In the year to October, residential property prices at a national level, fell by 15.1%, according to the Irish Republic's Central Statistics Office (CSO).

This compares with an annual rate of decline of 14.3% in September and a decline of 11.1% recorded in the twelve months to October 2010.

Residential property prices fell by 2.2% in the month of October. This compares with a decline of 1.5% recorded in September and a decline of 1.2% in October of last year.

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In Dublin residential property prices fell by 3.1% in October and were 17.5% lower than a year ago. Dublin house prices decreased by 3.2% in the month and were 17.1% lower compared to a year earlier. Dublin apartment prices fell by 2.3% in the month of October and were 21.2% lower when compared with the same month of 2010.

The price of residential properties in the Rest of Ireland fell by 2% in October compared with a decline of 1.2% in the same month of last year. Prices were 13.8% lower than in October 2010.

House prices in Dublin are 51% lower than at their highest level in early 2007.

Apartments in Dublin are 60% lower than they were in February 2007. Residential property prices in Dublin are 53% lower than at their highest level in February 2007. The fall in the price of residential properties in the Rest of Ireland is somewhat lower at 42%. Overall, the national index is 45% lower than its highest level in 2007.

(CD)