Greystones most costly place to buy home

GREYSTONES is the most expensive area outside of Dublin to buy a house, according to the Central Statistics Office.

The CSO has just published its residential property price index for March 2017.

Outside the capital the most expensive Eircode area was A63 ‘Greystones’, with an average dwelling price of €405,100.

The second most expensive Eircode area outside Dublin was A98 ‘Bray’, where the average price was €366,670.

The third most expensive was P17 ‘Kinsale’, which had an average price of €347,341.

The least expensive Eircode area over the last 12 months was F45 ‘Castlerea’, with an average price of €68,831.

In the year to March, the most expensive Eircode area for household dwelling purchases was D06 ‘Dublin 6’, with an average price of €726,508. In fact, the ten most expensive Eircode areas by average price in the same period were all in Dublin. The second most expensive Eircode area was D04 ‘Dublin 4’, where the average price was €709,567. The third most expensive was A94 ‘Blackrock’, which had an average price of €650,219.

Overall, the property price index shows an annual increase of 9.6 per cent in the cost of homes in Ireland.

Overall, the national index is 31.5 per cent lower than its highest level in 2007. Dublin residential property prices are 31.5 per cent lower than their February 2007 peak, while residential property prices in the rest of Ireland are 36.4 per cent lower than their May 2007 peak.

From the trough in early 2013, prices nationally have increased by 50.4 per cent. In the same period, Dublin residential property prices have increased 67.6 per cent whilst residential property prices in the Rest of Ireland are 46.3 per cent higher.