IN THE YEAR to January, property prices across the country fell by 3.3 per cent, according to the latest Central Statistics Office figures.
This compares with an annual rate of decline of 4.5 per cent in December and a decline of 17.4 per cent recorded in the twelve months to January 2012.
Residential property prices fell by 0.6 per cent in the month of January, compared with a decrease of 0.5 per cent recorded in December and a decline of 1.9 per cent recorded in January 2012.
In Dublin, residential property prices increased by 0.5 per cent in January and were 2.1 per cent higher than a year ago.
The price of residential properties in the rest of Ireland (outside of Dublin) fell by 1.6 per cent in January, compared with a decline of 0.7 per cent in January last year.
House prices in Dublin are 54 per cent lower than at their highest level in early 2007, while the fall in the price of residential properties in the rest of Ireland is somewhat lower at 47 per cent.
Overall, the national index is 50 per cent lower than its highest.