Residential property prices fell by 1.1% nationally last month.
Despite the cost of buying property rising in Dublin from March to May, the figures for June show prices declined in the capital by 1%.
In the 12 month period up to last month prices fell by 14.4% nationally. The cost of residential property, excluding the capital, also fell by 1%. This brings the overall decline nationally to 50% since the peak which the CSO estimates as occurring in 2007.
House prices are 50% lower in the capital and apartment prices are 62% down since the peak.
Residential property prices in the rest of Ireland 47% lower than the peak.
Many analysts had suggested the recent rise in Dublin may have been an indicator of market which was showing signs of bottoming out.
However, academics cautioned that prices would need to show signs of stabilisation for six months or more before anybody could say with certainty that the trend had changed.
The published detailed indices are 3 month rolling averages (i.e the average of the current month and the two previous months) so as to reduce short-term volatility in the series.
However, the composite national index is compiled by averaging the pure monthly detailed indices.
While this treatment is methodologically correct, it can give rise to some apparent inconsistencies in the published results.
Therefore there is a slight difference between the 1% in Dublin and the rest of Ireland and the national figure of 1.1%.
