The price of houses nationwide grew by 8.4% in the first 11 months of the year, compared to 12.2% for the same time last year, according to the latest Permanent TSB House Price Index.
The index, compiled in association with the ESRI, reveals that price of houses nationally rose by just 0.3% in November.
This growth rate matches that of October but is lower than the growth rate recorded in June (0.9%), July (0.9%), August (1.1%) and September (1%).
The price of a house nationally in November was €253,769, up nearly €20,000 from €234,066 in November 2003.
In a new development, Permanent TSB and the ESRI have developed an index of price movements in what are referred to as the Dublin Commuter Counties - Louth, Meath, Kildare and Wicklow.
This index reveals that house prices in these four counties fell by 0.5% in November. Prices grew by 6.5% in the first 11 months of the year, while the equivalent growth rate in 2003 was 13.2%.
'There has been a marked slowdown in the rate of house price growth during October and November,' Permanent TSB's Niall O'Grady said.
He said that if the trend continued, growth for 2004 overall would be below 9%, which is slightly below previous predictions.
'This slowdown in the national growth rate is reflected across all categories and areas. The impact of increasing housing supply on house prices is now being felt, particularly in prices in the Dublin Commuter counties,' Mr O'Grady added.
