In the year to June, residential property prices at a national level, fell by 14.4%, according to the Central Statistics Office (CSO).

This compares with an annual rate of decline of 15.3% in May and a decline of 12.9% recorded in the twelve months to June 2011.

In Dublin residential property prices fell by 1% in June and were 16.4% lower than a year ago. Dublin house prices decreased by 0.8% in the month and were 16.4% lower compared to a year earlier. Dublin apartment prices were 17.9% lower when compared with the same month of 2011.

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The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) fell by 1% in June compared with a decline of 1.9% in June last year. Prices were 13.5% lower than in June 2011.

House prices in Dublin are 56% lower than at their highest level in early 2007. Apartments in Dublin are 62% lower than they were in February 2007. Residential property prices in Dublin are 57% lower than at their highest level in February 2007.

(CD)