The rate of average residential property price increases has eased to 3.9% in the year to the end of March, according to the latest national price index from the Central Statistics Office.
This is down from a 5.1% increase in the year to February and the high value of 15.1% in the 12 months to February and March 2022.
Prices in Dublin rose by 1.7% and prices in the rest of the country were up by 5.7% in the same period.
In March 2023, 4,132 dwelling purchases by households at market prices were filed with the Revenue Commissioners, up by 5.4% compared with the 3,921 purchases in March 2022.
The median price of a dwelling purchased in the 12 months to March 2023 was 310,000 euro.
The lowest median price for a house in the 12 months to March 2023 was 154,000 euro in Longford, while the highest median price was 635,000 euro in Dun Laoghaire-Rathdown.
The national index has now reached a value 1.6% above its highest level at the peak of the property boom in April 2007.
Dublin residential property prices are 8.7% lower than their February 2007 peak, while residential property prices in the rest of Ireland are 2.1% higher than their May 2007 peak.
Property prices nationally have increased by 126.6% from their trough in early 2013.
Dublin residential property prices have risen by 126.2% from their February 2012 low, while residential property prices in the rest of Ireland are 134.9% higher than at the trough, which was in May 2013.
CSO prices statistician Viacheslav Voronovich said: “The most expensive Eircode area over the 12 months to March 2023 was A94 Blackrock with a median price of 750,000 euro, while F35 Ballyhaunis had the least expensive price of 126,000 euro.”
The Residential Property Price Index (RPPI) is designed to measure the change in the average level of prices paid by households for residential properties sold in Ireland.
The RPPI specifically excludes non-household purchases, non-market purchases and self-builds (ie where the land is purchased separately).
