History of House Price Changes in Ireland

Valuation of Homes for Property Tax

People all over Ireland will be trying to work out how much their house is worth this month  – so they can fill in their Property Tax form . Usually owners are hoping their home is worth a lot  – but some  people are hoping for a lower valuation when taxes are involved!

The good news is that you only have to put your house into one of 20  valuation bands.   See the Property Tax Bands Here .
Unless your house is worth over a Million Euro  – you don’t have to give the exact  value of the property .
For people who bought their house several years ago – it will be hard to assess the  current value with the boom and bust of the property market and the lack of recent sales for comparison.

We thought it might be useful to take a look at the history of property prices in Ireland   – so we have pulled together figures from the current CSO Property Price Index  the old PTSB/ESRI House Price Index  and older  figures from the Dept of Finance .

We have come up with a table below – that will give owners a fairly rough guide to the change in the value of their home since the year it was purchased. We do not claim that these figures are 100% accurate. They are for  the properties all over the whole country and for all property types.  Different property types will  have had  bigger or smaller changes in value – as will properties in cities and in rural areas.

The figures are based on annual price changes – so the 2013 valueation estimate will not take account of differences between houses bought at different times during a year . Hopefully the figures can be useful as another way of  estimating  how much your house might be worth .

How to Use the Price Change Estimation Table:
Simply select the row that corresponds to the year that you bought the house and then multiply the purchase price by the figure in the last column .

For example - a house purchased in 2000 for €175000 would be muliplied by 0.86 to arrive at an estimated value in 2013 of  €150,500

Year of Purchase % Yearly Price Change Multiplier to Use to Estimate Value in 2013
1980 16 5.0
1981 18 4.23
1982 9 3.88
1983 4 3.73
1984 3 3.62
1985 2 3.55
1986 3 3.45
1987 -1 3.48
1988 9 3.19
1989 10 2.9
1990 13 2.57
1991 2 2.52
1992 3 2.45
1993 2 2.4
1994 4 2.31
1995 7 2.15
1996 13 1.91
1997 19 1.6
1998 29.8 1.23
1999 17.9 1.05
2000 21.3 0.86
2001 4.4 0.83
2002 13.3 0.73
2003 13.8 0.64
2004 8.6 0.59
2005 9.3 0.54
2006 11.8 0.48
2007 -7.3 0.52
2008 -9.1 0.57
2009 -18.5 0.70
2010 -10.8 0.79
2011 -17.4 0.95
2012 -4.5 1

NB: If your original purchase price was in Irish Pounds you will need to muliply the answer by 1.27 to convert to Euros . For example – a house bought in 1985 for £40,000 pounds – would be multiplied by 3.55 to get a 2013 estimated value of  £142000. To convert this to Euros – multiply by 1.27 to arrive at a figure of  €180,340.

Try it out and let us know how you get on and what you think of the values you come up with compared to the Revenue valuation map or recent sales in your area.  Have Fun !

More Information about Property Tax Here

Revenue have set up  an online valuation guide that shows average values for electoral areas based mainly on sale prices since 2010.
More here about the Revenue Online Map


  1. Helen says:

    Hi I biought a house in 1984 for 40,400 ponds and this translates now to 186,000 according to the money guide conversion. Can I use this value?
    I live in Dublin 6w and houses are going for a bit more than that

    • Money Guide says:

      Helen – the hous eprice increase figures are for the whole country – and may not reflect the actual increases in specific towns. Dublin prices did rise more than the rest of the country. If you know that houses like yours are selling for more than 200k – then maybe you should value it in Band 4 (200k – 250k) . Otherwise if houses like yours are selling at 200k or less – you could choose to value it in Band 3.

  2. Marie says:

    In 1979 we bought our house for £20.000. Revenue have placed our home in Band 5. Last Year we valued it for insurance reasons at E180.000. As this is a legal document that already states the estimated value of our home can we use that valuation? On the other hand there are houses Two minutes away in a different estate also in band 5 some of which last year sold for E150.000.

    • Money Guide says:

      Marie – the Revenue estimate is just that – an estimate. They have not valued your house. It is up to you to value your house and Revenue say that as long as you do it honestly they will accept it. (Might be worth keeping notes of house sales etc nearby) . PS Insurance valuation is usually for the rebuilding costs – and could be lower or higher then the market value)

  3. gerald says:

    I bought my house in 1968 what multiplier should I use?