House prices fell in October, resuming their downward slide after three months of gains.

The latest Residential Property Price index from the CSO showed a 0.6% fall nationally in October.

The index measures prices of homes purchased with a mortgage and excludes cash sales,

Residential property prices in Dublin fell 0.2%.

Following those three months of price increases the annual rate of decline continues to moderate. In October house prices had fallen by 8.1% over the previous 12 months. In September the rate of decline was 9.6%.

In October of last year the annual rate at which house prices were falling was measured at over 15%.

According to the CSO index House prices in Dublin are now 55% lower than at their peak in 2007 and apartment prices are 63% lower.

Residential prices for the rest of the country have fallen by 47% since February 2007.