Data from the Central Statistics Office show that in the 12 months leading up to March 2023, the national Residential Property Price Index climbed by 3.9%.
This is down from a 5.1% increase in the year to February and the high value of 15.1% in the 12 months to February and March 2022.
Prices in Dublin rose by 1.7% and prices in the rest of the country were up by 5.7% in the same period.
In March 2023, 4,132 dwelling purchases by households at market prices were filed with the Revenue Commissioners, up by 5.4% compared with the 3,921 purchases in March 2022.
The average cost of a home in the 12 months leading up to March 2023 was 310,000 euros.
The highest median price in the country remains Dún Laoghaire-Rathdown at €635,000 while the lowest was in Longford at €154,000.
The national index has now reached a value 1.6% above its highest level at the peak of the property boom in April 2007.
Dublin residential property prices are 8.7% lower than their February 2007 peak, while residential property prices in the rest of Ireland are 2.1% higher than their May 2007 peak.
CSO prices statistician Viacheslav Voronovich said: “The most expensive Eircode area over the 12 months to March 2023 was A94 Blackrock with a median price of 750,000 euro, while F35 Ballyhaunis had the least expensive price of 126,000 euro.”
The Residential Property Price Index (RPPI) is designed to measure the change in the average level of prices paid by households for residential properties sold in Ireland.
The RPPI specifically excludes non-household purchases, non-market purchases and self-builds (ie where the land is purchased separately).