The pace of house price rises has eased, led by a slow down in Dublin, new figures from the CSO show.

However, the data shows prices continue to surge and even accelerate outside the capital.

The CSO data shows the fastest pace of price increases is now across the Midlands and Mid-West of the country - along a belt that straddles much of the M6 and M7 motorway corridors.

House prices in the Midlands region of Laois, Longford, Offaly, and Westmeath are up 12pc year on year. In the Mid-West counties of Clare, Limerick, and Tipperary prices are up 10.6pc.

Nationally house prices are now 21.9pc above the property boom record, with by fare the biggest increases outside Dublin. Prices outside Dublin are almost 25pc above their Celtic Tiger peal and are still shooting up. In the capital house prices are 7.2pc higher than their 2007 peak.

The CSO numbers show prices outside Dublin were rising at a 8.9pc at the start of the year and 9.2pc in August.

Economist Austin Hughes says the latest August data paint a stark picture of contrasting trends in property price trends in Dublin and elsewhere this year.

"While the overall rate of house price inflation has eased from 8.3pc in January to 7.4pc in August, this is entirely due to a slowdown in Dublin house price growth from 7.6pc to 5.3pc," he said.

The slowdown in Dublin prices reflects two factors - worsening affordability on the one hand that effectively means prices are hitting a ceiling, but also supply of new builds.

New building has been stronger in Dublin elsewhere, accounting for more than half of new homes sold to household buyers in the first eight months of 2025, he said.

"A small but encouraging development is that the number of homes bought by first-time buyers in the first eight months of 2025 was that at 11905, the number of first-time buyers was up 10.6pc or more than 1100 higher than in the same period of 2024," he said.

The chairperson of Irish Mortgage Advisors, Trevor Grant, said the nationally static rate of house price growth might be welcomed by aspiring buyers but warned that prices are still rising steeply and remain unaffordable for many.

"This means that many locals are being priced out of their home towns and areas once considered affordable for commuters are no longer so," he said.

Despite sustained demand, supply remains under pressure and ultimately, this mismatch between supply and demand is the biggest driver of Irish house price inflation, he said.

"Unless there's a significant increase in housing delivery, steep house price inflation will persist and homes will continue to be unaffordable for a large cohort of young people as well as the many others who wish to buy."

He called on Government to act including publishing its revised 'Housing for All' strategy.

"If the Government can't get its plan together on how it intends to accelerate housing delivery in this county, what chance do those hoping to buy a home stand?"