Irish house prices rose in the month of May, making it their first increase since 2007, according to data released on Monday.
The CSO index found the cost of homes rose by 0.2 percent in May, though they were still more than 15 percent lower than in the corresponding month last year.
That is the first increase since Sept 2007 when the index recorded a rise of 0.1 percent . Since then, apart from a few months where they held level, the prices have fallen steadily in each index by anywhere up to 2.7 percent.
Prices are down 14.2 percent compared to the same time last year.
The CSO figures show that house prices in Dublin are 55 percent lower than at their highest level in early 2007.
Apartments in Dublin are 61 percent lower than they were in February 2007, while residential property prices in Dublin are 57 percent lower.
Prices rose for the third successive month in Dublin, where demand has surged in certain popular areas, the statistics showed. Properties in Dublin were 0.2 percent in May while the rest of the country increased 0.1 percent.
The fall in the price of residential properties in the rest of Ireland is somewhat lower at 47 percent .
Overall, the national index is 50 percent lower than its highest level in 2007.
