New house prices figures indicate that this year's interest rate rises are beginning to have an effect on price growth.
The Permanent TSB/ESRI price index shows that house prices nationwide rose by 1% in August compared with July - the third month in a row that the growth rate has slowed.
The report shows that growth rates across all sectors of the housing market in August were the same or lower than in July, the first time this has happened this year.
But the annual rate of growth was 15.4%, unchanged from July. The average price paid for a house in August was €306,173.
Permanent TSB's Niall O'Grady said there was a clear trend of slowing price growth, and the figures pointed to 'the heat being taken out of the market'.
House prices in Dublin and outside Dublin grew by 1% and 0.9% respectively in August, giving annual rates of 17.2% and 15.5%. House prices for first-time buyers were up 1.3% in the month and 15.7% in the year, while the equivalent figures for second-time buyers were 0.8% and 15.5%.
New house prices rose by 0.9%, existing houses by 1%. The annual growth rates were 14.9% and 12.9% respectively.
