Property prices unchanged in February – CSO

Residential property prices showed no change in the month of February, according to the latest figures from the Central Statistics Office (CSO).

This compares with a decrease of 0.5% recorded in January and a decrease of 0.4% recorded in February of last year.

In the year to February, residential property prices at a national level, increased by 8.0%. This compares with an increase of 7.6% in January and an increase of 14.9% recorded in the twelve months to February 2015.

In Dublin residential property prices decreased by 0.1% in February and were 4.0% higher than a year ago. Dublin house prices decreased by 0.3% in the month and were 4.0% higher compared to a year earlier. Dublin apartment prices were 4.3% higher when compared with the same month of 2015. However, it should be noted that the sub-indices for apartments are based on low volumes of observed transactions and consequently suffer from greater volatility than other series.

The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) rose by 0.1% in February compared with no change in February of last year. Prices were 11.5% higher than in February 2015.

House prices in Dublin are 35.1% lower than at their highest level in early 2007. Apartments in Dublin are 40.9% lower than they were in February 2007. Residential property prices in Dublin are 36.9% lower than at their highest level in February 2007. The price of residential properties in the Rest of Ireland is 35.2% lower than their highest level in September 2007. Overall, the national index is 33.8% lower than its highest level in 2007.

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