New figures from property website Daft.ie show the average house price is now €312,500. It says an average fall of 3.8% in house prices was recorded between July and September.
This means that prices are down by almost 11% compared to the same period last year.
Daft.ie says that Clare and Cork are the worst affected counties - prices in Clare have fallen by 7.8% and by 7% in Cork. Prices in Roscommon, Tipperary and Leitrim dropped by more than 6%.
Daft.ie says the fall in property prices is closely related to the ongoing financial difficulties in the global economy.
Banks have less money to lend and the downturn is affecting confidence among people thinking of buying a house.
