Official figures from the CSO show that residential property prices have fallen 49% across the country since their peak in early 2007.
This marks a slower pace of decline. This is the first time since July 2011 that the year-to-year rate of decline has slowed.
The price of a home fell by 16.3% in the twelve months between March 2011 and March 2012.
The price of a home is 57% lower than the peak in Dublin and 45% lower in the rest of Ireland.
House prices in Dublin are 55% lower than the peak, apartments in Dublin are 61% lower than the peak.
Figures published by the Central Statistics Office show that residential property prices remained unchanged in the month of March. This compares with a decline of 2.2% recorded in February and a decline of 1.7% recorded in March last year.
In Dublin, prices rose by 0.7% in March and were 18.3% lower than a year ago. Dublin apartment prices were 18.9% lower when compared with March 2011.
The price of residential properties in the rest of Ireland fell by 15.5% between March 2011 and March 2012.
Today's figures show that the price of residential property has fallen 49% since its peak in early 2007.
