Property prices have shown an annual increase for the first time in 5 years.
Prices rose by 1.2% in the 12 months to the end of June, the Central Statistics Office said today.
In the month of June, prices rose by 1.2%, compared to a drop of 0.3% in May.
According to the CSO, home values in Dublin were responsible for the annual increase.
Property prices in Dublin were 4.2% higher than a year ago.
Apartment prices in the city surged by 9.7% in June.
But the CSO says the low number of apartments changing hands creates volatility in price movements.
This is the first annual increase since January 2008. It compares with an annual rate of decline of 1.1% in May and a decline of 14.4% recorded in the 12 months to June 2012.
The price of residential properties outside Dublin grew by 0.7% in June, compared with a decrease of 1% lower than in June 2012.
However, house prices in Dublin are 54% lower than they were at their highest level in early 2007. Apartments in Dublin are 58% lower than they were in March 2007. Residential property prices in Dublin are 55% lower than at their highest level in March 2007. The fall in the price of residential properties in the Rest of Ireland is somewhat lower at 48%. Overall, the national index is 50% lower than its highest level in 2007.
