Prices in June were 1.2% up on the same month last year, Ireland’s Central Statistics Office reported, the first annual rise seen since January 2008.
In that time prices have dramatically fallen across the country with prices typically 50% smaller than they were at the peak in 2007.
Houses in Dublin are presently valued at 54% lower than in early 2007 but have shown a resurgence in the last year. Prices for houses are up 4.2% on the same point last year while apartments are worth 9.7% more.
However, the capital city is still suffering from historically low transaction levels.
Alan McQuaid of Merrion Stockbrokers said the market is still likely to post an overall fall in 2013, but that prices were starting to stabilise.
“It is difficult to make a call on the housing market at this stage,” he said.
“House prices were down 11.2% on average in 2012 and indeed have fallen on average in each year since 2007.
“The odds point to another drop in 2013, but our gut feeling is that the decline will be in low single digits and the smallest annual fall in the past six years.”
