Residential property prices are up by 6.6% so far in 2016

Increases have cooled in the capital

Residential property prices are up by 6.6% so far in 2016

Photocall file photo

New figures from the Central Statistic Office (CSO) show that residential property prices in Ireland have risen by 6.6% in the year to June.

This is down from a 6.9% between the start of the year and May. In June 2015 the year-on-year increase was 10.7%.

Month-on-month prices dropped by 0.1% - this was the first monthly decrease since January.

In Dublin residential property prices fell by 0.7% between May and June - but have increased by 4.5% when compared to the same time one year ago.

In June apartment prices in the capital fell by 0.5% compared to 12 months ago.

Outside of the capital, prices were 8.6% higher at the end of June than they were 12 months before.

Prices in Dublin remain 33.5% below their highest levels during the Celtic Tiger bubble. Prices in the rest of the country are 35.4% below their peak-levels.

Apartments in Dublin are 41.8% lower than they were in February 2007 - and overall, the national index is 33.3% lower than its highest level in 2007.