The Irish property market is showing further signs of easing, according to the latest Irish Permanent House Index released today.
For the country as a whole, house price growth is the slowest in four years, with top-end properties in Dublin actually decreasing.
Commenting on the survey, Irish Permanent head of marketing Mr Niall O'Grady said the continuing moderation in the annual growth rate suggests the strong growth levels experienced over the past four years are being replaced by more moderate and sustainable levels.
"Our analysis clearly shows that while price growth remains strong at the lower price bracket, there is a return to more realistic prices at the upper end of the housing market," he said.
Nationally, year-on-year house price growth fell to 14.1 per cent in July from 15.1 per cent in June, the seventh consecutive monthly decrease, the survey said.
In the first seven months of 2001, house prices rose 5.9 per cent, compared with 12.5 per cent for the same period last year.
The average price paid for a house in Dublin was £190,184 in July, while the equivalent price for a house outside the capital was £127,482.
But the average price per square foot for Dublin property in the £300,000-and-over bracket has fallen 5.7 per cent over the year to date against a rise of 8.5 per cent for houses in the lower-price ranges.
Additional reporting by Reuters