Property prices for new dwellings were 1.7% higher in Q3 2020 compared with the same quarter in 2019, while prices for existing dwellings were 1.6% lower, according to new CSO figures.

Prices of new dwellings have risen by 71.6% from their low point in Q2 2013, while prices of existing dwellings are now 82.2% higher compared to their low point in Q2 2012.

The figures show quarterly price indices for new and existing dwellings in Ireland for the first time.

The monthly Residential Property Price Index (RPPI) decreased by 0.8% nationally in the year to September 2020, with prices in Dublin falling by 1.8% and prices outside Dublin rising by 0.1%.

Transactions

In September 2020, there were 3,193 transactions filed with the Revenue Commissioners by households, a fall of 22.2% compared to September 2019, but an increase of 35.4% compared to August 2020.

In the 12 months to September 2020, the lowest median price for a house was €107,000 in Leitrim, while the highest median price within the Dublin region was €535,000 in Dún Laoghaire-Rathdown.

The highest median prices outside of Dublin were in Wicklow (€335,000) and Kildare (€310,000).

Statistician Viacheslav Voronovich said: “This is the first time that the CSO has published indicators on price trends for new and existing dwellings.

“The release shows that property prices for new dwellings were 1.7% higher in the third quarter of 2020 compared with the same quarter in 2019. This contrasts with a price fall of 1.6% for existing dwellings.

Volume

In terms of the volume of properties purchased by households in September 2020, existing dwellings accounted for 2,584 (80.9%) of the transactions filed while the balance of 609 (19.1%) were new dwellings.

Overall, residential property prices decreased by 0.8% nationally in the year to September 2020.

In Dublin, property prices saw a decline of 1.8%, while prices outside Dublin were 0.1% higher.