Residential property prices increase 8.1% in Ireland

Residential property prices increased by 8.1% in the 12 months leading up to January, according to the Central Statistics Office (CSO). This marks a rise in housing costs, although the increase is somewhat slower than in previous months. Last August, prices were climbing at a rate of 10.1%. In Dublin, the cost of buying a home went up by 7.5%. Outside the capital, prices rose by 8.6%. The median national price of a dwelling in January was €359,999. Dún Laoghaire-Rathdown had the highest average price at €662,349, while Leitrim had the lowest at €180,000. Despite the slower growth, property prices remain significantly higher than in the past. Present prices are 16.9% above their peak during the property boom in 2007. They are also 160.7% higher than the low point seen in early 2013. According to the CSO, the area with the highest median price over the past year was A94 "Blackrock," at €743,500. H23 "Clones" had the least expensive median price at €133,000. The region with the largest growth in house prices outside Dublin was the Border area, which includes counties like Cavan and Donegal, showing an increase of 12.7%. In contrast, the Mid-East region saw a smaller rise of 5.8%.