Professional Documents
Culture Documents
24 July 2012
Jun
06
Jun
07
Jun
08
Jun Jun
09
10
Jun
11
Jun
12
National
Excluding Dublin
Apr 2012
May 2012
Jun 2012
Price Index
(Jan 2005 =100)
Monthly
% change
Annual
% change
65.4
65.5
64.8
-1.1%
+0.2%
-1.1%
-16.4%
-15.3%
-14.4%
Dublin
Residential property prices fell by 1.1% in the month of June. This compares with
an increase of 0.2% recorded in May and a decline of 2.1% recorded in June of last
year. See Table 1.
Published by the Central Statistics Office, Ireland.
Ardee Road
Dublin 6
Ireland
Skehard Road
Cork
Ireland
LoCall: 1890 313 414 (ROI)
0870 876 0256 (UK/NI)
In Dublin residential property prices fell by 1% in June and were 16.4% lower than
a year ago. Dublin house prices decreased by 0.8% in the month and were 16.4%
lower compared to a year earlier. Dublin apartment prices were 17.9% lower when
compared with the same month of 2011. See Tables 6, 7 and 8.
The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) fell
by 1% in June compared with a decline of 1.9% in June last year. Prices were
13.5% lower than in June 2011. See Table 4.
Overall Decline
House prices in Dublin are 56% lower than at their highest level in early 2007.
Apartments in Dublin are 62% lower than they were in February 2007. Residential
property prices in Dublin are 57% lower than at their highest level in February
2007. The fall in the price of residential properties in the Rest of Ireland is
somewhat lower at 47%. Overall, the national index is 50% lower than its highest
level in 2007. See Tables 7, 8, 6, 4 and 1.
General queries
Table 1
Period
1 month
3 months
12 months
2005
2006
2007
2008
2009
2010
2011
Year
Year
Year
Year
Year
Year
Year
104.6
119.8
130.0
122.3
99.9
86.8
75.4
2005
January
February
March
April
May
June
July
August
September
October
November
December
100.0
100.4
100.6
101.3
102.0
102.9
104.3
105.9
107.2
109.0
110.0
111.5
0.4
0.2
0.7
0.7
0.9
1.4
1.5
1.2
1.7
0.9
1.4
1.3
1.6
2.3
3.0
3.8
4.2
4.5
3.9
4.0
2006
January
February
March
April
May
June
July
August
September
October
November
December
111.8
112.6
113.1
114.6
116.8
119.0
121.3
123.5
125.1
126.0
126.1
127.3
0.3
0.7
0.4
1.3
1.9
1.9
1.9
1.8
1.3
0.7
0.1
1.0
2.6
2.4
1.4
2.5
3.7
5.2
5.8
5.7
5.1
3.9
2.1
1.8
11.8
12.2
12.4
13.1
14.5
15.6
16.3
16.6
16.7
15.6
14.6
14.2
2007
January
February
March
April
May
June
July
August
September
October
November
December
128.4
129.6
129.9
130.3
130.2
130.2
130.2
130.4
130.5
130.1
130.1
129.5
0.9
0.9
0.2
0.3
-0.1
0.0
0.0
0.2
0.1
-0.3
0.0
-0.5
1.9
2.8
2.0
1.5
0.5
0.2
-0.1
0.2
0.2
-0.1
-0.2
-0.8
14.8
15.1
14.9
13.7
11.5
9.4
7.3
5.6
4.3
3.3
3.2
1.7
14.5
8.5
-5.9
-18.3
-13.1
-13.2
Table 1
Period
1 month
3 months
12 months
2008
January
February
March
April
May
June
July
August
September
October
November
December
128.7
127.6
126.6
125.7
124.6
123.4
122.5
121.5
120.1
117.7
115.7
113.5
%
-0.6
-0.9
-0.8
-0.7
-0.9
-1.0
-0.7
-0.8
-1.2
-2.0
-1.7
-1.9
%
-1.1
-1.9
-2.2
-2.3
-2.4
-2.5
-2.5
-2.5
-2.7
-3.9
-4.8
-5.5
%
0.2
-1.5
-2.5
-3.5
-4.3
-5.2
-5.9
-6.8
-8.0
-9.5
-11.1
-12.4
2009
January
February
March
April
May
June
July
August
September
October
November
December
111.3
108.5
105.6
103.3
101.1
99.2
97.5
96.2
95.5
94.4
93.9
92.4
-1.9
-2.5
-2.7
-2.2
-2.1
-1.9
-1.7
-1.3
-0.7
-1.2
-0.5
-1.6
-5.4
-6.2
-7.0
-7.2
-6.8
-6.1
-5.6
-4.8
-3.7
-3.2
-2.4
-3.2
-13.5
-15.0
-16.6
-17.8
-18.9
-19.6
-20.4
-20.8
-20.5
-19.8
-18.8
-18.6
2010
January
February
March
April
May
June
July
August
September
October
November
December
91.6
90.1
89.7
89.1
88.0
86.9
85.8
85.8
84.9
83.9
83.1
82.7
-0.9
-1.6
-0.4
-0.7
-1.2
-1.2
-1.3
0.0
-1.0
-1.2
-1.0
-0.5
-3.0
-4.0
-2.9
-2.7
-2.3
-3.1
-3.7
-2.5
-2.3
-2.2
-3.1
-2.6
-17.7
-17.0
-15.1
-13.7
-13.0
-12.4
-12.0
-10.8
-11.1
-11.1
-11.5
-10.5
2011
January
February
March
April
May
June
July
August
September
October
November
December
81.8
80.4
79.0
78.2
77.3
75.7
75.1
73.9
72.8
71.2
70.1
68.9
-1.1
-1.7
-1.7
-1.0
-1.2
-2.1
-0.8
-1.6
-1.5
-2.2
-1.5
-1.7
-2.5
-3.2
-4.5
-4.4
-3.9
-4.2
-4.0
-4.4
-3.8
-5.2
-5.1
-5.4
-10.7
-10.8
-11.9
-12.2
-12.2
-12.9
-12.5
-13.9
-14.3
-15.1
-15.6
-16.7
2012
January
February
March
April
May
June
67.6
66.1
66.1
65.4
65.5
64.8
-1.9
-2.2
0.0
-1.1
0.2
-1.1
-5.1
-5.7
-4.1
-3.3
-0.9
-2.0
-17.4
-17.8
-16.3
-16.4
-15.3
-14.4
Table 2
National - houses
Percentage changes
Period
1 month
3 months
12 months
2005
2006
2007
2008
2009
2010
2011
Year
Year
Year
Year
Year
Year
Year
105.0
120.5
131.2
124.0
102.7
90.1
78.4
2005
January
February
March
April
May
June
July
August
September
October
November
December
100.0
100.5
100.8
101.6
102.3
103.4
105.0
106.6
107.8
109.5
110.5
112.0
0.5
0.3
0.8
0.7
1.1
1.5
1.5
1.1
1.6
0.9
1.4
1.6
1.8
2.6
3.3
4.2
4.3
4.3
3.7
3.9
2006
January
February
March
April
May
June
July
August
September
October
November
December
112.4
113.1
113.8
115.2
117.4
119.7
122.2
124.4
125.9
126.8
126.9
128.3
0.4
0.6
0.6
1.2
1.9
2.0
2.1
1.8
1.2
0.7
0.1
1.1
2.6
2.4
1.6
2.5
3.8
5.2
6.1
6.0
5.2
3.8
2.0
1.9
12.4
12.5
12.9
13.4
14.8
15.8
16.4
16.7
16.8
15.8
14.8
14.6
2007
January
February
March
April
May
June
July
August
September
October
November
December
129.3
130.5
130.9
131.7
131.5
131.4
131.4
131.7
132.0
131.4
131.6
130.8
0.8
0.9
0.3
0.6
-0.2
-0.1
0.0
0.2
0.2
-0.5
0.2
-0.6
2.0
2.8
2.0
1.9
0.8
0.4
-0.2
0.2
0.5
0.0
-0.1
-0.9
15.0
15.4
15.0
14.3
12.0
9.8
7.5
5.9
4.8
3.6
3.7
1.9
14.8
8.9
-5.5
-17.2
-12.3
-12.9
Table 2
Period
1 month
3 months
12 months
2008
January
February
March
April
May
June
July
August
September
October
November
December
130.1
128.8
127.7
126.9
126.0
125.1
124.3
123.2
121.9
120.0
118.2
116.2
%
-0.5
-1.0
-0.9
-0.6
-0.7
-0.7
-0.6
-0.9
-1.1
-1.6
-1.5
-1.7
%
-1.0
-2.1
-2.4
-2.5
-2.2
-2.0
-2.0
-2.2
-2.6
-3.5
-4.1
-4.7
%
0.6
-1.3
-2.4
-3.6
-4.2
-4.8
-5.4
-6.5
-7.7
-8.7
-10.2
-11.2
2009
January
February
March
April
May
June
July
August
September
October
November
December
113.8
111.0
108.2
106.0
103.6
101.9
100.1
99.0
98.6
97.7
97.2
95.4
-2.1
-2.5
-2.5
-2.0
-2.3
-1.6
-1.8
-1.1
-0.4
-0.9
-0.5
-1.9
-5.2
-6.1
-6.9
-6.9
-6.7
-5.8
-5.6
-4.4
-3.2
-2.4
-1.8
-3.2
-12.5
-13.8
-15.3
-16.5
-17.8
-18.5
-19.5
-19.6
-19.1
-18.6
-17.8
-17.9
2010
January
February
March
April
May
June
July
August
September
October
November
December
94.7
93.3
92.9
92.4
91.1
90.0
89.0
89.1
88.3
87.3
86.5
86.0
-0.7
-1.5
-0.4
-0.5
-1.4
-1.2
-1.1
0.1
-0.9
-1.1
-0.9
-0.6
-3.1
-4.0
-2.6
-2.4
-2.4
-3.1
-3.7
-2.2
-1.9
-1.9
-2.9
-2.6
-16.8
-15.9
-14.1
-12.8
-12.1
-11.7
-11.1
-10.0
-10.4
-10.6
-11.0
-9.9
2011
January
February
March
April
May
June
July
August
September
October
November
December
84.9
83.5
82.2
81.3
80.4
78.6
78.1
77.0
76.0
74.3
72.9
71.7
-1.3
-1.6
-1.6
-1.1
-1.1
-2.2
-0.6
-1.4
-1.3
-2.2
-1.9
-1.6
-2.7
-3.5
-4.4
-4.2
-3.7
-4.4
-3.9
-4.2
-3.3
-4.9
-5.3
-5.7
-10.3
-10.5
-11.5
-12.0
-11.7
-12.7
-12.2
-13.6
-13.9
-14.9
-15.7
-16.6
2012
January
February
March
April
May
June
70.4
69.0
68.9
68.1
68.2
67.6
-1.8
-2.0
-0.1
-1.2
0.1
-0.9
-5.2
-5.3
-3.9
-3.3
-1.2
-1.9
-17.1
-17.4
-16.2
-16.2
-15.2
-14.0
National - apartments
Percentage changes
RPPI current base
Jan. 2005 = 100
1 month
3 months
12 months
Year
Year
Year
Year
Year
Year
Year
102.1
115.1
122.1
112.4
85.0
69.1
57.8
January
February
March
April
May
June
July
August
September
October
November
December
100.0
100.1
99.9
99.7
99.7
99.6
100.0
101.5
103.8
106.2
106.9
108.3
0.1
-0.2
-0.2
0.0
-0.1
0.4
1.5
2.3
2.3
0.7
1.3
-0.3
-0.4
-0.3
0.3
1.8
4.2
6.2
5.3
4.3
January
February
March
April
May
June
July
August
September
October
November
December
108.4
109.1
109.0
111.0
112.9
114.7
115.7
117.8
119.9
120.9
120.7
120.8
0.1
0.6
-0.1
1.8
1.7
1.6
0.9
1.8
1.8
0.8
-0.2
0.1
2.1
2.1
0.6
2.4
3.5
5.2
4.2
4.3
4.5
4.5
2.5
0.8
8.4
9.0
9.1
11.3
13.2
15.2
15.7
16.1
15.5
13.8
12.9
11.5
January
February
March
April
May
June
July
August
September
October
November
December
122.5
123.9
123.2
121.6
121.7
122.5
123.0
122.1
121.5
121.5
120.7
121.3
1.4
1.1
-0.6
-1.3
0.1
0.7
0.4
-0.7
-0.5
0.0
-0.7
0.5
1.3
2.7
2.0
-0.7
-1.8
-0.6
1.2
0.3
-0.8
-1.2
-1.1
-0.2
13.0
13.6
13.0
9.5
7.8
6.8
6.3
3.7
1.3
0.5
0.0
0.4
12.7
6.1
-8.0
-24.4
-18.7
-16.3
Table 3
Period
1 month
3 months
12 months
2008
January
February
March
April
May
June
July
August
September
October
November
December
120.3
120.1
119.5
118.5
116.0
113.5
112.4
111.7
109.9
105.3
102.1
99.3
%
-0.8
-0.2
-0.5
-0.8
-2.1
-2.2
-1.0
-0.6
-1.6
-4.2
-3.0
-2.7
%
-1.0
-0.5
-1.5
-1.5
-3.4
-5.0
-5.1
-3.7
-3.2
-6.3
-8.6
-9.6
%
-1.8
-3.1
-3.0
-2.5
-4.7
-7.3
-8.6
-8.5
-9.5
-13.3
-15.4
-18.1
2009
January
February
March
April
May
June
July
August
September
October
November
December
97.8
94.8
91.9
89.0
87.4
85.0
83.9
81.4
79.0
77.2
76.6
76.0
-1.5
-3.1
-3.1
-3.2
-1.8
-2.7
-1.3
-3.0
-2.9
-2.3
-0.8
-0.8
-7.1
-7.1
-7.5
-9.0
-7.8
-7.5
-5.7
-6.9
-7.1
-8.0
-5.9
-3.8
-18.7
-21.1
-23.1
-24.9
-24.7
-25.1
-25.4
-27.1
-28.1
-26.7
-25.0
-23.5
2010
January
February
March
April
May
June
July
August
September
October
November
December
75.1
73.1
71.9
71.3
71.2
70.7
68.3
67.2
65.7
65.1
64.5
64.7
-1.2
-2.7
-1.6
-0.8
-0.1
-0.7
-3.4
-1.6
-2.2
-0.9
-0.9
0.3
-2.7
-4.6
-5.4
-5.1
-2.6
-1.7
-4.2
-5.6
-7.1
-4.7
-4.0
-1.5
-23.2
-22.9
-21.8
-19.9
-18.5
-16.8
-18.6
-17.4
-16.8
-15.7
-15.8
-14.9
2011
January
February
March
April
May
June
July
August
September
October
November
December
64.7
63.5
61.0
60.4
60.0
59.4
57.6
54.9
53.2
52.2
53.6
53.5
0.0
-1.9
-3.9
-1.0
-0.7
-1.0
-3.0
-4.7
-3.1
-1.9
2.7
-0.2
-0.6
-1.6
-5.7
-6.6
-5.5
-2.6
-4.6
-8.5
-10.4
-9.4
-2.4
0.6
-13.8
-13.1
-15.2
-15.3
-15.7
-16.0
-15.7
-18.3
-19.0
-19.8
-16.9
-17.3
2012
January
February
March
April
May
June
51.2
48.4
48.6
49.6
48.6
47.6
-4.3
-5.5
0.4
2.1
-2.0
-2.1
-1.9
-9.7
-9.2
-3.1
0.4
-2.1
-20.9
-23.8
-20.3
-17.9
-19.0
-19.9
Table 4
Period
1 month
3 months
12 months
2005
2006
2007
2008
2009
2010
2011
Year
Year
Year
Year
Year
Year
Year
104.0
117.2
128.0
122.1
102.8
90.5
79.1
2005
January
February
March
April
May
June
July
August
September
October
November
December
100.0
100.1
100.3
100.9
101.5
102.6
104.0
105.6
106.5
107.9
108.6
110.3
0.1
0.2
0.6
0.6
1.1
1.4
1.5
0.9
1.3
0.6
1.6
0.9
1.4
2.3
3.1
4.0
3.8
3.8
2.8
3.6
2006
January
February
March
April
May
June
July
August
September
October
November
December
110.7
111.2
111.6
112.7
114.7
116.4
118.1
119.8
121.5
122.5
122.9
124.0
0.4
0.5
0.4
1.0
1.8
1.5
1.5
1.4
1.4
0.8
0.3
0.9
2.6
2.4
1.2
1.8
3.1
4.3
4.8
4.4
4.4
3.7
2.6
2.1
10.7
11.1
11.3
11.7
13.0
13.5
13.6
13.4
14.1
13.5
13.2
12.4
2007
January
February
March
April
May
June
July
August
September
October
November
December
125.6
126.9
127.7
128.1
128.7
128.4
128.5
128.5
128.8
128.3
128.6
128.4
1.3
1.0
0.6
0.3
0.5
-0.2
0.1
0.0
0.2
-0.4
0.2
-0.2
2.5
3.3
3.0
2.0
1.4
0.5
0.3
-0.2
0.3
-0.2
0.1
-0.3
13.5
14.1
14.4
13.7
12.2
10.3
8.8
7.3
6.0
4.7
4.6
3.5
12.6
9.3
-4.7
-15.8
-11.9
-12.6
Table 4
Period
1 month
3 months
12 months
2008
January
February
March
April
May
June
July
August
September
October
November
December
128.5
127.3
126.3
124.8
123.3
122.1
121.4
120.8
120.2
118.4
117.0
114.7
%
0.1
-0.9
-0.8
-1.2
-1.2
-1.0
-0.6
-0.5
-0.5
-1.5
-1.2
-2.0
%
0.2
-1.0
-1.6
-2.9
-3.1
-3.3
-2.7
-2.0
-1.6
-2.5
-3.1
-4.6
%
2.3
0.3
-1.1
-2.6
-4.2
-4.9
-5.5
-6.0
-6.7
-7.7
-9.0
-10.7
2009
January
February
March
April
May
June
July
August
September
October
November
December
112.7
110.4
108.2
106.6
104.4
102.4
100.4
98.7
98.1
97.3
97.6
96.2
-1.7
-2.0
-2.0
-1.5
-2.1
-1.9
-2.0
-1.7
-0.6
-0.8
0.3
-1.4
-4.8
-5.6
-5.7
-5.4
-5.4
-5.4
-5.8
-5.5
-4.2
-3.1
-1.1
-1.9
-12.3
-13.3
-14.3
-14.6
-15.3
-16.1
-17.3
-18.3
-18.4
-17.8
-16.6
-16.1
2010
January
February
March
April
May
June
July
August
September
October
November
December
95.9
94.1
93.4
92.9
91.8
90.6
89.2
89.4
88.5
87.4
86.7
86.3
-0.3
-1.9
-0.7
-0.5
-1.2
-1.3
-1.5
0.2
-1.0
-1.2
-0.8
-0.5
-1.4
-3.6
-2.9
-3.1
-2.4
-3.0
-4.0
-2.6
-2.3
-2.0
-3.0
-2.5
-14.9
-14.8
-13.7
-12.9
-12.1
-11.5
-11.2
-9.4
-9.8
-10.2
-11.2
-10.3
2011
January
February
March
April
May
June
July
August
September
October
November
December
85.7
84.4
83.1
82.0
80.3
78.8
77.8
77.6
76.8
75.3
74.1
73.3
-0.7
-1.5
-1.5
-1.3
-2.1
-1.9
-1.3
-0.3
-1.0
-2.0
-1.6
-1.1
-1.9
-2.7
-3.7
-4.3
-4.9
-5.2
-5.1
-3.4
-2.5
-3.2
-4.5
-4.6
-10.6
-10.3
-11.0
-11.7
-12.5
-13.0
-12.8
-13.2
-13.2
-13.8
-14.5
-15.1
2012
January
February
March
April
May
June
72.8
70.6
70.2
68.8
68.9
68.2
-0.7
-3.0
-0.6
-2.0
0.1
-1.0
-3.3
-4.7
-4.2
-5.5
-2.4
-2.8
-15.1
-16.4
-15.5
-16.1
-14.2
-13.5
Table 5
Period
1 month
3 months
12 months
2005
2006
2007
2008
2009
2010
2011
Year
Year
Year
Year
Year
Year
Year
104.4
117.7
128.8
122.9
104.1
92.1
80.6
2005
January
February
March
April
May
June
July
August
September
October
November
December
100.0
100.3
100.6
101.2
101.9
103.1
104.7
106.2
107.1
108.3
109.1
110.7
0.3
0.3
0.6
0.7
1.2
1.6
1.4
0.8
1.1
0.7
1.5
1.2
1.6
2.5
3.5
4.2
3.9
3.4
2.7
3.4
2006
January
February
March
April
May
June
July
August
September
October
November
December
111.1
111.6
112.0
113.2
115.3
117.0
118.7
120.4
122.1
123.0
123.4
124.7
0.4
0.5
0.4
1.1
1.9
1.5
1.5
1.4
1.4
0.7
0.3
1.1
2.6
2.3
1.2
1.9
3.3
4.5
4.9
4.4
4.4
3.6
2.5
2.1
11.1
11.3
11.3
11.9
13.2
13.5
13.4
13.4
14.0
13.6
13.1
12.6
2007
January
February
March
April
May
June
July
August
September
October
November
December
126.4
127.6
128.4
128.9
129.4
129.1
129.2
129.3
129.7
129.0
129.3
129.1
1.4
0.9
0.6
0.4
0.4
-0.2
0.1
0.1
0.3
-0.5
0.2
-0.2
2.8
3.4
3.0
2.0
1.4
0.5
0.2
-0.1
0.5
-0.2
0.0
-0.5
13.8
14.3
14.6
13.9
12.2
10.3
8.8
7.4
6.2
4.9
4.8
3.5
12.7
9.4
-4.5
-15.3
-11.5
-12.5
10
Table 5
Period
1 month
3 months
12 months
2008
January
February
March
April
May
June
July
August
September
October
November
December
129.5
128.4
127.3
125.6
124.2
122.9
122.2
121.5
120.9
119.2
117.9
115.7
%
0.3
-0.8
-0.9
-1.3
-1.1
-1.0
-0.6
-0.6
-0.5
-1.4
-1.1
-1.9
%
0.4
-0.7
-1.4
-3.0
-3.3
-3.5
-2.7
-2.2
-1.6
-2.5
-3.0
-4.3
%
2.5
0.6
-0.9
-2.6
-4.0
-4.8
-5.4
-6.0
-6.8
-7.6
-8.8
-10.4
2009
January
February
March
April
May
June
July
August
September
October
November
December
113.8
111.4
109.3
107.7
105.6
103.9
101.7
100.1
99.6
98.9
99.2
97.8
-1.6
-2.1
-1.9
-1.5
-1.9
-1.6
-2.1
-1.6
-0.5
-0.7
0.3
-1.4
-4.5
-5.5
-5.5
-5.4
-5.2
-4.9
-5.6
-5.2
-4.1
-2.8
-0.9
-1.8
-12.1
-13.2
-14.1
-14.3
-15.0
-15.5
-16.8
-17.6
-17.6
-17.0
-15.9
-15.5
2010
January
February
March
April
May
June
July
August
September
October
November
December
97.5
95.6
95.0
94.5
93.3
92.1
90.7
90.9
90.1
89.0
88.3
87.9
-0.3
-1.9
-0.6
-0.5
-1.3
-1.3
-1.5
0.2
-0.9
-1.2
-0.8
-0.5
-1.4
-3.6
-2.9
-3.1
-2.4
-3.1
-4.0
-2.6
-2.2
-1.9
-2.9
-2.4
-14.3
-14.2
-13.1
-12.3
-11.6
-11.4
-10.8
-9.2
-9.5
-10.0
-11.0
-10.1
2011
January
February
March
April
May
June
July
August
September
October
November
December
87.1
86.0
84.7
83.5
81.9
80.3
79.3
79.1
78.2
76.8
75.6
74.7
-0.9
-1.3
-1.5
-1.4
-1.9
-2.0
-1.2
-0.3
-1.1
-1.8
-1.6
-1.2
-2.1
-2.6
-3.6
-4.1
-4.8
-5.2
-5.0
-3.4
-2.6
-3.2
-4.4
-4.5
-10.7
-10.0
-10.8
-11.6
-12.2
-12.8
-12.6
-13.0
-13.2
-13.7
-14.4
-15.0
2012
January
February
March
April
May
June
74.3
72.2
71.8
70.3
70.4
69.7
-0.5
-2.8
-0.6
-2.1
0.1
-1.0
-3.3
-4.5
-3.9
-5.4
-2.5
-2.9
-14.7
-16.0
-15.2
-15.8
-14.0
-13.2
11
Table 6
Period
1 month
3 months
12 months
2005
2006
2007
2008
2009
2010
2011
Year
Year
Year
Year
Year
Year
Year
105.7
124.4
133.3
122.4
93.8
78.9
67.9
2005
January
February
March
April
May
June
July
August
September
October
November
December
100.0
101.1
101.2
102.2
102.8
103.5
104.7
106.4
108.5
111.1
112.6
113.7
1.1
0.1
1.0
0.6
0.7
1.2
1.6
2.0
2.4
1.4
1.0
2.2
1.7
2.3
2.4
3.5
4.8
6.1
5.8
4.8
2006
January
February
March
April
May
June
July
August
September
October
November
December
113.9
114.9
116.0
117.9
120.5
123.6
127.0
130.3
131.6
132.4
131.9
133.1
0.2
0.9
1.0
1.6
2.2
2.6
2.8
2.6
1.0
0.6
-0.4
0.9
2.5
2.0
2.0
3.5
4.9
6.6
7.7
8.1
6.5
4.3
1.2
1.1
13.9
13.6
14.6
15.4
17.2
19.4
21.3
22.5
21.3
19.2
17.1
17.1
2007
January
February
March
April
May
June
July
August
September
October
November
December
133.4
134.5
133.9
134.0
132.7
133.4
133.3
133.6
133.5
133.1
132.7
131.2
0.2
0.8
-0.4
0.1
-1.0
0.5
-0.1
0.2
-0.1
-0.3
-0.3
-1.1
0.8
2.0
0.6
0.4
-1.3
-0.4
-0.5
0.7
0.1
-0.2
-0.7
-1.7
17.1
17.1
15.4
13.7
10.1
7.9
5.0
2.5
1.4
0.5
0.6
-1.4
17.8
7.1
-8.2
-23.4
-15.8
-14.0
12
Table 6
Period
1 month
3 months
12 months
2008
January
February
March
April
May
June
July
August
September
October
November
December
128.6
127.7
126.9
127.4
126.9
125.9
124.4
122.5
119.5
116.0
112.5
110.6
%
-2.0
-0.7
-0.6
0.4
-0.4
-0.8
-1.2
-1.5
-2.4
-2.9
-3.0
-1.7
%
-3.4
-3.8
-3.3
-0.9
-0.6
-0.8
-2.4
-3.5
-5.1
-6.8
-8.2
-7.4
%
-3.6
-5.1
-5.2
-4.9
-4.4
-5.6
-6.7
-8.3
-10.5
-12.8
-15.2
-15.7
2009
January
February
March
April
May
June
July
August
September
October
November
December
108.1
104.1
100.0
96.1
94.1
92.4
91.4
90.7
89.8
88.2
86.2
84.2
-2.3
-3.7
-3.9
-3.9
-2.1
-1.8
-1.1
-0.8
-1.0
-1.8
-2.3
-2.3
-6.8
-7.5
-9.6
-11.1
-9.6
-7.6
-4.9
-3.6
-2.8
-3.5
-5.0
-6.2
-15.9
-18.5
-21.2
-24.6
-25.8
-26.6
-26.5
-26.0
-24.9
-24.0
-23.4
-23.9
2010
January
February
March
April
May
June
July
August
September
October
November
December
82.7
81.8
81.6
81.0
80.0
79.1
78.4
78.1
77.1
76.5
75.5
75.2
-1.8
-1.1
-0.2
-0.7
-1.2
-1.1
-0.9
-0.4
-1.3
-0.8
-1.3
-0.4
-6.2
-5.1
-3.1
-2.1
-2.2
-3.1
-3.2
-2.4
-2.5
-2.4
-3.3
-2.5
-23.5
-21.4
-18.4
-15.7
-15.0
-14.4
-14.2
-13.9
-14.1
-13.3
-12.4
-10.7
2011
January
February
March
April
May
June
July
August
September
October
November
December
73.9
72.3
71.0
70.5
70.8
69.1
69.1
66.5
65.1
63.1
62.2
60.7
-1.7
-2.2
-1.8
-0.7
0.4
-2.4
0.0
-3.8
-2.1
-3.1
-1.4
-2.4
-3.4
-4.2
-5.6
-4.6
-2.1
-2.7
-2.0
-6.1
-5.8
-8.7
-6.5
-6.8
-10.6
-11.6
-13.0
-13.0
-11.5
-12.6
-11.9
-14.9
-15.6
-17.5
-17.6
-19.3
2012
January
February
March
April
May
June
58.3
57.6
58.0
58.3
58.4
57.8
-4.0
-1.2
0.7
0.5
0.2
-1.0
-7.6
-7.4
-4.4
0.0
1.4
-0.3
-21.1
-20.3
-18.3
-17.3
-17.5
-16.4
13
Table 7
Dublin - houses
Percentage changes
Period
1 month
3 months
12 months
2005
2006
2007
2008
2009
2010
2011
Year
Year
Year
Year
Year
Year
Year
106.2
126.7
136.3
126.3
98.1
83.6
72.1
2005
January
February
March
April
May
June
July
August
September
October
November
December
100.0
100.8
101.2
102.4
103.4
104.2
105.6
107.3
109.4
112.0
113.7
114.9
0.8
0.4
1.2
1.0
0.8
1.3
1.6
2.0
2.4
1.5
1.1
2.4
2.6
3.0
3.1
3.8
5.0
6.1
6.0
5.0
2006
January
February
March
April
May
June
July
August
September
October
November
December
115.2
116.4
117.8
119.4
122.1
125.6
129.9
133.3
134.4
135.3
134.6
136.2
0.3
1.0
1.2
1.4
2.3
2.9
3.4
2.6
0.8
0.7
-0.5
1.2
2.9
2.4
2.5
3.6
4.9
6.6
8.8
9.2
7.0
4.2
1.0
1.3
15.2
15.5
16.4
16.6
18.1
20.5
23.0
24.2
22.9
20.8
18.4
18.5
2007
January
February
March
April
May
June
July
August
September
October
November
December
135.7
136.7
136.4
137.8
135.9
136.6
135.9
136.8
136.9
136.6
136.7
134.1
-0.4
0.7
-0.2
1.0
-1.4
0.5
-0.5
0.7
0.1
-0.2
0.1
-1.9
0.3
1.6
0.1
1.5
-0.6
0.1
-1.4
0.7
0.2
0.5
-0.1
-2.0
17.8
17.4
15.8
15.4
11.3
8.8
4.6
2.6
1.9
1.0
1.6
-1.5
19.2
7.6
-7.4
-22.3
-14.8
-13.7
14
Table 7
Period
1 month
3 months
12 months
2008
January
February
March
April
May
June
July
August
September
October
November
December
130.6
128.9
128.2
129.6
130.6
130.7
129.3
127.1
123.9
121.4
118.3
116.7
%
-2.6
-1.3
-0.5
1.1
0.8
0.1
-1.1
-1.7
-2.5
-2.0
-2.6
-1.4
%
-4.4
-5.7
-4.4
-0.8
1.3
2.0
-0.2
-2.7
-5.2
-6.1
-6.9
-5.8
%
-3.8
-5.7
-6.0
-6.0
-3.9
-4.3
-4.9
-7.1
-9.5
-11.1
-13.5
-13.0
2009
January
February
March
April
May
June
July
August
September
October
November
December
113.2
108.9
104.4
100.2
97.5
95.6
94.8
95.1
95.2
93.7
90.9
88.2
-3.0
-3.8
-4.1
-4.0
-2.7
-1.9
-0.8
0.3
0.1
-1.6
-3.0
-3.0
-6.8
-7.9
-10.5
-11.5
-10.5
-8.4
-5.4
-2.5
-0.4
-1.2
-4.4
-7.4
-13.3
-15.5
-18.6
-22.7
-25.3
-26.9
-26.7
-25.2
-23.2
-22.8
-23.2
-24.4
2010
January
February
March
April
May
June
July
August
September
October
November
December
86.5
86.3
86.3
85.7
84.3
83.2
83.1
83.2
82.4
81.5
80.6
79.9
-1.9
-0.2
0.0
-0.7
-1.6
-1.3
-0.1
0.1
-1.0
-1.1
-1.1
-0.9
-7.7
-5.1
-2.2
-0.9
-2.3
-3.6
-3.0
-1.3
-1.0
-1.9
-3.1
-3.0
-23.6
-20.8
-17.3
-14.5
-13.5
-13.0
-12.3
-12.5
-13.4
-13.0
-11.3
-9.4
2011
January
February
March
April
May
June
July
August
September
October
November
December
78.4
76.4
75.2
74.9
75.1
73.3
73.5
71.0
69.8
67.6
66.0
64.0
-1.9
-2.6
-1.6
-0.4
0.3
-2.4
0.3
-3.4
-1.7
-3.2
-2.4
-3.0
-3.8
-5.2
-5.9
-4.5
-1.7
-2.5
-1.9
-5.5
-4.8
-8.0
-7.0
-8.3
-9.4
-11.5
-12.9
-12.6
-10.9
-11.9
-11.6
-14.7
-15.3
-17.1
-18.1
-19.9
2012
January
February
March
April
May
June
61.4
61.0
61.4
61.5
61.8
61.3
-4.1
-0.7
0.7
0.2
0.5
-0.8
-9.2
-7.6
-4.1
0.2
1.3
-0.2
-21.7
-20.2
-18.4
-17.9
-17.7
-16.4
15
Table 8
Dublin - apartments
Percentage changes
Period
1 month
3 months
12 months
2005
2006
2007
2008
2009
2010
2011
Year
Year
Year
Year
Year
Year
Year
103.8
117.5
124.1
113.0
83.9
68.1
57.5
2005
January
February
March
April
May
June
July
August
September
October
November
December
100.0
101.7
101.3
101.5
101.1
101.5
102.0
103.5
106.0
108.3
109.2
110.0
1.7
-0.4
0.2
-0.4
0.4
0.5
1.5
2.4
2.2
0.8
0.7
1.5
-0.6
0.2
0.5
2.4
4.4
6.2
5.5
3.8
2006
January
February
March
April
May
June
July
August
September
October
November
December
109.9
110.5
110.6
113.4
115.3
117.4
118.2
120.9
123.1
123.7
123.4
123.7
-0.1
0.5
0.1
2.5
1.7
1.8
0.7
2.3
1.8
0.5
-0.2
0.2
1.5
1.2
0.5
3.2
4.3
6.1
4.2
4.9
4.9
4.7
2.1
0.5
9.9
8.7
9.2
11.7
14.0
15.7
15.9
16.8
16.1
14.2
13.0
12.5
2007
January
February
March
April
May
June
July
August
September
October
November
December
125.9
127.4
126.0
123.3
123.1
123.9
125.4
124.1
123.4
122.6
121.3
122.6
1.8
1.2
-1.1
-2.1
-0.2
0.6
1.2
-1.0
-0.6
-0.6
-1.1
1.1
1.8
3.2
1.9
-2.1
-3.4
-1.7
1.7
0.8
-0.4
-2.2
-2.3
-0.6
14.6
15.3
13.9
8.7
6.8
5.5
6.1
2.6
0.2
-0.9
-1.7
-0.9
13.2
5.6
-9.0
-25.8
-18.8
-15.5
16
Table 8
Period
Percentage changes
1 month
3 months
12 months
2008
January
February
March
April
May
June
July
August
September
October
November
December
122.3
123.4
122.2
121.1
117.8
114.7
112.9
111.8
109.1
103.6
99.5
97.0
%
-0.2
0.9
-1.0
-0.9
-2.7
-2.6
-1.6
-1.0
-2.4
-5.0
-4.0
-2.5
%
-0.2
1.7
-0.3
-1.0
-4.5
-6.1
-6.8
-5.1
-4.9
-8.2
-11.0
-11.1
%
-2.9
-3.1
-3.0
-1.8
-4.3
-7.4
-10.0
-9.9
-11.6
-15.5
-18.0
-20.9
2009
January
February
March
April
May
June
July
August
September
October
November
December
96.5
93.2
89.9
86.5
85.9
84.6
83.2
80.9
78.1
76.4
75.8
75.2
-0.5
-3.4
-3.5
-3.8
-0.7
-1.5
-1.7
-2.8
-3.5
-2.2
-0.8
-0.8
-6.9
-6.3
-7.3
-10.4
-7.8
-5.9
-3.8
-5.8
-7.7
-8.2
-6.3
-3.7
-21.1
-24.5
-26.4
-28.6
-27.1
-26.2
-26.3
-27.6
-28.4
-26.3
-23.8
-22.5
2010
January
February
March
April
May
June
July
August
September
October
November
December
74.1
71.7
70.8
70.2
70.5
69.9
67.3
66.1
64.4
64.5
63.4
63.9
-1.5
-3.2
-1.3
-0.8
0.4
-0.9
-3.7
-1.8
-2.6
0.2
-1.7
0.8
-3.0
-5.4
-5.9
-5.3
-1.7
-1.3
-4.1
-6.2
-7.9
-4.2
-4.1
-0.8
-23.2
-23.1
-21.2
-18.8
-17.9
-17.4
-19.1
-18.3
-17.5
-15.6
-16.4
-15.0
2011
January
February
March
April
May
June
July
August
September
October
November
December
63.7
63.2
61.4
60.3
60.1
59.2
58.1
54.6
52.0
50.8
53.2
53.9
-0.3
-0.8
-2.8
-1.8
-0.3
-1.5
-1.9
-6.0
-4.8
-2.3
4.7
1.3
-1.2
-0.3
-3.9
-5.3
-4.9
-3.6
-3.6
-9.2
-12.2
-12.6
-2.6
3.7
-14.0
-11.9
-13.3
-14.1
-14.8
-15.3
-13.7
-17.4
-19.3
-21.2
-16.1
-15.6
2012
January
February
March
April
May
June
52.0
48.7
49.8
51.1
50.3
48.6
-3.5
-6.3
2.3
2.6
-1.6
-3.4
2.4
-8.5
-7.6
-1.7
3.3
-2.4
-18.4
-22.9
-18.9
-15.3
-16.3
-17.9
17
Background Notes
Definition The Residential Property Price Index (RPPI) is designed to measure the change in the average
level of prices paid for residential properties sold in Ireland. The index is mix-adjusted to allow
for the fact that different types of property are sold in different periods.
Data Source
The RPPI is compiled using data on mortgage drawdowns provided on a monthly basis by 8 of the
main Mortgage Lending Institutions under Section 13 of the Housing Act (2002). This data
provides details on the characteristics of properties bought (such as building type and size) as well
as the price paid. It is transactions based; meaning that prices are recorded only where a sale
occurs. Not all residential property transactions are funded by a mortgage (i.e. they are cash
based) and these transactions are excluded from the scope of the index.
The CSO has conducted an initial preliminary analysis of Stamp Duty returns (ST21 returns) to
the Revenue Commissioners. As all transfers of residential property require that a Stamp Duty
return is made, this analysis allows us to estimate the total size of the residential property market
(excluding the construction of self-build houses). From this we can estimate the coverage
provided by the mortgage transactions reported to the CSO. The latest available data is in respect
of 2009. The table below shows that, in volume terms, the mortgage drawdowns data covers in
excess of 75% of the market, as measured by Stamp Duty returns, in 4 of the 5 years between 2005
and 2009.
Coverage of stamp duty returns versus mortgage drawdown returns 2005-2009
Mix Adjustment
Year
Mortgage drawdown
returns
% coverage
2005
80,685
71,138
88
2006
86,086
66,749
78
2007
66,090
51,852
78
2008
42,682
29,763
70
2009
19,719
18,596
94
Residential properties are heterogeneous, meaning that no two houses or apartments are exactly
identical. This poses a challenge when trying to construct a price index as there is a need to
separate pure price change from differences in the quality of the products being bought over time.
Typically this is done by comparing the prices of exactly the same products, time after time. This
is, for example, the method used in the Consumer Price Index. However, in the case of residential
properties, price is determined by many characteristics (location, size, build type etc) which make
direct price comparisons difficult. Furthermore, only a small portion of the total housing stock is
sold in any given month. The combination of these factors means that the matching process that
would typically be used to calculate a standard or typical price index cannot be used in the case of
houses and apartments.
The hedonic method is the prevalent statistical process for the measurement of residential price
change. In this method, a number of characteristics which influence prices are analysed so that
we can estimate and exclude the part of the price change that can be attributed to them. These
characteristics are; location, building type, floor area, number of bedrooms, new or old and first
time buyer or not. By excluding the price change determined by these characteristics we are left
with an index of pure price change for a consistent set of characteristics - or more simply - a
residential property price index. This index uses the rolling year hedonic regression model.
Weights
Weights are calculated at the beginning of each year based on the value of transactions during the
previous year as given by the mortgage drawdown data. The index is an annual chain-linked
Laspeyres-type index. It is calculated by updating the previous months weights by the estimated
monthly changes in their average prices.
18
Periodicity The index is compiled on a monthly basis. In order to smooth out short-term volatility in the
series and highlight longer-term trends the published indices are based on a 3 month rolling
average, i.e. a simple average of the current month and the previous 2 months. However, care
should still be taken when interpreting monthly figures which may indicate short-term volatility
rather than underlying change in longer term price trends.
Aggregate indices (National - all residential properties, National - houses, National - apartments,
National excluding Dublin - all residential properties and Dublin - all residential properties) are
compiled using monthly indices rather than the published 3 month rolling average indices . As a
result these higher level indices may, in some periods, show a slight variation with their published
constituent indices.
Geographic Split The indices for Dublin include residential properties in the 4 local authority areas, covering both
79.0
80.4
-1.4
80.4
Equals
-0.0174
19
-0.0174*100
-1.7%