The latest figures from the Central Statistics Office indicate a continued easing of residential property price inflation in Ireland for the third consecutive month in November. The data, released on Wednesday, show an annual increase of 9.4 percent in the residential property price index, a slight reduction from the 9.7 percent rise observed in October. This downward trend follows a peak in August when the rate surged to 10.1 percent.
In November 2023, the inflation rate for residential property prices stood at 3.0 percent. Monthly, property prices experienced a 0.7 percent increase, slightly down from the 0.8 percent growth recorded in October.
Breaking it down regionally, Dublin saw a 9.6 percent year-on-year rise in property prices, while locations outside the capital experienced a 9.2 percent increase. Specifically, house prices in Dublin climbed 9.9 percent, with apartment prices seeing an 8.3 percent increase.
Further details from the report reveal a 3.8 percent decline in dwelling purchases year-on-year in November, totaling 4,443 units. The median price of a home purchased during the 12-month period leading up to November was recorded at EUR 350,000.
