The average price of a home in Ireland surged more than 14% in the past 12 months, according to the CSO.

The latest Residential Property Price Index shows that prices in Dublin rose 11.5%, while prices outside the capital jumped 16.4%.

Property prices. Image: CSO

The rate of house price inflation is lower than it was last month – the first reduction recorded in nearly two years.

The rates recorded in March was 15.1%. The last time a reduction in inflation was recorded was September 2020.

In Dublin meanwhile, property price inflation reduced for the second month in a row.

The median price of home purchased in the past 12 months was €286,000.

House prices

The largest house price increases in Dublin were recorded in the city centre which saw average increases of 12.7%.

Outside of Dublin, the border region saw the largest increases – surging in value by more than a fifth at 22.1%.

Meanwhile, ‘non-household entities’ were responsible for residential property purchases worth around €3.5bn in 2021 – a slight increase on the year before.

The entities, which include private companies, charitable organisations and State institutions, bought 11,733 homes.

International entities spent €564.6m on Irish property purchases last year.