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House prices in Dublin city declined by 2.7% in November

19 Jan 2021 / property Print

House prices in Dublin city down by 2.7% in November

Residential property prices (houses and apartments) increased by 0.2% nationally in the year to November, according to new CSO figures.

This compares to a decrease of 0.5% in the year to October and an increase of 1.1% in the twelve months to November 2019.

In Dublin, residential property prices saw a decline of 0.9% in the year to November, while property prices outside Dublin were 1.2% higher.

In Dublin, house prices decreased by 1.1% and apartment prices increased by 0.9%. The highest house price growth in Dublin was in south Dublin at 2.7%, while Dublin city saw a decline of 2.7%.

Outside Dublin, house prices were up by 1.1% and apartment prices up by 1.9%.

The region outside of Dublin that saw the largest rise in house prices was the south east at 3%.

At the other end of the scale, the mid-west saw a 4.3% decline.

Overall Decline

Overall, the national index is 16.9% lower than its highest level in 2007.

Dublin residential property prices are 22.2% lower than their February 2007 peak, while residential property prices in the rest of Ireland are 19.2% lower than their May 2007 peak.

Recovery

Property prices nationally have increased by 85.3% from their trough in early 2013. Dublin residential property prices have risen 92.7% from their February 2012 low, whilst residential property prices in the rest of Ireland are 86.0% higher than at the trough, which was in May 2013.

Residential Property Price Index (RPPI) is based on Revenue stamp duty returns, which have a 44-day submission deadline. To account for this fact and also for late filings, the RPPI for the latest three months is provisional and subject to revision, the CSO has pointed out.

 

Gazette Desk
Gazette.ie is the daily legal news site of the Law Society of Ireland