Anyone who has been looking for somewhere to live in Ireland for the past year is well aware that prices have been on a dramatic incline.
Figures released today by the Central Statistics Office in their Residential Property Price Index for September 2017 reflect this huge increase in price level. The report shows that residential property across Ireland has increased by 12.8% in just 12 months since September of last year.
Houses in Dublin are slightly below the national average, and are generally 12.8% more expensive than they were this time last year. Dublin apartments are also below the national average, but are still 11.1% more expensive than they were at this time last year.
Outside of Dublin, the average level of increase in residential property prices stands at 13.2%. Once Dublin is taken out of the equation, apartments nationwide cost, on average, 15.5% more than they did at this time last year.
The greatest change has been seen in the West, where houses are 16.5% more expensive than they were in September 2016. Prices are most static in the Midwest area (including South Tipperary), which reports a 9.8% increase since the same period last year.
Since hitting drastic lows during the housing market crash, Irish house prices have increased by 70.2% since 2013. Compared to their peak in 2007, prior to the recession, houses are 23.7% cheaper nationwide..
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