Residential property prices fell by 0.4% nationwide in February, according to the latest figures from the Central Statistics Office (CSO).
Despite this fall, residential property prices remained up 14.9% on an annual basis.
In Dublin residential property prices fell by 0.7% in February. However, Dublin residential property prices were still 21.4% higher than in February 2014.
Dublin house prices fell by 1.0% in February whilst Dublin apartment prices increased by 2.0%. 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.
Outside of Dublin residential property prices were unchanged in February. However, prices were still up 8.2% compared with February 2014.
At a national level residential property prices were 38.7% lower than their peak level in 2007. Dublin house prices were 37.6% lower than their peak, Dublin apartment prices were 43.3% lower than their peak and Dublin residential property prices overall were 39.3% lower than their highest level. Outside of Dublin residential property prices were 41.9% lower than their highest level in 2007.
