According to the most recent data from the Central Statistics Office, for the 12-month period ending in November of last year, property values increased by 9.4%, reports RTE.
The numbers show that the rate of acceleration has somewhat slowed, but prices are still rising and are 16% higher than they were before the 2007 real estate bubble.
In comparison, the rate of rise in the 12 months leading up to November was 9.4%, compared to 9.7% in October, 9.9% in September, and 10% in August, reports RTE.
According to the most current CSO data, prices increased by 9.2% outside of the city and 9.6% in Dublin.
In November, first-time buyers in Dublin paid an average of more than €480,000, reports RTE.
In the capital, the average price paid by non-first-time purchasers was more than €650,000.
Across the country, the median price of a property was €350,000, reports RTE.
Leitrim and Longford had the lowest prices at €180,000, while Dún Laoghaire-Rathdown had the most at €654,000.
“In the 12 months to November 2024, house prices in Dublin rose by 9.9% while flat prices increased by 8.3%,” stated the CSO, reports RTE.
“The highest house price growth in Dublin was in Dublin City at 11.7% while Dún Laoghaire-Rathdown saw a rise of 6.9%,” it stated, reports RTE.
The border regions of Cavan, Donegal, Leitrim, Monaghan, and Sligo had the most increase outside the capital, at 13.8%.
Conversely, there was a 6.5% growth in the commuter belt of Kildare, Meath, Louth, and Wicklow.
Since their low point in early 2013, real estate prices nationwide have risen by 158.7%, reports RTE.
Trevor Grant, chairperson of Irish Mortgage Advisors, commented on today’s findings, saying that although the yearly increase rate of home prices has slowed somewhat, it is still quite high.
“Given this steep house price inflation, all eyes will be on the new government to see if it can tackle this country’s seemingly insurmountable housing crisis and it if can deliver on its promise to deliver 300,000 homes by the end of 2030,” Mr Grant said, reports RTE.
“The new government will need to do its utmost to reach these targets and to make housing more affordable for the many who are priced out of the market. More supply will ultimately make more homes available to would-be buyers, while also keeping the rate of house price growth in check,” he stated, reports RTE.
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