Residential property prices outside of Dublin grew at a faster rate than in the capital last year, according to new figures from the Central Statistics Office.

Property prices in the rest of Ireland rose by 13.3% in the year to December, compared to an increase for Dublin of 11.6%.

Overall, the CSO said the residential property prices at national level increased by 12.3% - a more than two-year high and compared to an increase of 9% in 2016.

Breaking down the figures in Dublin, house prices increased 10.8%, while the cost of apartments increased by 14.7% in the same period.

The CSO said that house prices rose by 0.5% on a monthly basis in December, after a 1% rise in November.

But growth over the last three months moderated to 1.8%, the slowest pace of expansion by that measure in seven months.

The highest house price growth was in Dublin City, which saw an increase of at 13.2%. In contrast, the lowest growth was in Dun Laoghaire-Rathdown, with house prices rising 9%.

Meanwhile, house prices in the rest of the country went up by 13.2% in 2017. The West saw the greatest growth in prices, with the cost of houses going up by 16.4%. The South-East region saw the least price growth, with house prices increasing by 11%.

Apartment prices in the rest of the country jumped by 15% in the same period.

Overall, the national index is 22.9% lower than its highest level in 2007. Dublin residential property prices are 24.4% lower than their February 2007 peak, while residential property prices in the rest of Ireland are 28.4% lower than their May 2007 peak.

From the trough in early 2013, prices nationally have increased by 72.1%. 

Dublin residential property prices have increased 87.3% from their February 2012 low, whilst residential property prices in the rest of the country are 64.8% higher than the trough, which was in May 2013.

In the month of December, there were 4,344 residential dwelling purchases filed with the Revenue Commissioners. 

This represents an 11.2% increase compared to December 2016, when 3,907 purchases were filed. The total value of the market based on transactions filed in December was €1,219.4 million.

Of the 4,344 residential dwelling purchases filed with the Revenue Commissioners in December, 897 (20.2%) were for new dwellings and 3,465 (79.8%) were for existing dwellings. 

In 2017, there were 43,362 household market dwelling purchases filed with the Revenue Commissioners. Of these, 12,278 (28.3%) were purchases by first-time buyer owner-occupiers; 22,387 (51.6%) were purchases by former owner-occupiers; 8,697 (20.1%) were purchases by non-occupiers.

In the 12 months to December, the median price paid by households for a dwelling on the residential property market was €225,000.

Dublin was the region with the highest median price (€349,250) in the year to December. Dún Laoghaire-Rathdown had the highest median price (€520,000), while Fingal had the lowest median price (€312,500).

Outside Dublin, the highest median prices were in Wicklow (€303,000) and Kildare (€270,000).

The lowest median price for a dwelling was in Longford (€85,125). Roscommon and Leitrim share the second lowest median price (€90,000).