Douglas Newman Good has said its own survey shows that the value of second hand houses in Dublin increased by 3% in the final three months of 2012.

The estate agents said that prices of second hand Dublin homes increased by 2.2% for the year as a whole.

Douglas Newman Good said that the average value of a house in Dublin was €258,529.

According to the report, which analysed annual figures from the Property Price Register, 2012 also showed an increase of activity in the residential market across the country with over 21,725 transactions, up 27% on 2011.

Over €4.3 billion was spent on property sales during the year with the average price paid of €201,771 on a nationwide basis.

However DNG said the building industry in Ireland shows increased signs of continued slowdown with the overall figure for registered completed buildings last year expected to just exceed 8,000 units in total compared to 10,480 for 2011.