Residential property prices grew by 1.8% in the month of September, according to the latest figures from the Central Statistics Office (CSO).
This compares with an increase of 0.9% recorded in August. Prices grew by 0.9% in September of last year.
In the year to September, residential property prices at a national level, increased by 3.6%. It compares with an increase of 2.8% in August and a decrease of 9.6% recorded in the twelve months to September 2012.
In Dublin residential property prices grew by 3.9% in September and were 12.3% higher than a year ago. Dublin house prices grew by 4.2% in the month and were 12.2% higher compared to a year earlier. Dublin apartment prices were 11.0% higher when compared with the same month of 2012.However, it should be noted that the sub-indices for apartments are based on low volumes of observed transactions and consequently suffer from greater volatility than other series.
The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) fell by 0.1% in September compared with a decrease of 0.1% in September last year. Prices were 2.6% lower than in September 2012.
House prices in Dublin are 49% lower than at their highest level in early 2007. Apartments in Dublin are 59% lower than they were in February 2007. Residential property prices in Dublin are 51% lower than at their highest level in February 2007. The fall in the price of residential properties in the Rest of Ireland is somewhat lower at 48%. Overall, the national index is 48% lower than its highest level in 2007.