Average house price in Dundalk in September €17k lower than 2017

The average house price in Dundalk in September 2018 was €17,396 lower than it was in September 2017. This is according to the Residential Property Price index released by the CSO today.

In Dundalk in September, 42 residential properties were legally transferred (executions) at an average price of €197,339. This 20 more properties than the month previously when 62 properties were transferred at an average price of €216,000.

The legal deadline for submitting a stamp duty return is within 44 days of the date of execution (in some cases, returns are submitted later than this).

In practice, therefore, only a fraction of the transactions executed in any given month are available for index compilation the following month. Rather than delay the RPPI, preliminary results are prepared based on the early returns.

These preliminary results are updated the following two months as new transaction data for the reference month becomes available. Therefore, the RPPI results for the latest two months are provisional.

This is evident when looking at the figures for August. When the property price index figures for August were released by the CSO last month, 41 properties had been legally transferred at an average price of €215,176. See last month's Dundalk Democrat article for more details.

Updated figures for August however, show that 62 executions took place, at an average price of €216,000.

With regards to the figures for September, the median(middle) price of houses sold in Dundalk was €195,750, just €1,589 lower than the average price. This might suggest that there were no major outliers in the range of properties legally transferred.