Average house prices are up nearly 3% over the last 12 months, with Dublin showing the most dramatic recovery.
The cost of a house in the capital is up 10.5% in the year to August while the value of apartments is up by almost the same amount.
Official figures show that nationally the recovery of the property market has been modest but demand for family homes in parts of Dublin is driving a revival in values.
The Central Statistics Office (CSO) said that prices were up on average 0.9% in August alone and up 2.8% in the year to last month.
The improvement in Dublin is highlighted by a 1.9% jump in values in August alone.
The residential property index now puts the market at about half as valuable as it was in early 2007.