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Home-price growth topped 10% in August

Official figures show that annual growth in the price of residential property topped 10% in August for the first time since September 2022.

The Central Statistics Office (CSO) said that home prices rose by 10.1% compared with August 2023 – up from 9.6% in July.

The latest move means that home-price growth has now been accelerating for 12 months in a row.

Fingal tops Dublin list

Prices jumped at an annual rate of 10.8% in Dublin in August, according to the CSO figures, while prices outside Dublin rose by 9.6% over the year.

Home prices rose by 0.9% during August alone – a smaller rise than the 1.2% recorded in July.

In the 12 months to August, house prices in Dublin rose by 11.6% while apartment prices were up by 7.9%. The highest house-price growth in Dublin was in Fingal at 12.4%.

Border surge

Outside Dublin, house prices were up by 9.5% over the year, while apartment prices rose by 10.1%. The region outside of Dublin that saw the largest rise in house prices was the border (Cavan, Donegal, Leitrim, Monaghan, and Sligo) at 15.1%.

In August, 3,990 home purchases by households at market prices were filed with Revenue – a fall of 14% when compared with the 4,640 recorded in the same month last year. Just over 80% of these involved existing homes.

Households paid a median or mid-point price of €345,000 for a residential property in the 12 months to August 2024.