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Irish property prices rising ‘month in, month out’, says Association

Residential property prices in Ireland increased by 12.4% nationally in the year to September, according to the latest data from the Central Statistics Office (CSO). This compares to an increase of 10.9% in the year to August and a decrease of 0.8% in the 12 months to September 2020. 

In Dublin, residential property prices saw an increase of 11.5% in the year to September, while property prices outside Dublin were 13.2% higher. In the capital, house prices increased by 12.4% and apartment prices increased by 7.7%. The highest house price growth in Dublin was in the city at 14.1%. 

Outside Dublin, house prices were up by 13% and apartment prices up by 15.1%. The region outside of Dublin that saw the largest rise in house prices was the Border, at 21.9%. At the other end of the scale, the Mid-East saw a 10.7% rise. 

Overall, the Irish national index is 7.4% lower than its highest level in 2007. Dublin residential property prices are 13.8% lower than their February 2007 peak, while prices in the rest of Ireland are 9.5% lower than their May 2007 peak. 

Association of Irish Mortgage Advisors chairman Trevor Grant said both rents and property prices are rising “month in, month out”. He added: “People trying-to-be-homeowners with good incomes and steady jobs all over the country are getting frustrated and disillusioned because they are finding themselves stuck between a rock and a hard place.”

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