They mean that prices are now down 8.1% compared with October 2011. The average value of a property nationally is now €157,400, down from a peak of €313,998, calculations based on the CSO figures indicate.
But nationally the picture is still improving. The annual rate of decline in September was 9.6% and in October 2011 it was 15.1%.
Also prices have now risen in five of the first 10 months of 2012 and fallen in the five others, signalling some stability in the market.
The new index shows that in Dublin residential property prices fell by 0.2% in October and were 7.1% lower than a year ago. Dublin house prices declined by 0.2% in the month but were 7.8% lower compared to a year earlier. Dublin apartment prices were 7.1% lower when compared with the same month of 2011.
The price of residential properties in the rest of Ireland fell by 0.9% in October compared with a decline of 2% in October last year. Prices were 8.9% lower than in October 2011. Overall house prices in Dublin are 55% lower than at their highest level in early 2007.
Apartments in Dublin are 63% lower than they were in February 2007. Residential property prices in Dublin are 56% lower than at their highest level in February 2007.
The fall in the price of residential properties in the rest of Ireland is somewhat lower at 47%. Overall, the national index is 50% lower than its highest level in 2007.
Some property experts said the introduction of the new property price register in September prompted falls in prices, as people can now seen exactly what prices houses and apartments are selling for, rather than relying on estate agents.
