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In the year to July, residential property prices at national level increased by 12.3%. This compares with an increase of 11.5% in the year to June and an increase of 7.1% in the twelve months to July 2016.

In Dublin, residential property prices increased by 12.7% in the year to July. Dublin house prices increased 12.6%. Apartments in Dublin increased 12.0% in the same period. The highest house price growth was in Dublin City, at 13.6%. In contrast, the lowest growth was in Fingal, with house prices rising 7.4%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 11.7% higher in the year to July. House prices in the Rest of Ireland increased 11.8% over the period. The West region showed the greatest price growth, with house prices increasing 15.8%.  The Mid-West region showed the least price growth, with house prices increasing 8.2%. Apartment prices in the Rest of Ireland increased 13.7% in the same period.

Overall Decline

Overall, the national index is 28.1% lower than its highest level in 2007. Dublin residential property prices are 28.4% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 34.3% lower than their May 2007 peak.

Recovery

From the trough in early 2013, prices nationally have increased by 60.5%. In the same period, Dublin residential property prices have increased 77.4% whilst residential property prices in the Rest of Ireland are 51.2% higher.

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