Rice increased by 14.4% nationwide in the year to May.
According to the Central Statistics Office, this is compared to an increase of 14.5% in the year to April 2022.
In Dublin, prices rose 11.7% in the year to May, while non-Dublin property prices rose 16.6%.
The monthly rate of increase in May was 0.8%, up from 0.4% in April and 0.5% in March.
The slowdown in monthly growth in April and March was seen as easing the rapid pace of inflation in real estate prices.
However, the pace of rise seems to have recovered again in May.
The annual growth rate in May last year was 5.4%.
But now it’s almost three times that.
The region other than Dublin, where home prices have seen the largest rise, is in the southeast, where prices have risen by 21.5% over the past year.
Midland properties are 18.7 pc higher than they were a year ago.
Soaring prices mean that the national index is only 1.1% off the market peak seen in 2007.
Dublin home prices are 9.3% lower than their February 2007 peak.
House prices in other parts of Ireland are 2.3% lower than their May 2007 peak.
Real estate prices are now up 120% from the valley in early 2013.
Existing homes accounted for 3,079 (82.5 pc) home purchases submitted to the Revenues Commission in May. This is a purchase of 82.5pc.
The rest of the 652 (17.5pc) transaction was a new home.
Households paid € 290,000, the median or mid-price of residential real estate, for the year to May.
According to CSO statistician Viacheslav Voronovich, the median minimum price paid for a home was 138,000 euros for Longford and the highest price was 601,000 euros for Dan Really Lasdown.
Inflation in real estate prices for pre-owned homes is higher than for new homes.
New home prices in the first quarter of this year were 6.2% higher than in the same three months last year.
Existing home prices in the first quarter of this year were 17.8% higher than the corresponding quarter in 2021.
Overall, new home prices rose 84.4% from the mid-2013 valley.
Currently, the price of existing homes is 122% higher than in the 2012 valley.
Goodbody stockbroker Dermot O’Leary, an economist, said this month was a strong month and he didn’t read too much of the month’s numbers.
“We expect price increases to continue to slow as the year progresses, due to the headwinds consumers face in terms of rising interest rates and pressure on real disposable income,” O’Leary said.
