The House Price Index is now at the Celtic Tiger Peak
The residential real estate price index is now at the level of the peak recorded during the Celtic Tiger.
The Central Statistics Office (CSO) said the national index reached the value of 163.6 points in June 2022, equal to that recorded in April 2007 before the global financial crisis.
However, real house prices are not yet at the level recorded in 2007 before the market crash. In Dublin, house prices are 8.1% below their peak in February 2007, while outside Dublin they are now only 1.3% below their peak in May 2007.
House price inflation eased slightly for the third month in a row in June, another sign that the market may be cooling in the face of rising living costs.
The index showed house prices nationwide rose 14.1% in the year to June, from 14.4% in May.
In Dublin, residential prices increased by 11.8%, while property prices outside Dublin rose by 16% year-on-year.
The median price paid for a property in the 12 months to the end of June was €290,000, the CSO said.
Longford recorded the lowest median price, which was €140,000, while the highest median price was in Dún Laoghaire-Rathdown, where it now stands at €605,000.