Description
The CSO Residential Property Price Index (RPPI) is designed to measure the change in the average level of prices paid by households for residential properties sold in Ireland. The chart shows residential property price change from January 2005 at a national level, at Dublin level, and outside of Dublin.
Importance
House purchase usually represents a households single biggest purchase. For sellers, changes in house prices have a significant impact on the wealth of property owners. For buyers, increasing prices may indicate that homeownership is becoming less attainable for many potential homebuyers.
Changes in house prices can also have a considerable effects on the rest of the economy, particularly on consumer spending.