Wednesday, June 25 11:10:07
In the year to May, residential property prices at a national level increased by 10.6pc with Dublin home prices up 22pc, latest CSO figures showed today.
This compares with an increase of 8.5pc in April and a decrease of 1.1pc recorded in the twelve months to May 2013.
Residential property prices rose by 2.3pc in the month of May.
This compares with an increase of 1.4pc recorded in April and an increase of 0.3pc recorded in May of last year.
In Dublin residential property prices grew by 4.2pc in May and were 22.0pc higher than a year ago.
Dublin house prices rose by 4.4pc in the month and were 22.4pc higher compared to a year earlier.
Dublin apartment prices were 19.5pc higher when compared with the same month of 2013.
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 CSO said.
The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) rose by 0.6pc in May compared with an increase of 0.1pc in May of last year. Prices were 1.8pc higher than in May 2013.
House prices in Dublin are 44.4pc lower than at their highest level in early 2007.
Apartments in Dublin are 53.4pc lower than they were in February 2007. Residential property prices in Dublin are 46.3pc lower than at their highest level in February 2007. The price of residential properties in the Rest of Ireland is 47.0pc lower than their highest level in September 2007. Overall, the national index is 45.1pc lower than its highest level in 2007.