Residential property prices in Ireland rose 2.3 percent in the year to July 2019, following a 2.0 percent advance in the previous month, as price growth picked up for both houses (2.2 percent vs 2.0 percent in June) and apartments (1.5 percent vs 1.1 percent). Still, Dublin's residential property costs dropped for the first time since October 2012 (-0.2 percent vs 0.1 percent), while in the rest of the country prices increased at a faster pace (4.8 percent vs 4.0 percent). Overall, the national index was 17.3 percent lower than its highest level in 2007. Housing Index in Ireland averaged 92.89 Index Points from 2005 until 2019, reaching an all time high of 131 Index Points in April of 2007 and a record low of 58.70 Index Points in March of 2013.
Housing Index in Ireland is expected to be 114.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Housing Index in Ireland to stand at 120.00 in 12 months time. In the long-term, the Ireland Residential Property Prices is projected to trend around 125.00 Index Points in 2020, according to our econometric models.