A new online tool allows users to access area-specific financial information on the housing market by typing in their Eircode.

The interactive house price service, launched by the Central Statistic Office (CSO) on Friday, gives an instant breakdown on average property purchase trends over a 12-month period.

It also allows users identify the types of buyers in the area and to compare prices against the national 12-month average.

The data breakdown is accessed by going onto the CSO website and entering the first three digits of a specific Eircode, or by typing in the name of the area.

Gregg Patrick, a statistician at the CSO's residential property prices division, said: "The new tool, located on our website, provides everyone from first-time buyers to media and policymakers with easy access to valuable information regarding the residential property market in a given area."

It has been designed to accompany the recently-launched Residential Property Price Index for Ireland, which covers all market transactions in the residential property market and measures price change with greater accuracy.