Rate of house price increase steadying

Residential property prices rose by 16.3% in the year to December 2014.

The latest figures from the CSO show prices in Dublin were 23% higher during that time.

Last month, prices rose by 0.4%, compared to an increase of 0.5% in November.

In Dublin, residential prices were up 0.3% in December on a monthly basis, while outside the capital the increase was 0.7%.

Dublin apartment prices were 21% higher when compared with the same month of 2013.

House prices in Dublin are still 35.6% lower than at their highest level in early 2007, with the price of residential properties in the Rest of Ireland 41.4% lower than their September 2007 high point.