Property prices now 23% higher than peak of boom in 2007

Property prices rose by 7.6% in the 12 months to September, according to the latest figures from the Central Statistics Office.

Prices increased by 5.3% in Dublin and by 9.4% outside the capital.

The median price of a home reached €380,000.

The national increase is marginally higher than the rise in the 12 months to August which was 7.5%.

The CSO said: “The highest median price paid for a dwelling was €675,000 in Dún Laoghaire-Rathdown, while the lowest was €190,000 in Donegal.”

The figures mean property is now 23% above its highest level at the peak of the boom in 2007.

Dublin residential property prices are 8.2% higher than the peak in 2007 while prices outside the capital are 25.6% higher.

Prices nationally have increased by 174.2% from their trough in early 2013 following the financial crisis and collapse in the Irish property market.

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