According to updated statistics from the Central Statistics Office, the price of residential real estate increased 8.6% nationwide in the year that ended in June, reports RTE.
Since October 2022, this is the greatest rate of inflation in real estate that has been documented.
June had a 0.7% increase in prices compared to May’s 0.4% increase, demonstrating the acceleration of the monthly rate of growth.
Prices increased by 9.3% in Dublin and 8.2% outside of the city during the year ending in June, reports RTE.
In the country, the average cost of a house bought in June was €337,500.
In Longford, the lowest median house price was €169,000, while in Dún Laoghaire-Rathdown, the highest median price was €630,000.
According to the data, house prices increased by 8% outside of Dublin throughout the course of the year, but by 10% in the city.
Apartment prices increased 6.6% in Dublin during the course of the year, whereas they increased 10% outside of the city, reports RTE.
The mid-west, which includes Tipperary, Limerick, and Clare, recorded the biggest increase in home prices outside of Dublin, at 12.0%.
The southeast, which includes Carlow, Kilkenny, Waterford, and Wexford, saw the lowest growth rate, 5.6%.
Dún Laoghaire-Rathdown experienced an increase in property prices of 8.5%, while Dublin witnessed the largest gain in the city at 11.7%, reports RTE.
Currently, nationwide prices are 10.8% higher than they were in April 2007, during the height of the real estate bubble.
Still, prices for residential real estate in Dublin remain 0.7% below their peak in February 2007, reports RTE.
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