House prices rise by over 10% in the year to August

HOUSE PRICES GREW by 10.1% in the 12 months to August, the highest annual increase since September 2022.

That’s according to the latest Residential Property Price Index released by the Central Statistics Office (CSO).

In Dublin, house prices rose by 11.6% in the year to August, while apartment prices increased by 7.6%.

The highest house price growth in Dublin was in Fingal at 12.4%, followed by Dún Laoghaire-Rathdown saw a rise of 10.3%.

Outside of Dublin, house prices were up 9.5% in the year to August, while apartment prices grew by 10.1%.

The border counties of Cavan, Donegal, Leitrim, Monaghan, and Sligo saw the highest rise in house prices, at 15.1%.

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At the other end of the scale, the Mid-East (Kildare, Louth, Meath, and Wicklow) saw an 8.0% rise.

The median price of a home purchased in the 12 months to August was €345,000.

The lowest median price was €175,000 in Longford, while the highest was €635,000 in Dún Laoghaire-Rathdown.

The most expensive Eircode area in the 12 months to August 2024 was Dublin 6 with a median price of €725,000, while H23 ‘Clones’ had the least expensive price of €135,000.

Meanwhile, property prices of new dwellings in the second quarter of this year were 7.4% higher than in the same period last year.

This compares to an increase of 8.5% in the year to the first quarter of 2024.

Overall, the CSO found that the price of new dwellings have increased by 124.3% from their trough in the middle of 2013, while the cost of existing dwellings are 146.4% higher than at their trough in 2012.

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