BY SARAH CANTY
HOUSE prices in the south west have risen by 9.4% over the past year, according to new figures released this week by the Central Statistics Office (CSO).
The CSO said the Residential Property Price Index (RPPI) for the whole country was up 8.6% in the 12 months to June 2024.
The report shows that prices in Dublin rose by 9.3% and prices in the rest of the country rose by 8.2%.
The median price of a dwelling purchased in the 12 months to June 2024 was €337,500.
The lowest median price for a dwelling in the same period was €169,000 in Longford, while the highest median price was €630,000 in Dún Laoghaire-Rathdown.
Commenting on the release, Niall Corkery, statistician in the prices division of the CSO, said the region outside of Dublin that saw the largest rise in house prices was the mid-west (Clare, Limerick, and Tipperary) at 12.0%, while at the other end of the scale, the south east (Carlow, Kilkenny, Waterford, and Wexford) saw a 5.6% rise.’
Rachel McGovern, deputy chief executive at Brokers Ireland said recent data from the CSO also showed a fall of 5.4% to 6,884 in the number of new dwelling completions in Q2 2024 compared with the same three months of 2023.
‘The bottom line is, there are not enough homes available and at affordable prices,’ she said.
She said to make any real impact and reach a situation where home prices stabilise and become more affordable a different, whole-of-government plan is needed.
‘The government’s own Housing Commission report published in May following two-and-a-half year’s work by a panel of experts, provides the best set of solutions so far. However, the jury is still out on when and if the seismic recommendations of that report will be implemented,’ she concluded.
