Residential Property Price Index August 2024 – What the Latest CSO Report Means for You
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The Central Statistics Office (CSO) has just released its Residential Property Price Index (RPPI) for August 2024, showing a mixed picture for Ireland’s property market. Here’s a closer look at what’s happening and what it could mean for buyers, sellers, and investors.
Key Takeaways:
Prices Keep Climbing: National property prices increased by 10.1% over the 12 months to August 2024, up from the 9.6% rise in July. In Dublin, prices rose even faster, with an increase of 10.8%, driven by a strong 11.6% jump in house prices.?
Dublin vs. Outside Dublin: Outside the capital, property prices still saw a healthy increase of 9.6%. House prices in the Border region (including Cavan, Donegal, and Sligo) grew the most, with a 15.1% jump, while the Mid-East region (Kildare, Louth, Meath, and Wicklow) saw a more modest 8% rise.
Median Prices:
- The median price for a home over the past year was €345,000. The least expensive area was Longford, with a median price of €175,000, while Dún Laoghaire-Rathdown topped the list at €635,000.?
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- The Dublin 6 (D06) area was the priciest with a median price of €725,000, while Clones (H23) in Monaghan offered the most affordable homes, with a median of €135,000.
What Does This Mean for You?
The property market is seeing rising prices but fewer transactions, which might be a sign of affordability challenges for buyers. However, with demand still high, especially in certain areas, prices are likely to stay strong in the near future.
Whether you’re looking to buy, sell, or invest, this is an important time to have the right support. At Doran Estates, our expert team can help you navigate these changes and make the most of your property journey. We’re here to provide guidance, whether you’re entering the market for the first time or managing a property portfolio.
Get in touch with Doran Estates today to learn more about how we can assist you in making the best property decisions in this ever-changing market.