There has been a rise of 6.9% in the price of residential properties in the year to the end of May.
However, figures from the CSO today show that the rate of increase is slowing down, and is the slowest rate since December last year. House prices rose by 0.2% in May compared to April.
The rate of increase is higher outside of Dublin.
In Dublin, residential property prices rose by 4.8% when compared to the previous year. Outside Dublin, the increase was 8.5%.
Property prices across the country are on average 33% below their 2007 peak.