But it make take some time for the rest of the country to catch up as on a national basis prices were down 0.6% in January, the second national monthly fall in a row.
In the year to January, residential property prices at a national level, fell by 3.3%, the data from the Central Statistics Office also shows. This compares with an annual rate of decline of 4.5% in December and a decline of 17.4% recorded in the 12 months to January 2012.
But even in Dublin not all property types are performing well. While Dublin house prices rose by 0.3% in the month and were 2.8% higher than a year earlier, apartment prices were 4.6% lower when compared with the same month of 2012.
The price of residential properties in the rest of Ireland fell by 1.6% in January compared with a decline of 0.7% in January last year. Prices were 7% lower than in January 2012.
Overall house prices in Dublin are 54% lower than at their highest level in early 2007. Apartments in Dublin are 61% lower than they were in February 2007.
This means that 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.
