Property prices has slowed for the first time in almost two years. According to the latest residential property price index, prices rose by 14.2% over the year to April, down from the rate of 15.1% in March.

In Dublin, residential prices saw an increase of 11.5 per cent, down from 12.7 per cent in March, while property prices outside Dublin were 16.4 per cent higher year on year.

Property transactions fell by 12 per cent to 3,138 in April, another sign of cooling in the market, while the total value of transactions for April amounted to €1.1 billion.

The latest figures show the average price paid for a home in the Republic in the 12 months to April was €334,722. The average price paid in Dublin (€512,502) was the highest in any region or county.

The Border region was the least expensive region in the year to April 2022, with a mean price of €176,488. Longford (in the Midland region) was the least expensive county, with a mean price of €151,558.

The average price paid for a home nationally in April (just under €335,000) was 7.4 times the average earnings (€45,000).

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