Annual residential property prices rose for the fourth month in a row in December, new Central Statistics Office figures show today.
Property prices increased by 4.4% in the 12 months to December, while prices rose by 1.5% on a monthly basis - the fastest monthly pace in two years.
Home prices in Dublin were up 2.7% and prices outside Dublin increased by 5.7%, the CSO noted.
Year-on-year property price growth had cooled from a recent peak of 15.1% in February 2022 to a near three-year low of 1.1% last August.
Despite recovering to a 15-year high in 2023, the supply of new housing is still not growing fast enough to meet demand.
Today's figures show that house prices in Dublin rose by 2.7% in the 12 months to December while apartment prices increased by 2.6%.
The highest house price growth in Dublin was in South Dublin at 4.3% while Dún Laoghaire-Rathdown saw a rise of 1.2%.
Outside Dublin, house prices were up by 5.6% and apartment prices jumped by 7.7% over the 12 month period.
The region outside of Dublin that saw the largest rise in house prices was the Midlands (Laois, Longford, Offaly, and Westmeath) at 7.8%, while at the other end of the scale, the West (Galway, Mayo, and Roscommon) saw a 3.3% rise.
Today's CSO figures show that the median price of a home bought in the 12 months to December was €327,500.
The lowest median price for a home was €165,000 in Leitrim, while the highest median price was €622,250 in Dún Laoghaire-Rathdown.
We need your consent to load this rte-player contentWe use rte-player to manage extra content that can set cookies on your device and collect data about your activity. Please review their details and accept them to load the content.Manage Preferences
Meanwhile, the most expensive Eircode area was A94 'Blackrock' with a median price of €720,000, while F45 'Castlerea' had the least expensive price of €135,000.
Today's figures also show that a total of 5,063 homes bought at market prices were filed with Revenue in December, a fall of 2.9% when compared with the 5,213 purchases in December 2022.
The CSO said today that property prices nationally have now increased by 140% from their trough in early 2013.
Dublin residential property prices have risen by 138.4% from their February 2012 low, while residential property prices in the Rest of Ireland are 149.9% higher from their trough in May 2013.
