Residential property prices in the Republic of Ireland fell by 16.3% in the year to March 2012, a sharper fall than in the previous year to March 2011 when they fell 11.9% according to the Central Statistics Office.

In Dublin average property prices increased by 0.7% in March, having fallen previously by 1.2% in January and by 4% in February.

Average residential property prices in Dublin are now 57% lower than at their highest level in February 2007, whilst the fall in the average price of residential properties in the rest of the country is lower at 45%. Overall, the national index is now 49% lower than its highest level in 2007.