Dublin house prices soar in four years

Property prices in Ireland’s capital city, Dublin, have risen by almost 90 per cent since values hit their lowest point in the property crash just four years ago.

New figures from the country’s Central Statistics Office (CSO), show that average house prices in Dublin have risen by 87 per cent since 2013. In the past year residential property prices in the city increased by 12.2 per cent in the 12 months to September with house prices climbing by 12.4 per cent and the cost of apartments going up by 11.4 per cent.

The highest house price growth in the capital was recorded in the Dublin City area, where prices climbed by 13.9 per cent.

Nationally, property prices across Ireland grew by 12.8 per cent in the year to the end of September.

The west region showed the greatest price growth, with house prices increasing 16.5 per cent. Meanwhile, the mid-west region showed the least price growth, although house prices still increased by 9.8 per cent.

However, while property prices may be rising throughout Ireland, the national average house price is still 23.7 per cent lower than it was at its highest level in 2007.

Dublin residential property prices are still 24.5 per cent lower than they were at their February 2007 peak.

Article published 9th November 2017