House prices continue to rise in Ireland: where is it best to buy?

Adriana Lima
By Adriana Lima 3 Min Read
origin 1Ha’Penny Bridge in Dublin, Ireland ©Canva/Paha L

Residential property prices in Ireland continue to speed up, each on a month-to-month and annual foundation.

Data launched on Wednesday by the nation’s Central Statistics Office (CSO) confirmed the National Residential Property Price Index (RPPI) rose 2.3% in the 12 months to October 2023, in contrast with 1, 4% in September and 1.1% in August.

Similarly, RPPI elevated 1.1% in October on a month-to-month foundation, in contrast to 0.9% in September and 0.5% in August.

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However, the pattern seems completely different relying on where you reside in Ireland: prices in Dublin fell by 0.6% in the 12 months to October this 12 months, whereas prices outdoors the capital rose by 4.5 %, in accordance to the CSO.

However, Dublin’s worth contraction is slowing, having beforehand stood at -1.7% in September and -1.8% in August.

The adjustments imply that, throughout the nation, the typical worth of a home stood at €323,000 in October.

The least expensive place to purchase a home in Ireland in October was in Longford, with a mean worth of €160,000, whereas Dún Laoghaire-Rathdown, in the province of Leinster, had the costliest properties on common with a mean worth of 630,000 euros, in accordance to the info.

Despite being the costliest space to purchase a home, Dún Laoghaire-Rathdown noticed a 1.5% drop in home worth progress. On the opposite hand, worth progress in Dublin was 0.8% in Fingal.

Looking at property varieties, home prices in Dublin fell by 0.7%, whereas residence prices fell by 0.4%.

Data exhibits that residential property prices in Ireland seem to be accelerating once more, following a interval of sustained deceleration for a lot of 2022 and 2023. The state of affairs seems to be mirrored throughout the Irish Sea, as home prices continue to increase in the UKregardless of an obvious decline in EU and eurozone.

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