Residential property prices have risen by nearly 13% this year

Prices in Dublin increased by 12.2% in the year to September

Residential property prices have risen by nearly 13% this year

Apartment for sale signs in Kildare | File photo | Image: RollingNews.ie

National residential property prices have increased by nearly 13% this year according to new figures from the Central Statistics Office.

The index shows that prices rose by 12.8% in the year to September.

This compares to an 11.8% annual increase recorded in August.

Property in the west of the country saw the fastest appreciation in value at 16.5% - with the mid-west showing the lowest rise at 9.8%.

Prices in Dublin increased by 12.2% in the year to September - with house values increasing by 12.4% and apartment values rising by 11.4%.

Prices in the centre of the city saw the highest rise at 13.9% - with the lowest rise of 9.9% recorded in Dun Laoghaire-Rathdown.

The figures reveal that prices nationally are still 23.7% lower than at the peak of the boom in 2007 - with prices in Dublin 24.5% lower than the peak in February 2007.

Meanwhile prices nationally have risen by over 70% since reaching their lowest point during the recession in 2013.

Prices in Dublin have increased by 87.0% since the "trough" while values in the rest of the country are 61.4% higher.