Residential property prices increased by 7.2% across the country in the year to August.

This compares with an increase of 6.7% in the year to July and an increase of 5.5% in the twelve months to August 2015.

New figures from the Central Statistics Office show house prices in Dublin jumped by 4.8% whereas apartments increased by 6.4% in the same period.

Irish house prices

The highest growth was recorded in Dublin City and Fingal, with house prices rising by 5.9%, while the lowest growth was in Dun Laoghaire-Rathdown.

Outside of the capital, residential property prices increased by 11.4% in the year to August.

The South-West region showed the greatest price growth, with house prices rising by 14.8%.

Overall, the national index is 33.7% lower than its highest level in 2007.

Dublin residential property prices are 34.2% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 38.1% lower than their peak in May of that year.

Nationally have increased by 45.6% from their post-crash lows in 2013.