Property price growth has slowed for the fifth consecutive month, new CSO figures reveal.
Residential property prices rose by 10.8% in the 12 months to September 2022, down from 11.9% in the year to August 2022 and 15.3% in the year to February 2022.
Prices continue to rise at a faster rate outside of the capital, with prices in and outside of Dublin rising by 9.4% and 11.9% respectively.
The highest increase in property prices was seen in counties in the west of the nation, up 16.9% from the year before September.
The South-West experienced the lowest growth, at 9.5%, on the other end of the spectrum.
In spite of rising prices, more real estate was bought in September of this year compared to September of previous.
In the ninth month of this year, more than 4,500 homes were bought, up 6.5% from the 4,304 transactions in September 2021.
The median cost of a home was €299,500 in the 12 months leading up to September 2022, a little increase from the average of €295,100 in the 12 months leading up to August 2022.
Commenting on the release, Viacheslav Voronovich, Statistician in the Prices Division, said: “Residential property prices rose by 10.8% in the last 12 months, down from 11.9% in the year to August 2022. In Dublin, residential property prices saw an increase of 9.4%, while property prices outside Dublin were 11.9% higher than a year earlier.
In Dublin, house prices increased by 9.8% and apartment prices were up by 7.5%. The highest house price growth in Dublin was in South Dublin at 11%, while Dublin City saw a rise of 9.2%.
Outside Dublin, house prices were up by 12.1% and apartment prices rose by 9.7%. The region outside of Dublin that saw the largest rise in house prices was the West (Galway, Mayo, Roscommon) at 16.9%, while at the other end of the scale, the South-West (Cork, Kerry) saw a 9.5% rise.
In September 2022, 4,583 dwelling purchases by households at market prices were filed with the Revenue Commissioners, an increase of 6.5% compared with the 4,304 purchases in September 2021.
Households paid a median or mid-point price of €299,500 for a residential property in the 12 months to September 2022. The lowest median price paid for a dwelling was €148,500 in Longford, while the highest was €615,000 in Dún Laoghaire-Rathdown.
The most expensive Eircode area over the last 12 months was A94 'Blackrock', with a median price of €725,000, while F35 'Ballyhaunis' was the least expensive at €125,000.READ MORE"
Longford had the lowest median price paid for a home at €148,500, while Dn Laoghaire-Rathdown had the highest at €615,000. Nationally, residential prices have increased by 128.8% since their low point in early 2013.
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