It is important to note that the CSO figures are
based on mortage drawdowns,
and are only
accurate to within a margin of error resulting
from the number
of cash buyers, which is still
quite high, going on auction cash sale results
alone.
Nationally, residential property prices increased by 0.5 % during May 2015, and
are almost 14 % higher than they were in May 2014.
Annual Price Change 2011 - 2015
However, in an unexpected twist, Dublin house prices, widely predicted to continue their upwards climb, due to a severe quality housing shortage problem, actually fell by 0.2 % during May 2015, apartment prices rising by 0.4 % in the same month.
Before the May CSO figures were released, and prior to the Central Bank mortgage restrictions, house price inflation in the Dublin area was estimated to be increasing at an annual rate of 20%.
Nationally, excluding Dublin City and the greater Dublin region, residential property prices increased by 11.9 % relative to May 2015 and by 1.1 % during May 2015.
On a national level, residential property prices are 37.5 % lower than the top of the property price bubble in summer in 2007. In Dublin prices are still 38.1 percent below their peak figure of 8 years ago.
This summary, and the graphic above, are based on details published by the CSO and the Irish Times Newspaper.
Find out the current Daft 2018 property asking prices for any location in Ireland, by filling in the boxes below, and clicking the search button.
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