Home prices see annual increase of 4.5% in April – CSO
The price of residential property increased by 4.5% in April, according to the latest figures from the Central Statistics Office.
This compares to an increase of 3.5% in March and an increase of 0.7% in the 12 months to April last year.
Prices were slower to rise in Dublin, with an increase of 3.5%, while property prices outside of Dublin were 5.4% higher.
In Dublin, house prices increased by 4.1% and apartment prices increased by 0.9%.
The highest house price growth in Dublin was in Dublin City at 5%, while Fingal and South Dublin saw a rise of 3.2%.
Outside Dublin, house prices were up by 4.9% and apartment prices up by 11.3%.
The region outside of Dublin that saw the largest rise in house prices was the border region at 8.5%, while the south west of the country saw a 3% rise.
Today’s data shows that overall, property prices nationally have increased by 91% from their trough in early 2013.
Dublin residential property prices have risen 99.1% from their February 2012 low, while residential property prices in the rest of Ireland are 91.4% higher than at the trough, which was in May 2013.
The CSO figures reveal that the price of new properties in the first three months of 2021 were 2.5% higher than in the same period last year.
Prices of existing homes in the first quarter of 2021 were 3.3% higher than in same time in 2020.
Overall, prices of new homes have risen by 73.7% from their trough in the middle of 2013, while prices of existing homess are now 88.4% higher than at their trough in 2012.
Today’s figures show that while the volume of transactions in April is higher when compared to the same month in 2020, it is down compared to the volume of purchases the previous month.
In April there were 3,138 property purchases registered with Revenue.
This is up 33.5% compared to the 2,351 purchases in April 2020, but down 20.6% compared with the 3,951 purchases in March 2021.
The total value of transactions filed in April was €979m.
Existing homes accounted for over 85% of the property purchases filed in April, an increase of 39.8% compared to April 2020.
There were 936 first-time buyer purchases in April, an increase of 16.1% on the 806 recorded in the same month last year.
The data shows these purchases were made up of 241 new dwellings and 695 existing dwellings.
Today’s data also shows that the proportion of people who purchased a residential property as a couple rose from 47% of purchases in 2010 to 62% in 2019.
The figures also show that the median, or mid-point, age of joint buyers rose from 35 to 38.
For single buyers, that rose from 34 to 42.
The median income for couples buying a property rose from €67,800 in 2012 to €81,500 in 2019.
The median income for single people buying a property rose from €34,500 in 2012 to €42,600 in 2019.
Meanwhile, the median price for a dwelling on the residential property market in the 12 months to April was €265,000.
The Dublin region had the highest median price of €390,000.
Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price of €545,000, while South Dublin and Fingal had the lowest at €360,000.
The highest median prices outside of Dublin were in Wicklow at €359,950 and Kildare at €325,000, while the lowest price was €113,750 in Longford.
The Eircode area with the highest median price for household property purchases was A94 Blackrock at €621,250.
The five most expensive Eircode areas by median price were in Dublin.
The Eircode area with the least expensive median price within Dublin was D10 Dublin 10, where the median price was €240,000.
Outside of Dublin the most expensive Eircode area over the last 12 months was A63 ‘Greystones’, with a median price of €480,000.
The least expensive Eircode area over the last 12 months was F45 Castlerea, with a median price of €85,000.
Article Source – House prices see annual increase of 4.5% in April – CSO – RTE – Gill Stedman
