Dublin property prices fall for third consecutive month as house price hike cools nationwide

Residential property prices rose by 1.5 per cent in the year to July despite ECB rate hikes

Residential prices continue to rise in Ireland despite a decline in Dublin. Picture: Eamonn Farrell/

Residential property prices decreased for a third consecutive month, bucking the national inflationary trend, according to data published by the Central Statistics Office (CSO).

The CSO found that while the national residential property price index (RPPI) increased by 1.5 per cent in the 12 months to July, the RPPI for Dublin had dropped by 1.4 per cent in the same period.

The rest of Ireland by contrast had a 3.8 per cent increase in RPPI, despite continued interest rate hikes from the European Central Bank.