The data from the Central Statistics Office also shows, however, that month on month ere was no change in prices compared with a decrease of 0.5% recorded in January and a decrease of 0.4% recorded in February of last year.
A breakdown of the figures show that in Dublin prices decreased by 0.1% in February and were 4% higher than a year ago. House prices decreased by 0.3% in the month and were 4% higher compared to a year earlier while apartment prices were 4.3% higher when compared with the same month of 2015.
Property prices in the Rest of Ireland rose by 0.1% in February compared with no change in February of last year and were 11.5% higher than in February 2015.
It means that house prices in Dublin are 35.1% lower than at their highest level in early 2007 and apartment prices are 40.9% lower than they were in February 2007.
Prices in the rest of Ireland are 35.2% lower than their highest level in September 2007 and overall the national index is 33.8% lower than its highest level in 2007.
