House prices increasing in Dublin

House prices remained static last month for the first time in almost two years, official figures have revealed today.

According to the Central Statistics Office, the price of a house in Dublin increased slightly during March, up 0.7%, while the cost of apartments was unchanged.

Residential property prices in Dublin are still 18.3% lower when compared with the same month of 2011, with apartment prices in the city 18.9% than a year ago.

The picture outside Dublin showed prices continuing to fall, down 0.6% last month, compared with a decline of 1.5% in March last year.

Prices were 15.5% lower than in March 2011.

House prices in Dublin are now 55% lower than at their highest level in early 2007, with Dublin apartment prices 61% lower than in February 2007.

Overall residential property prices in Dublin are 57% lower than their peak.

The fall in the price of residential properties in the rest of Ireland is somewhat lower at 45%.

Overall, the official register shows that the property crash has wiped 49% off the value of homes and apartments in the five years since the market peak.

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