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Home-price growth eased again in October

Official figures show that annual growth in the price of residential property eased for the second month in a row in October.

The Central Statistics Office (CSO) said that home prices rose by 9.7% compared with October 2023 – down slightly from September’s revised 9.9% growth.

In August, the growth figure had hit 10% for first time since September 2022.

September’s marginal decline had followed 12 consecutive months of accelerating growth.

Dublin growth still tops 10%

Prices jumped at an annual rate of 10.4% in Dublin in October, according to the CSO figures, while prices outside Dublin rose by 9.2% over the year.

Home prices rose by 0.8% during October alone – marginally higher than the 0.7% increase recorded during September.

In the 12 months to October, house prices in Dublin rose by 10.9%, while apartment prices were up by 8.4%. The highest house-price growth in Dublin was in Dublin city at 12.6%.

Border leads increases

Outside Dublin, house prices were up by 9.4% over the year, while apartment prices rose by 5.9%. The region outside of Dublin that saw the largest rise in house prices was the border (Cavan, Donegal, Leitrim, Monaghan, and Sligo) at 14.4%.

In October, 4,881 home purchases by households at market prices were filed with Revenue – a rise of 6% when compared with the 4,604 recorded in the same month last year.

Households paid a median or mid-point price of €350,000 for a residential property in the 12 months to October 2024.