2004 was €319,365 and €213,173 respectively.
The property market is cooling down as the record number of new houses coming on to the market appears to be meeting demand, according to the latest permanent tsb house price index.
The monthly index shows house prices nationally rose by 3.8 per cent in the first five months of the current year compared to 5.8 per cent in the same period in 2003.
House prices nationally rose by 0.5 per cent in May. This is significantly lower than the 1.2 per cent rise recorded in April and well down on the 1.7 per cent rise experienced in May 2003.
Mr Niall O'Grady of permanent tsb said the moderation is to be expected given the high level of house building that has been recorded. Over 60,000 houses were built in Ireland last year and a similar figure is expected this year given the buoyancy of the construction sector.
Given the moderation in prices Mr O'Grady now expects house price growth this year to be of the order of 10 to 12 per cent ,down from 13.7 per cent last year.
Dublin house prices grew by 0.9 per cent in May and by 3.9 per cent year to date while the equivalent growth rate outside Dublin was 4.6 per cent .
The average price paid for a house in Dublin and outside Dublin in May 2004 was €319,365 and €213,173 respectively. The equivalent prices in May 2003 were €285,216 and €189,236.
House prices for first-time buyers increased by 0.4 per cent , while prices rose by 0.7 per cent for second-time buyers in May 2004. In April 2004 the respective changes were 0.4 per cent and 1.5 per cent.
Over the first five months of this year house prices for first-time and second-time buyers have diverged with growth of 2.6 per cent and 4.5 per cent, respectively. House prices grew by 9.5 per cent and 12.9 per cent year-on-year to May 2004 for first-time and second-time buyers respectively. The equivalent rates to the end of April 2004 were 11.5 per cent and 13.8 per cent respectively.
The average price paid by a first-time buyer and a second-time buyer in May 2004 was €210,544 and €275,438 respectively. The equivalent prices in May 2003 were €192,340 and €243,922.
The average price paid for a new house in May 2004 was €236,387, while that paid for a second-hand house was €250,175. The equivalent prices in May 2003 were €211,140 and €223,464.
The index is compiled by permanent tsb in association with the ESRI.