Property prices up 8% in year to end of February

Residential property prices climbed by 8 per cent over the 12 months to the end of February new figures from the Central Statistics Office Show.

The increase compares with an increase of 7.6 per cent in January and an increase of 14.9 per cent recorded in the 12 months to the end of February last year.

Residential property prices showed no change in the month of February.

The CSO recorded a decrease of 0.5 per cent recorded in January and a decrease of 0.4 per cent recorded in February of last year.

In Dublin residential property prices decreased by 0.1 per cent in February and were 4 per cent higher than a year ago.

Dublin house prices fell by 0.3 per cent in February and were 4 per cent higher compared to a year earlier.

Apartment prices in the city were 4.3 per cent higher when compared with the same month of 2015.

The CSO noted that apartment sales figures were based on low volumes of and consequently suffer from greater volatility than other parts of the price index.

The price of residential properties outside Dublin rose by 0.1 per cent in February compared with no change in February of last year. Prices were 11.5 per cent  higher than in February 2015.

House prices in Dublin are now 35.1 per cent lower than at their highest level in early 2007.

Apartments in Dublin are 40.9 per cent lower than they were in February 2007.

Residential property prices in Dublin are 36.9 per c ent lower than at their highest level in February 2007.

The price of residential properties in the Rest of Ireland is 35.2 per cent lower than their highest level in September 2007. Overall, the national index is 33.8% lower than its highest level in 2007.