New CSO report reveals 15% rise in house prices across Ireland in one year

Residential house prices across Ireland rose by almost 15% in the last year, according to the latest data from the Central Statistics Office (CSO). 

The CSO today (Wednesday March 16) published their Residential Property Price Index (RPPI), which shows a 14.8% rise in house prices nationally between January 2021 and January 2022. 

Prices outside Dublin saw the highest rise at 16%, with homes in the Capital being sold for prices 13.3% higher than a year prior. 

The area outside Dublin that saw the largest rise was the Border at 24.7%, while the Mid-West saw a 13.8% rise. 

According to the CSO, the average cost of houses purchased nationwide in the last year was €280,000. 

The lowest average price between January 2021 and January 2022 was €130,000 in Longford, while the highest average price was €595,000 in Dún Laoghaire-Rathdown. 

In January 2022, a total of 3,517 dwelling purchases by households at market prices were filed with Revenue, an increase of 0.9% compared to the 3,484 purchases in January 2021. 

Existing dwellings accounted for over 80% (or 2,899) of the dwelling purchases filed with the Revenue Commissioners in January 2022, while almost 18% (or 618) were new dwellings.