Property prices down 0.5% in year to July

Residential property prices fell by 0.5 per cent across the State in the year to July, new figures from the Central Statistics Office (CSO) show.

In Dublin, property prices were down 1.3 per cent, with house prices falling 1.3 per cent while apartments rose 0.4 per cent.

Outside the capital, property prices were 0.2 per cent higher in the year to July.

The highest house price growth in the capital was in Dún Laoghaire-Rathdown, up 1.3 per cent. Dublin city recorded the biggest decline, down 2.07 per cent. Outside Dublin, the largest rise in prices was the southwest, up 4.3 per cent, with the southeast recording a 1.6 per cent decline.

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2013 trough

Property prices in the Republic have increased by 83.5 per cent from their trough in early 2013, but are still 17.7 per cent lower than their highest level in 2007.

In Dublin, prices have risen 91.5 per cent from their February 2012 low but are still 22.7 per cent lower than their February 2007 peak.

Outside the capital, prices are 83.6 per cent higher than their lowest level in May 2013 but are still 20.2 per cent off their peak in May 2007.