Property prices continued to fall in April, according to new official figures from the Central Statistics Office.

The CSO's Residential Property Price Index shows that property prices fell by 1.0% in April. This compares with a decline of 1.7% in March and a decrease of just 0.7% in April of last year.

The annual rate of decrease is accelerating. In the year to April, property prices fell 12.2%, nationally. This compares with a decline of 11.9% in March.

Overall, property prices have fallen 40% from their highest levels in 2007.

Dublin prices fell by 0.7% in April and were 13% lower than a year ago.

Excluding Dublin, prices fell by 1.3% in April, a drop of 11.7% from a year ago. This compares with a monthly decline of 0.5% in April of last year.

House prices in Dublin are now almost 46% lower than at their highest level in early 2007.

Apartment prices in Dublin have fallen almost 53% from their peak in February 2007.

Outside of Dublin, the fall from the peak is just over 36%.

The CSO's residential property price index is designed to measure the change in the average level of prices paid for residential properties sold in Ireland.

The index is mix-adjusted to allow for the fact that different types of property are sold in different periods and starts from 2005.

The index shows that property prices increased every month from April 2005 to July 2007.

They have decreased every month from October 2007.