Residential property prices rise by 3.9% in the year to March

Residential property prices increased by 3.9% nationally in the year to March, according to new data released by the Central Statistics Office.

This compares with an increase of 4.3% in the year to February and an increase of 12.6% in the twelve months to March 2018.

The cost of homes outside of Dublin went up by 6.8% over the 12 months, and 1.2% in the year to March.

The mid-west saw the largest growth at 11.9%, while the smallest rise was recorded in the mid-east at 1.6%.

Overall, the national index is 18.6% lower than its highest level in 2007.

Dublin residential property prices are 22.3% lower than their February 2007 peak, while residential property prices in the rest of the country are 22.3% lower than their May 2007 high.

In terms of recovery since the crash, property prices nationally have increased by 81.6% from their trough in early 2013.

Dublin property prices have risen 92.5% from their February 2012 low, while prices in the rest of the country are 78.8% higher than at the trough, which was in May 2013.