Residential property prices across Ireland rose 8.9% in the last year, and 1.3% in the month of September.

Figures released by the Central Statistics Office today show that price increases are higher outside Dublin.

Excluding Dublin, residential property prices are up 11.4% in the last year, with house prices up 11.1%.

The prices of apartments in Dublin fell in September, dropping 0.4%, while house prices rose by 1.1%. However, over the last year Dublin house prices are up 6.5%, while apartment have risen 6.3% in price in the last 12 months.

The CSO have carried a warning with these figures, saying that “sub-indices for apartments are based on low volumes of observed transactions and consequently suffer from greater volatility than other series.”

Overall property prices in Ireland still some way off the peak, with national residential property prices averaging 34.6% lower than the peak in 2007.

Dublin apartment prices are 40.7% off that high, while Dublin residential property prices are 35.6% lower. Outside the capital property prices are 37.7% off the 2007 peak.