History of House Prices in Ireland

Valuation of Homes for Property Tax (Written in 2013)

In 2013 – people all over Ireland were trying to work out how much their house was worth – so they could fill in their Property Tax form .

Unless your house was 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 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 valuation estimate will not take into account 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 corresponding to the year 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 multiplied by 0.86 to arrive at an estimated value in 2013 of  €150,500

Year of Purchase% Yearly Price ChangeMultiplier to Use to Estimate Value in 2013
1980165.0
1981184.23
198293.88
198343.73
198433.62
198523.55
198633.45
1987-13.48
198893.19
1989102.9
1990132.57
199122.52
199232.45
199322.4
199442.31
199572.15
1996131.91
1997191.6
199829.81.23
199917.91.05
200021.30.86
20014.40.83
200213.30.73
200313.80.64
20048.60.59
20059.30.54
200611.80.48
2007-7.30.52
2008-9.10.57
2009-18.50.70
2010-10.80.79
2011-17.40.95
2012-4.51

NB: If your original purchase price was in Irish Pounds you will need to multiply 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 has 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

15 thoughts on “History of House Prices in Ireland

  1. I purchased a 2 bedroomed house in Dublin 7 for 147,000punts in 2001 but did some work to bring it up to standard,extending the mortgage to finance it. My mortgage is now 325,000Euros. What would my property taxa roughly be?

  2. hi ought my house for 143 thousand in 2002 its a 2 bedroom house in waterford city shared ownership with waterford corporation can you assist please thanks very much

    • I suggest you get in touch with the Council to see if they know who is liable for the tax. It looks like liability for council shared ownership properties could be an issue. Let us know what the Council say. Thanks

  3. We had a house fire are are currently in temt accommodation and fighting with our insurers who will not tell us what standard of materials / replacements their builder plans to use in his cheap rebuilding quote. On May 1st our house will be uninhabitable …… so the market value will be lower than its pre-fire valuation. Am I right is thinking that the burnt out value is the one we use ? according to the info, the valuation on May 1st will not change for 3 years.

    Ps
    I wont even start on the insurance scam we are up against !

  4. paid 22,500 for house in 1986 going on fig. im still under 100,000 euro in value.ps i paid in pounds

    just wondering could i go on the lowest value ie 90 euro for full year. got est.for 228 for year

    • Did you do any major improvements to the house? Have other houses similar to yours sold for more than 100k in recent years? The average price increase for the country might not apply to your area .
      It would probably not be questioned if you wnet for under 100k band.

  5. Hi, I purchased a so called Affordable 2 bedroom 76sq metre house from a City Council in 2005. I paid the deposit in 2005 but the mortgage did not begin until June 2006. During the interm period I paid the City Council €100.00 rent a week. Which year do I work out the value of the property 2005 or 2006? There are 54 houses in the estate which is owned by a City Council. Only 12 houses are Affordable. Revevue have now valued the property at between €150000-€200000. The purchase price in 2005 at the height of the boom was €143000.00. Are there any concessions for the so called Affordable homes that were purchased during the boom?

    • There are no concessions – but going bey either 2005 or 2006 price decreases – your house value could have dropped to less than 100k by now.

  6. 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

    • 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.

  7. 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.

    • 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)

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