New figures from the Central Statistics Office show that residential property prices hit a fresh seven-year high of 15.2% in March.
This compares to an increase of 15.1% in the year to February and an increase of 3.5% the same time last year.
Home prices in Dublin rose by 12.7% and prices outside Dublin were up by 17.3%
The CSO said that Dublin house prices increased by 12.6% and apartment prices increased by 12.9% in March.
It noted that the highest house price growth in Dublin was in Dublin City at 13.8%, while South Dublin saw a rise of 11.3%.
Meanwhile, house prices outside of Dublin were up by 17.3% and apartment prices up by 17.6%.
The region outside of Dublin that saw the largest rise in house prices was the Border at 25.1%, while at the other end of the scale, the Mid-East saw a 15.2% rise.
Today's figures show that property prices nationally have increased by 118.2% from their trough in early 2013.
Dublin residential property prices have risen 122.5% from their February 2012 low, while residential property prices in the Rest of Ireland are 122.5% higher than at the trough in May 2013.
The CSO said that people paid a median price of €285,000 for a home in the 12 months to March this year.
The Dublin region had the highest median price of €410,000, while within the Dublin region, Dún Laoghaire-Rathdown had the highest median price of €601,000 and South Dublin had the lowest at €374,999.
The highest median prices outside of Dublin were in Wicklow at €390,000 and Kildare at €344,998, while the lowest price was €136,500 in Longford.
In the year to March, 46,798 home purchases at market prices were filed with Revenue.
Of these, 32.2% were bought by first time buyer owner-occupiers, while former owner-occupiers purchased 53.4%. The balance of 6,721 of 14.4% were purchased by non-occupiers.
Revenue data shows there were 1,290 first-time buyer purchases in March of this year, an increase of 9.3% on the 1,180 recorded the same month last year. These purchases were made up of 351 new homes and 939 existing homes.
Today's CSO figures show that the Eircode area with the highest median price for a home was A94 'Blackrock' with prices of €715,000.
The five most expensive Eircode areas by median price were in Dublin.
The second most expensive Eircode area was D04 'Dublin 4', where the median price was €710,000. The third most expensive area was A96 'Glenageary', which had a median price of €646,000.
The Eircode area with the least expensive median price within Dublin was D10 'Dublin 10', where the median price was €264,000.
Outside of Dublin the most expensive Eircode area over the last 12 months was A63 'Greystones', with a median price of €499,950. The second most expensive Eircode area was A98 'Bray', where the median price was €430,000 and the third most expensive was W23 'Celbridge', with a median price of €391,875.
The least expensive Eircode areas over the last 12 months was F45 'Castlerea', with a median price of €112,250.