Property prices in Ireland increased by 12.7% in the 12 months to March 2018 as a strong and steady upward trend continued, the latest official figures show.

This compares with an increase of 12.5% in the year to February and an increase of 9.8% in the 12 months to March 2017, according to the data from the Central Statistics Office.

In Dublin prices increased by 12.1% year on year with house prices up 11.8% and apartment prices up 13.9%. The highest house price growth was in Dublin City at 14.2% and the lowest growth in South Dublin at 9.6%.

In the Rest of Ireland prices increased by 13.4% on an annual basis with house prices up 13% and apartment prices up 13.4%. The West region showed the greatest price growth with a rise of 18% while the lowest was a rise of 8.8% in the Border region.

Overall, the national index is 21.6% lower than its highest level in 2007. Dublin property prices are 23% lower than their February 2007 peak, while property prices in the rest of Ireland are 27.4% lower than their May 2007 peak.