But despite this, prices are still up for the 19th month in a row, according to the Central Statistics Office (CSO).
Across the State, home prices were up by 7.5pc in the year to March 2025.
This is down from 8pc in the year to February.
Property prices in Dublin rose by 6pc, and prices outside Dublin were up by 8.7pc compared with March last year.
The median, or typical, price of a dwelling purchased in the year to March was €362,500.
This is up almost €30,000 in the past year alone, the CSO statistics show.
The highest median price for a home in the period was €665,000 in Dún Laoghaire-Rathdown, while the lowest median price was €180,000 in Leitrim.
Outside of Dublin, the most expensive region over the last year was Wicklow, with a median price of €454,000.
The second most expensive region was Kildare, which had a median price of €410,000.
In March, 3,617 dwelling purchases by households were filed with the Revenue Commissioners at a total value of €1.5bn.
These purchases were made up of 2,866 existing dwellings and 751 new dwellings.
Revenue data shows there were 1,336 first-time buyer purchases in the month.
Prices for new homes were up 4.1pc than in the first three months of this year.
CSO statisticians said this was higher than the increase in the same three month period in 2024.
A chronic shortage of second-hand homes saw their prices rise by 9.1pc in the first three months of this year.
Senior underwriter with mortgage provider Núa Money Donal Magee the CSO figures lend weight to what it is seeing on the ground.
Price growth has moderated slightly, but the accessibility gap to financing is still very real.
Managing director of Roundtower Capital, a firm that funds developers, Ian Lawlor said the rate of house price growth continues to ease slightly.
But CSO figures also shows that Irish house prices continue to soar with annual prices up 7.5pc.
“The CSO’s latest house price index comes in the same week that a report from the property website Daft found that the average asking prices for rents nationally topped €2,000 for the first time ever.
He said: “Ultimately, unless there’s a significant increase in housing delivery, steep house price and rent inflation will persist and homes will continue to be unaffordable for a large cohort of young people.”
Mr Lawlor said demand for housing is only going in one direction for now.
He said planning and infrastructure delays continue to stall the building of thousands of new homes.
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