Irish Property Prices: What the RPPI Actually Tells Buyers in Spring 2026
Every month the Central Statistics Office publishes the Residential Property Price Index — the number RTE, the Irish Times, and every estate agent cites when they say “property prices rose X%.” In February 2026 the national RPPI hit 204.9 (base 2015 = 100), meaning Irish property prices are now roughly 105% above their 2015 level. Year-on-year, the national index is up 6.8%.
But what does that number actually mean for someone trying to buy a house this spring? Below we unpack the RPPI — what it measures, where it diverges from the PPR median prices BuyerIQ shows you, and what the latest figures tell us about different segments of the market.
What the RPPI measures
The RPPI is a hedonic price index, not a simple average or median. It adjusts for changes in the mix of properties sold each month (size, type, location) so that the index reflects genuine price movement rather than a shift in what's being traded. If one month sees a spike in penthouse sales and the next month mostly starter homes, a raw median would swing wildly — the RPPI smooths that out.
This is why the RPPI figure (“up 6.8%”) and the PPR median figure (“median sale price €345k”) can tell different stories. The RPPI says like-for-like prices rose 6.8%. The median says the middle transaction this month happened to be €345k, which could be higher or lower than last month depending on what sold, not just what prices did.
For buyers, both matter. The RPPI tells you the direction and speed of the market. The PPR median (which BuyerIQ shows on every property report) tells you what people are actually paying in your area. Use them together.
The national picture — February 2026
| Segment | Index (Feb 2026) | YoY Change |
|---|---|---|
| National — all residential | 204.9 | +6.8% |
| National — houses | 200.1 | +6.3% |
| National — apartments | 226.5 | +8.7% |
| Dublin — all residential | 189.2 | +7.1% |
| Dublin — apartments | 207.8 | +9.1% |
| National excl. Dublin — houses | 215.3 | +5.8% |
The standout: apartments are outpacing houses nationally (8.7% vs 6.3%) and especially in Dublin (9.1%). This reflects the chronic undersupply of apartment stock — CSO NDQ06 data shows apartment completions still running below 2007 levels in most Dublin postcodes.
Who is buying?
The CSO also publishes HPM04 — a monthly breakdown of household purchases by buyer type and Eircode area. From this we can see:
- First-time buyers account for roughly 58% of all filings nationally in the last 12 months. This share has been rising since the Help-to-Buy scheme was extended.
- Former owner-occupiers (movers) make up ~30%. Their share is stable but the average price they pay is higher than FTBs, reflecting the “second step” into larger homes.
- Non-occupier buyers (buy-to-let investors) are at ~12%. Down from a peak of 18% in 2018, reflecting the accumulation of landlord-hostile tax changes over 8 years.
What this means for buyers
The 6.8% national headline means a property worth €400,000 a year ago is, on average, worth €427,200 now. That's €27,200 of appreciation — roughly €2,267 per month. If you've been saving for a deposit and sitting on the sidelines, the market has been moving faster than most savings accounts can match.
But the RPPI is a national average. Individual areas diverge massively. Some Eircode areas in the midlands are flat; parts of south Dublin are up 10%+. That's exactly why BuyerIQ shows you per-property fair value from actual comparable sales — not national averages. The RPPI tells you the tide. BuyerIQ tells you the depth at your feet.
Data sources
- RPPI: CSO HPM09, Residential Property Price Index by Type of Residential Property (Base 2015=100). Monthly, Jan 2005 — Feb 2026.
- Buyer type breakdown: CSO HPM04, Market-based Household Purchases by Eircode Output, Dwelling Status, Stamp Duty Event & Type of Buyer. Monthly, Jan 2010 — Feb 2026.
- Comparable sales: Property Price Register (Gov.ie), 775,000+ transactions since 2010, cross-linked to BER ratings, floor areas, and listing data by BuyerIQ.
All datasets referenced in this article are available on data.cso.ie and propertypriceregister.ie. BuyerIQ does not alter CSO data — we import, normalise, and surface it.