Property prices increase by less than 1pc

This compares to an increase of 8.3pc in the twelve months to October 2018, according to figures from the Central Statistics Office (CSO).

Residential property prices in Ireland excluding Dublin were 3.3pc higher in the year to October, with house prices up by 3.3pc and apartments by 4pc this year.

The region outside of Dublin that saw the largest rise in house prices was the Border at 10.1pc.

At the other end of the scale, the Mid-East saw no change.

In Dublin, residential property prices actually decreased by 1.5pc in the year to October.

Comparing the different types of homes, house prices decreased by 1.9pc, while apartments increased in cost by 0.1pc.

The highest house price growth in Dublin was in Fingal at 0.9pc, while Dun Laoghaire-Rathdown saw a decline of 7.1pc, according to the CSO data.

Dublin residential property prices are 21.3pc lower than their February 2007 peak, while residential property prices in the rest of Ireland are 20.1pc lower than their Celtic Tiger peak.