Residential property prices for houses and apartments increased by 10.9% nationally in the year to August, according to the latest figures from the Central Statistics Office.
The latest double-digit increase is the fastest rise in three years.
This compares to an increase of 8.5% in the year to July and a decrease of 0.9% in the 12 months to August 2020.
In Dublin, residential property prices saw an increase of 10.2% in the year to August, while property prices outside Dublin were 11.5% higher.
In Dublin, house prices increased by 11.3% and apartment prices increased by 5.7%. The highest house price growth in Dublin was in South Dublin at 12.6%, while Fingal saw a rise of 8.3%.
Outside Dublin, house prices were up by 11.1% and apartment prices up by 16.7%. The region outside of Dublin that saw the largest rise in house prices was the Border at 20.7% - at the other end of the scale, the South West saw an 8.3% rise.
Overall, the national index is 8.9% lower than its highest level in 2007. Dublin residential property prices are 14.9% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 11.2% lower than their May 2007 peak.
Property prices nationally have increased by 103.2% from their trough in early 2013. Dublin residential property prices have risen 110.8% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 104.4% higher than at the trough, which was in May 2013.
There was a jump in transactions in August with households purchasing 3,764 dwellings, an increase of 60pc compared with August 2020.
The median, or typical, price paid for a property nationwide is now €270,000.
The Dublin region had the highest median price at €399,999.
Within the Dublin region, Dún Laoghaire-Rathdown had the highest median price at €562,000, while South Dublin had the lowest at €366,875.
The lowest price nationwide price was €124,900 in Leitrim.
