Slowest property price growth in Border region

In the year to May 2018, residential property prices at national level increased by 12.4%. This compares with an increase of 13.5% in the year to the end of April and an increase of 10.9% in the twelve months to May 2017.
The figures were contained in the latest house price index from the Central Statistics Office released late last month. The Border region, which includes Cavan, showed the least price growth, with house prices increasing 3.7%.
The report shows that, in Co Cavan, the cheapest property prices by Eircode are in Belturbet with residential properties in the H14 post codes attracting a mean price of €94,387. H12 (Cavan) properties meanwhile were achieving €122,594; H16 (Cootehill) €94,855. By comparison, A82 (Kells) was at €167,476; A81 (Carrickmacross) was €172,133; H18 (Monaghan) €143,073; H23 (Clones) was at just €78,565 and N39 (Longford) had a mean house price in the year to the end of May 2018 of €107,283.
 
Growth in Dublin market
In Dublin, residential property prices increased by 10.7% in the year to May. Dublin house prices increased 10.3%. Apartments in Dublin increased 13.5% in the same period. The highest house price growth was in Dublin City, at 14.6%. In contrast, the lowest growth was in South Dublin, where house prices increased 6.6%.
Residential property prices in the rest of Ireland (excluding Dublin) were 14.1% higher in the year to May. National house prices (excluding those in the capital) increased 13.7% over the period. The mid-west region showed the greatest price growth, with house prices increasing 22.1%. Apartment prices in the rest of Ireland increased 15.5% in the same period. 

 

Overall decline
Overall, the national index is 20.4% lower than its highest level in 2007. Dublin residential property prices are 22.5% lower than their February 2007 peak; while residential property prices outside of the capital are 25.5% lower than their May 2007 peak.

 

Recovery
From the trough in early 2013, prices nationally have increased by 77.7%. Dublin residential property prices have increased 91.9% from their February 2012 low; while residential property prices in the rest of Ireland are 71.4% higher than the trough, which was in May 2013.

 

Mean price by Eircode Area
In the year to May, the most expensive Eircode area for household dwelling purchases was D04 'Dublin 4', with a mean price of €795,753. As with median prices, the 10 most expensive Eircode areas by mean price were all in Dublin. The second most expensive Eircode area was D06 'Dublin 6', where the mean price was €751,481. The third most expensive was A94 'Blackrock', which had a mean price of €675,308.
The least expensive Eircode area within Dublin was D10 'Dublin 10', with a mean price of €216,320.
Outside Dublin the most expensive Eircode area was A63 'Greystones', with a mean dwelling price of €437,306. The second most expensive Eircode area outside Dublin was A98 'Bray', where the mean price was €408,808. The third most expensive was P17 ‘Kinsale', which had a mean price of €378,217.
The least expensive Eircode area over the last 12 months was F35 'Ballyhaunis', with a mean price of €74,213. The second least expensive Eircode area was F45 ‘Castlerea', where the mean price was €78,250. The third least expensive area was H23 'Clones', which had a mean price of €78,565.