Steep annual residential property price growth slowed down for the first time in 18 months in April, new figures from the Central Statistics Office show today.
Residential property prices saw year-on-year growth of 14.2% in April compared to a seven-year high of 15.1% in March, the CSO figures reveal.
Home prices rose by 0.1% on a monthly basis, the lowest monthly expansion since property price inflation began to pick up again in mid-2020 following a brief dip at the start of the Covid-19 pandemic.
Today's figures show that Dublin residential property prices rose by 11.5% in the year to April, while property prices outside Dublin were 16.4% higher than a year earlier.
Dublin house prices increased by 11.3% and apartment prices increased by 12.8%. The CSO noted that the highest house price growth in Dublin was in Dublin City at 12.7%, while Dún Laoghaire-Rathdown saw growth of 9%.
Outside Dublin, house prices were up by 16.4% and apartment prices up by 16.3%.
The region outside of Dublin that saw the largest rise in house prices was the Border at 22.1%, while at the other end of the scale, the Mid-West saw a 11.7% rise.
The CSO said that Dublin residential property prices are 10.2% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 3.2% lower than their May 2007 peak.
Today's CSO figures show that consumers paid a median price of €286,000 for a home on the residential property market in the 12 months to April.
The Dublin region had the highest median price of €410,000 in the year to April.
Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price of €605,000, while South Dublin had the lowest at €375,000.
The highest median prices outside of Dublin were in Wicklow (€395,000) and Kildare (€345,000), while the lowest price was €137,000 in Longford.
Meanwhile, the Eircode area with the highest median price for a home was A94 'Blackrock' with prices of €720,000.
The second most expensive Eircode area was D04 'Dublin 4', where the median price was €675,500, while the third most expensive area was A96 'Glenageary' with a median price of €630,500.
The Eircode area with the least expensive median price within Dublin was D10 'Dublin 10', where the median price was €266,500.
Outside of Dublin the most expensive Eircode area over the last 12 months was A63 'Greystones', with a median price of €499,999.
The second most expensive Eircode area was A98 'Bray', where the median price was €430,000, while the third most expensive was W23 'Celbridge', which had a median price of €394,980.
The cheapest Eircode areas over the last 12 months was F45 'Castlerea', with a median price of €115,000.
The second cheapest Eircode area was F35 'Ballyhaunis', where the median price was €120,000 and the third least expensive Eircode area was H14 'Belturbet', with a median price of €121,000.
According to today's statistics, a total of 3,446 home purchases were filed with Revenue in April, an increase of 9.8% increase compared to the 3,138 purchases in April 2021 and a 12% decrease compared with the 3,918 purchases in March 2022.
The total value of transactions filed in April was €1.1 billion.
Existing homes accounted for 84% of the home purchases filed in April, an increase of 8.2% compared to the same time last year.
The balance of 16% were new dwellings, an increase of 19.3% compared to April 2021.