Property prices up 8% in year to end of february
Residential Pr
operty Price Index
February 2016
Price Index (Jan 2005=100) Monthly % change Annual % change
Dec 2015 86.8 0.5% 6.6%
Jan 2016 86.4 -0.5% 7.6%
Feb 2016 86.4 0.0% 8.0%
In the year to February, housing property prices at a national level, increased by 8.0%. This compares with a growth of 7.6% in January and an growth of 14.9% logged in the twelve months to February 2015.
Housing property prices showed no change in the month of February. This compares with a decrease of 0.5% recorded in January and a decrease of 0.4% recorded in February of last year.
In Dublin housing property prices decreased by 0.1% in February and were 4.0% higher than a year ago. Dublin house prices decreased by 0.3% in the month and were 4.0% higher compared to a year earlier. Dublin apartment prices were 4.3% higher when compared with the same month of 2015. Nevertheless, it should be noted that the sub-indices for apartments are adapted on low volumes of observed transactions and consequently suffer from greater volatility than other series.
The price of housing properties in the Rest of Ireland (i.e. excluding Dublin) rose by 0.1% in February compared with no change in February of last year. Prices were 11.5% higher than in February 2015.
House prices in Dublin are 35.1% lower than at their highest level in early 2007. Apartments in Dublin are 40.9% lower than they were in February 2007. Residential property prices in Dublin are 36.9% lower than at their highest level in February 2007. The price of residential properties in the Rest of Ireland is 35.2% lower than their highest level in September 2007. Overall, the national index is 33.8% lower than its highest level in 2007.
