18 Aug 2022

Annual house price increases in Waterford and South East are highest in country

Annual house price increases in Waterford and South East are highest in country

The South East region saw the most dramatic rise in house prices in the past year, figures from the Central Statistics Office (CSO) show. 

House prices in the region went up by a staggering 21%, by far the highest in the country. 

Property prices in some parts of the country rose by over 16% in the past year, latest figures show. 

The national Residential Property Price Index (RPPI) increased by 14.4% in the 12 months to May 2022, with prices in Dublin rising by 11.7% and prices outside Dublin up by 16.6%

In May 2022, 3,731 dwelling purchases by households at market prices were filed with the Revenue, an increase of 16.3% compared to the 3,207 purchases in May 2021

The median price of a dwelling purchased in the 12 months to May 2022 was €290,000

The lowest median price for a house in the 12 months to May 2022 was €138,000 in Longford, while the highest median price was €601,000 in Dún Laoghaire-Rathdown.

Commenting on the release, Viacheslav Voronovich, Statistician, said: "Residential property prices rose by 14.4% in the 12 months to May 2022, marginally down from 14.5% in the year to April 2022. In Dublin, residential property prices saw an increase of 11.7%, while property prices outside Dublin were 16.6% higher than a year earlier".

In Dublin, house prices increased by 11.9% and apartment prices by 11.3%.

The highest house price growth in Dublin was in Dublin City at 14.1%, while Dún Laoghaire-Rathdown saw a rise of 9.2%.

Outside Dublin, house prices were up by 16.8% and apartment prices rose by 14.0%.

The region outside of Dublin that saw the largest rise in house prices was the South-East at 21.5%, while at the other end of the scale, house prices in the Mid-West increased by 11.4%.

Existing dwellings accounted for 3,079 (82.5%) of the dwelling purchases filed with the Revenue Commissioners in May 2022, the balance of 652 (17.5%) were new dwellings.

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