Residential property prices rose by 1.4% in the month of April, according to the latest figures from the Central Statistics Office (CSO).
This compares with a decrease of 0.7% recorded in March and an increase of 0.8% recorded in April of last year.
In the year to April, residential property prices at a national level, increased by 8.5%. This compares with an increase of 7.8% in March and a decrease of 1.2% recorded in the twelve months to April 2013.
In Dublin residential property prices grew by 3.1% in April and were 17.7% higher than a year ago. Dublin house prices rose by 3.1% in the month and were 17.8% higher compared to a year earlier. Dublin apartment prices were 17.5% 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 price of residential properties in the Rest of Ireland (i.e. excluding Dublin) fell by 0.3% in April compared with an increase of 1.2% in April of last year. Prices were 1.3% higher than in April 2013.
Residential property prices in Dublin are 48.5% lower than their highest level in early 2007. House prices in Dublin are 46.7% lower than their peak in April 2007. Apartment prices in Dublin are 54.2% lower than their peak in February 2007. In the Rest of Ireland residential property prices are 47.4% lower than their highest level in September 2007. Overall, the national index is 46.3% lower than its highest level in 2007.
