Property Prices Up Nearly 8% in 12 Months to May

Property prices increased by 7.9% in the 12 months to May, with the median price of a home costing €370,000. This data is from the latest Residential Property Price Index published by the Central Statistics Office (CSO).

In Dublin, property prices rose by 6.9%, while outside Dublin they were up by 8.7% compared to May 2024. The highest median price for a dwelling was €670,000 in Dún Laoghaire-Rathdown, and the lowest was €186,000 in Leitrim.

House prices in Dublin increased by 6.8% in the 12 months to May, with apartment prices rising by 7.2%. Fingal saw the highest house price growth in Dublin at 9.3%, while outside Dublin, the Border counties experienced the largest growth at 11.1%.

Overall, property prices nationally have risen by 165% from their low point in early 2013. In May, there were 3,824 dwelling purchases filed with the Revenue Commissioners, totaling €1.6 billion.

Brokers Ireland expressed concern over the rising prices, highlighting a shortage of supply and the challenges faced by prospective buyers and renters. They emphasized the need for increased housing supply to address the situation.

According to the source: The Journal.