
First-time buyers who were owner-occupiers accounted for 41% of the 51,415 home purchases filed with Revenue in the year to August.